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In order to facilitate transacting in mutual funds units through stock exchange platform, NSDL has enabled holding of mutual fund units in dematerialised form. In this context, SEBI has now approved the proposal for conversion of existing mutual fund units (in physical form) into dematerialised form. Moreover, NSDL has decided not to charge any fee to Participants in respect of transactions in mutual fund units routed through the stock exchange platform, which are held in the depository system till September 30, 2010.

Further details about this are mentioned in Circular Nos. NSDL/POLICY/2010/0024 dated March 9, 2010 and NSDL/POLICY/2010/0034 dated March 30, 2010 issued to Participants.

NSDL has informed its Participants about SEBI’s clarifications regarding issues raised by Portfolio Managers especially in respect of bank account details to be captured in the depository accounts of PMS clients. SEBI has now vide its letter no. MRD/DoP/NSDL/ST/198672/2010 dated March 17, 2010 informed that bank account details of Portfolio Managers cannot be captured in the depository system in place of bank details of PMS clients.

This has been informed to Participants vide Circular No. NSDL/POLICY/2010/0025 dated March 19, 2010.

National Spot Exchange Limited (NSEL) has intimated NSDL about the features and commencement of spot trading in compulsory dematerialized segment on NSEL. NSEL has introduced demat delivery based investment instruments in commodities, with smaller denominations, such as 1 gram of Gold, 100 Gram of Silver or 1 Kg of Copper, etc in dematerialized units. Investors can participate in such instruments and take delivery on T + 2 basis in demat form. Whenever they want to sell the same, they can do so on NSEL platform on any trading day or they can convert the demat units to physical form in specific denominations at specified locations.

Further details about this are mentioned in Circular No. NSDL/POLICY/2010/0022 dated March 4, 2010 issued to Participants.

NSDL conducts training and certification programmes for Participants to increase the availability of trained personnel for depository operations. In March 2010, such programmes were conducted in Bangalore, Chennai, Guwahati, Jorhat, Kolkata, Mumbai, Nagpur, Pondicherry and Tanjore.

NSDL has informed all its Participants that pursuant to the closure of Depository Participant operations by CNB Finwiz Private Limited, its DP ID IN302919 has been deleted from the Depository System.

This has been informed to Participants vide Circular No. NSDL/PI/2010/0646 dated March 25, 2010.

NSDL has informed all its Participants that pursuant to the closure of Participant operations by Accord Capital Markets Limited, its certificate of registration as a Participant of NSDL has been cancelled by SEBI and has ceased to act as a Participant.

This has been informed to Participants vide Circular No. NSDL/PI/2010/0645 dated March 25, 2010.

Two more Participants have subscribed to the SPEED-e facility:

• Edelweiss Broking Limited (IN303719)
• Ghalla Bhansali Stock Brokers Pvt. Ltd. (IN301854)

Clients of the above mentioned Participants can now avail of the facility of submitting various instructions through SPEED-e facility.

This takes the total number of Participants who have subscribed to SPEED-e to 93.