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| INTRODUCTION
Internet is increasingly becoming an important medium for
conducting business transactions. Enabling transactions
through Internet thus becomes essential as a means to provide
better flexibility and convenience to clients and further
increasing efficiency of settlement of trades in the capital
market. Safety of transactions is however, a very crucial
issue in Internet based solutions. This assumes significance
in case of depository transactions since it involves movement
of high-value financial assets across accounts. Further,
depository transactions are also time critical. The lapse
or failure to deliver the securities in time for pay-in
to the stock exchanges may lead to financial liability.
Hence, an Internet application for depository transactions
necessarily demands an elaborate and robust infrastructure
that ensures efficient execution, secured processing and
guaranteed delivery of transactions.
SERVICES
NSDL demat account-holder (including a Clearing Member)
desirous of operating its account through the Internet,
on SPEED-e, first makes a request for registration with
us.
While a beneficiary account-holder can access SPEED-e either
through a password or a smart card a Clearing Member can
access SPEED-e only through smart card. Password Users can
debit their demat accounts only in favour of specified Pre-Notified
Clearing Member accounts upto a maximum of three Clearing
Members.
In case of joint accounts, any one person must be authorised
to operate the joint account. This person may be one of
the joint holders or any other person. Such an authorisation
can be given by executing a Power of Attorney in favour
of that person.
After we authorise you to operate your account through SPEED-e,
you can issue delivery instructions electronically using
SPEED-e.
SECURITY
SPEED-e has incorporated security features which ensure
that the Users can execute and transmit their delivery instructions
safely. The following are the salient features that have
been integrated to ensure maximum user security:
|
| Features |
User* |
Remarks |
| Hardware |
| Fault-Tolerant Servers |
SC, P |
Fail proof systems housed in
physically secure data center |
| Load Director |
SC, P |
Manages high User traffic |
| Smart-Card |
SC |
Hardware token for strong authentication
|
| PIN pad entry |
SC |
Eliminates risk of entry stokes
being recorded in case of keyboard entry |
| Software |
| Secure User-Id |
P |
User Id given similar importance
like password. Increases User security |
| Stringent Password |
P |
Alphanumeric combination |
| Voluntary changing of Password
|
P |
Emphasis on password discipline
|
| Password expiry and forced change
of password |
P |
Forces user to avoid prolonged
user of same password and reduces security risk |
| Digital Signature Certificate
(embedded in Smart-Card) |
SC |
Authenticates User to SPEED-e
|
| Audit Trails |
SC, P |
Records trail of all data captured
and changed for future use |
| Last Visit Notification |
SC, P |
Informs User about the last
access (date-time) to SPEED-e |
| Network |
| 128 Bit encryption |
SC, P |
Transaction text get encoded
|
| SSL Server Certificate |
SC, P |
Authenticates SPEED-e to Users.
Provides a secure tunnel for data transfer in open Internet
Network. |
| Stateful Inspection Firewall
|
SC, P |
High-end firewall - prevents
unauthorised access to the infrastructure. Eliminates the
possibility of attacks leading to destruction of services.
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| Operational |
| Pre-Notified Accounts |
P |
Reduces risk as credits can
be effected only to pre-notified accounts |
| User Identification |
SC, P |
Superior controls for identification
of User before confirmation of Registration Request |
| Documentation |
SC, P |
Sound documentation through
agreements, consent letters, etc. which legally bind Users
in respect of their rights and |
| * SC - Smart-Card
User *P - Password User |
FEATURES
The following features are presently available in SPEED-e today.
It is NSDL's endeavour1 to constantly upgrade the features and provide
value-added services depending on User-feedback.
|
|
Password
User (BO*) |
Smart-Card
User (BO*) |
Smart-Card
User (CM*) |
| Delivery Instruction to |
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| - Pre-Notified accounts |
4 |
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| - Any demat account |
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4 |
4 |
| Delivery-Out Instruction |
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4 |
| Inter Settlement Transfer
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|
4 |
| View status of instruction
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4 |
4 |
4 |
| View Master files |
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| - ISIN |
4 |
4 |
4 |
| - Settlement Calendar |
4 |
4 |
4 |
| - Clearing Member |
4 |
4 |
4 |
| - Participant |
4 |
4 |
4 |
| Batch Upload of Instructions
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4 |
| Change Password |
4 |
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| Change PIN |
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4 |
4 |
| Check last access (date-time)
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4 |
4 |
4 |
| Late-stamp warning |
4 |
4 |
4 |
| * BO - Beneficial Owner *CM
- Clearing Member |
Registration for online depository
Password Users:
| • |
Only beneficiary
account-holders are eligible to access SPEED-e through
password. Beneficiary account-holders can however, at
their discretion, choose to go in for a more secure smart-card
based access. |
| • |
Password
Users will have a facility to choose three clearing member
accounts as Pre-Notified accounts. This will enable such
Users to transfer securities only to these pre-notified
accounts while submitting a transfer instruction which
is in the interest of the User. The User needs to obtain
a consent letter from each Clearing Member stating that
the Clearing Member will return the securities to the
User in case they are wrongly transferred to the Clearing
Member. Beneficiary account-holders who wish to have the
liberty to transfer securities to any demat account may
opt for Smart-Card based access. |
| • |
A request
for registration will have to be made online by choosing
own User-Id and Password. The User-Id should not be revealed
to any other person and should be treated just like a
password. Users should note that if the User-Id is forgotten,
access to SPEED-e will be possible only after re-registration.
