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Depository is an institution or a kind of organization which holds securities with it in De-Mat form, in which trading is done among shares, debentures, mutual funds, derivatives, F&O and commodities. The intermediaries perform their actions in variety of securities at Depository on behalf of their clients.
In India, demat accounts are maintained by two depository organizations: the National Securities Depository Limited and the Central Depository Services Limited. A depository participant (DP), such as a bank, acts as an intermediary between the investor and the depository. In India, a DP is described as an agent of the depository.
National Securities Depository Limited (NSDL) is an Indian central securities depository, based in Mumbai. It was established in August 1996 as the first electronic securities depository in India with national coverage. [2] It was established based on a suggestion by a national institution responsible for the economic development of India.
Depository Participant License: SEBI also issues licenses to depository participants in India. Depository participants are intermediaries that offer services related to holding and trading of securities in electronic form through a depository system. Depository participants can operate in different categories such as NSDL and CDSL.
Inter-connected Stock Exchange is a Depository Participant of Central Depository Service (India) Limited (CDSL) [9] and National Securities Depository Limited (NSDL). [10] ISE-DP has branches at Delhi, Kolkata, Patna, Guwahati, Ahmedabad, Hyderabad, Nagpur, Coimbatore, Tirunelveli and 155 Collection Centers across the country.
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This helps trade verification for the client/investor and retains the interest of the investor in the market. After the trade occurs, the client or investor can also verify with the depository whether the shares have been allotted to him or not. Similarly there is depository participant who provides depository services to the client/Investor
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