Page 118 - DCOM304_INDIAN_FINANCIAL_SYSTEM

Unit 6: Secondary Market

Professional Clearing Membership Notes

The NSCCL (National Securities Clearing Corporation Limited) started the Professional Clearing
Membership and the Stock Holding Clearing Corporation Ltd. has been admitted as the first
professional clearing member on CM Segment.
Derivatives Settlement

The NSCCL (National Securities Clearing Corporation Limited) also provides clearing and
settlement services including risk management for the derivatives market.

Multiple Depositories

The Central Depositories Securities Limited (CDSL) has been connected to the NSCCL (National
Securities Clearing Corporation Limited) and clearing and settlement of securities in
dematerialised form through the CDSL has also been introduced.

Did u know? The NSCCL (National Securities Clearing Corporation Limited) accepts FDRs
drawn in its favour and maintains them in its custody. This has added value in services to
the members as they are not any longer required to pay custodial charges but can be given
instantaneous credit and benefit.
As the importance and size of the NSE grows, the importance and size of the NSCCL (National
Securities Clearing Corporation Limited) is also bound to go up.

The following custodians are empanelled with NSCCL:
1. Axis Bank Ltd.
2. BNP Paribas
3. Citibank N.A.
4. DBS bank Ltd.

5. Deutsche Bank A.G.
6. Edelweiss Custodial Services Limited.
7. HDFC Bank Ltd.

8. Hong Kong Shanghai Banking Corporation Ltd.
9. ICICI Bank Ltd.
10. Infrastructure Leasing and Financial Services Ltd.
11. JP Morgan Chase Bank N.A.
12. Kotak Mahindra Bank Ltd.

13. Orbis Financial Corporation Ltd.
14. SBI Custodial Services Pvt. Ltd.
15. Standard Chartered Bank Ltd.

16. State Bank of India
17. Stock Holding Corporation of India Ltd.

LOVELY PROFESSIONAL UNIVERSITY 113