What is a SMC Global Demat account?

A Demat account is a place where your securities like stocks, mutual funds etc., are stored in electronic form. It works like a bank account. When you buy shares through your trading account, the shares are credited in your Demat account. The shares get debited from the account when you sell it.

The Demat accounts are managed by two central depositories NSDL and CDSL. Brokers like SMC have to be the Depository Participant of any of the central depository to offer Demat services.