Registration of New Depository Participants (DPs)

The growing popularity of the CDSL system is best exemplified by the demand from eligible entities for becoming Depository Participants of CDSL. From April to June 2004, 25 more entities (as listed below) have received registration as DPs of CDSL. They are now empowered to facilitate increased convenience for themselves and their clients in managing the settlement function. The distribution of new entities across both, geographical and stock exchange spectrums indicate that the popularity is broad-based.

Growing, broad - based popularity of CDSL system

CDSL has also made available to Clearing Members (CMs) and Beneficial Owners (BOs), several convenient pay-in options like early pay-in, normal pay-in, auto pay-in and BO-level pay-in. CMs/BOs can deliver securities directly to the Clearing Corporation (CC) / Clearing House (CH) through the early pay-in module, immediately after the trade has been executed. BOs can also deliver the securities to the CC/CH directly from their account i.e. without the need of transferring them first to a CM account and then to CC/CH. This enables him to save valuable time - which is the objective of the shorter settlement cycle.

CDSL system also has a facility to pick up the balance available in the BO account at the time of pay-in, even if the available balance is not sufficient to meet the pay-in obligation in full. This reduces the amount of loss, if any, which may arise on account of failure to deliver full quantity due to the non-picking of available quantity. Further, information on such shortfall is made available to CMs even through CDSL ís internet facility-easi on almost real time basis, continuously.