These brokers in turn have opened exclusive accounts with DPs, which is meant to cater to the needs of these small investors. This client account proves useful to those small investors who do not want to cough up the various charges imposed by the depository for opening and maintaining an account. "In the wake of the speedy measures taken by Sebi to spread out the era of compulsory demat trading investors feel left out. Cost factor also seems to be a hindrance in accepting this change," explained a veteran BSE broker. However, to meet thistemporary mismatch brokers have stepped ahead to provide an exit route to these small investors who hold shares which are currently under the compulsory demat mode.

"We realised that small investors wanting to buy or sell small chunks do not want to get into the hassle of opening an account with the DPs. On request by such investors we take up the responsibility of dematerialising their holdings and selling it in the market. The entire settlement of trades is done at our end and that too at no extra cost," said the director of K Jayantilal Securities Pvt, AK Shah. He also explained that they have offered this scheme to their existing clients and, hence, there is no cost involved expect that a small portion of hidden cost is added to the brokerage. Director of Churiwala Securities, Alok Churiwala, said he has extended this line of service to their existing clients at no extra cost.

"Change is not easily acceptable in the market. This is merely an initial resistance. Opening an account is beneficial forthe investors in the long run. Nevertheless, inorder to meet this mismatch created on account of this initial resistance we are also offering this service to our investors.