NSDL (National Securities Depository Limited) is one of the largest Depositories in the World. Established in August 1996 NSDL, has established a state-of-the-art infrastructure that handles most of the securities held and settled in dematerialized form in the Indian capital market. India’s vibrant capital market which is almost 100 years old, the paper-based settlement of trades caused major problems like bad delivery and delayed transfer of title & more. The enactment of the Depositories Act in August 1996 paved the way for the establishment of NSDL. NSDL is considered a counter to paper-based systems.
Internet-based services offered by NSDL are as under:
Internet is increasingly becoming an important medium for the dissemination of information and conducting business. Enabling transactions through the Internet thus becomes essential as a means to provide better flexibility and convenience to clients and further increasing the efficiency of settlement of trades in the capital market. Safety of transactions is always a concern in Internet-based solutions and since depository transactions involve the movement of high-value financial assets, the amount of vigilance required is quite high. Further, depository transactions are also time-critical. The lapse or failure to deliver the securities in time for pay-in to the stock exchanges may lead to financial liability. Hence, an Internet application for depository transactions necessarily demands a detailed and sturdy infrastructure that ensures efficient execution, secured processing, and guaranteed delivery of transactions. NSDL offers below e-services based products.
NSDL Mobile AppWith mobile being omnipresent in today’s life, NSDL has developed a Mobile App for esteemed investors. You can download and use the NSDL Mobile App to view balances in your demat account on your mobile anytime, anywhere.
Internet infrastructure which allows depository participants (including clearing members) to offer depository services to the clients. The users of SPEED-e can also check the latest transactions and balances in their Demat account through another online service that is an Internet-based Demat account statement and it can also monitor the status of execution of their instructions.
The most important benefit of SPEED-e is the convenience of submitting delivery instructions through the internet. The website is accessible globally.
Internet-Based Demat Account Statement (IDeAS) is a secured Internet website set-up by NSDL for demat account holders that enables investors to view balances and transactions of the last 30 days in demat accounts updated on an online but not real-time basis. This facility is available to all the clients including Clearing Members (CMs) who have opened an account with any of the Participants under the NSDL system. Brokers can view & save the information as well.
STeADY is a facility which enables the brokers to deliver and submit contract notes to fund managers electronically by transferring encrypted digitally signed trade information. It further enables fund managers to enrich the contract note and subsequently the contract is converted into instructions for the custodian. STeADY facilitates the broker to upload contract notes for cash and equity Derivatives (F & O) Segments.
DAN is a secured online platform that offers subscribers to do authentication of identities such as DP ID, PAN details of investors, or client ID. This option allows the subscriber of NSDL to confirm the basic details of the investor community. Also, ensure greater reliability and trust to the investor. DAN is applicable for public issues, public offers, etc., and is also offering services to lead managers and syndicate members.
SPICE refers to time-saving action wherein clearing members (It is for those clients who have bestowed the (Power of Attorney) in favor of respective clearing members). SPEED-e can be utilized to give auto pay instructions to participants and get it debited from the Client’s Demat accounts hosted here and consequently credit the pool accounts which belong to the Clearing member. The cumbersome routine of giving paper-based delivery instructions to the participant can be avoided easily
SIMPLE, a facility that enables the password-based users of SPEED-e facility to submit Client to Clearing Member Pool Account transfer instructions on the SPEED-e website through their mobile phones (enabled with GPRS).