Home  :  About Us  :  Press Releases

NEST* RELEASE
NSDL LAUNCHES INTERNET BASED SERVICE

NSDL has launched a new service called Securities Position Easy Electronic Dissemination (SPEED) service, which is an Internet based facility for the brokers (Clearing Members). SPEED will enable the brokers to view the securities balances and transactions relating to their CM Pool Accounts directly on the Internet. SPEED can be accessed through the web-site https://eservices.nsdl.com using a simple Internet connection. SPEED is a secured access with multi-layered security. Access to SPEED is possible only by using User Id and password. The data hosted on the web-site will be initially updated once a day at around 9.45 a.m. and later on, at more frequent intervals.

SPEED will enable the brokers to track the securities transferred by their Clients into their CM Pool accounts for the purpose of pay-in. SPEED will facilitate them to follow-up with those Clients who have not delivered the securities. SPEED will also enable brokers to keep track of the deliveries given to the Clearing Corporation and hence know the shortages which could go for auction. SPEED will also benefit the Depository Participants as enquires from brokers will go down substantially. In view of the increasing mandate for rolling settlements, this facility will be specially beneficial for the brokers. SPEED is the first Internet based application developed by NSDL.

February 17, 2000

NEST = * National Electronic Settlement and Transfer