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| • |
Apart from
choosing own user-id and password, the User shall submit
the following details as part of the online registration
form:
- Client-Id, Participant-Id
- Names of all account holders
- Pre-Notified account(s), i.e. CM BP-Ids of clearing
member(s)
- Other information such as date of birth and email address. |
| • |
The User
will then receive an acknowledgment with a unique Internet
registration request number from SPEED-e along with a
message that registration request is successful. |
| • |
The User,
on receipt of this acknowledgement can then print the
registration form using 'PRINT' option given by SPEED-e
or fill a blank registration form. |
| • |
The User
shall quote the unique Internet registration request number
in the registration form and make sure that the registration
form is signed by all the joint holders of the demat account. |
| • |
The User
shall then submit the completely filled form to its Participant
along with all the supporting documents viz; Agreement,
Power Of Attorney (where applicable) and a copy of transaction
statement. |
| • |
The User
will be able to operate the SPEED-e account only after
due authorization from us. The User will be intimated
by us or can check the status by attempting log-in through
User-Id and password. |
| • |
The User
will personally visit any of our office. If the Power
of Attorney holder is not one of the account holders,
the proof of identity and proof of address of POA holder
will also be submitted. |
| • |
If the documentation
is in order, we will authorize the user to access the
SPEED-e facility. The user can now operate his demat account
using SPEED-e. |
| • |
The user
will be initimated by us or the user can check the status
by attempting to log-in through User-Id and password. |
For Smart Card Users:
| • |
The User can collect a blank
application form available. |
| • |
The User
shall then submit the duly filled form to us along with
all the supporting documents. viz; Agreement, Power Of
Attorney (where applicable), proof of identity and proof
of address. |
| • |
If the documentation
is in order, we will collect the smart card kit and secured
PIN envelope from NSDL and then send the same to the User. |
| • |
The user
will have to install Smart-Card reader and necessary software
provided by participant. |
| • |
After successful installation,
the user can operate its demat account using SPEED-e. |
OPERATING INSTRUCTIONS
| • |
Once the
User has been authorized by us to access SPEED-e, the
Password User can log-in using its User-Id and Password
and the Smart Card User can log-in using its User-Id,
Smart Card and PIN. |
| • |
Users must
execute the instructions sufficiently in advance. The
instructions must be executed on SPEED-e at least one
clear working day prior to execution date. Eg: if the
execution date is Friday, the instruction can be submitted
latest by Wednesday. If the instruction is submitted on
Thursday or Friday, it will be executed by the participant
at the User's risk, on a best effort basis. |
| • |
SPEED-e
has a Request Screen, Confirmation Screen and Acknowledgement
Screen for every instruction to be executed. |
| • |
The User
must enter the ISIN, quantity and counter-party details
of the instruction in the Request screen on the SPEED-e
site. The ISIN can be found from the Transaction Statement
or from the ISIN search facility on SPEED-e site. |
| • |
After clicking
on "Submit" button of the Request Screen, Confirmation
screen will be displayed. |
| • |
The confirmation
screen will display the transaction details, SPEED-e transaction
no., date and time of receipt of instruction. If the instructions
are submitted late, the confirmation screen will also
display the late stamp indicating that the instruction
will be executed at User's risk by us on a best effort
basis. |
| • |
The User
will have an option to confirm the instruction or cancel
the instruction by clicking on " Confirm" or " Cancel"
button respectively of the Confirmation Screen. |
| • |
If the User
confirms the instruction, an Acknowledgement screen will
be displayed to the User. |
| • |
If the User
clicks the "Cancel" button of the Confirmation Screen,
the Request Screen will be displayed again. The User can
modify the instructions and again submit. |
| • |
The Acknowledgement
screen will display the transaction details, SPEED-e transaction
no., SPEED-e instruction no., date and time of receipt
of instruction and late stamp indicating that instruction
will be executed at the User's risk by us on a best effort
basis, if submitted late. |
| • |
The User
must note the transaction number and the instruction number
for its future reference. The User can also take a print-out
of the screen, if he so desires. |
| • |
Clearing
Members can execute instructions using facility to upload
batch files apart from online entry of instructions. |
| • |
Password
based users can change passwords at regular intervals.
Smart Card Users also should change their PINs at regular
intervals. |
| • |
Users must
make sure of the contents before confirming the instruction
to SPEED-e. No cancellation is possible once the instruction
is confirmed. |
DISCONTINUING THE USE OF
SPEED-e
The User can at anytime choose to discontinue his registration
for using SPEED-e. Password Users can simply select the "Discontinue"
option in SPEED-e menu, while Smart-Card Users need to submit
a form for discontinuation.
| For an Online Depository,
you need to do the following : |
- If you want to use
the password (Please note that if you opt for password,
you will be able to do only market transactions) then
• Register here,
send the registration form duly filled and signed.
• Sign the Agreement.
• Sign the Consent Letter.
• If you have a demat account in joint name, get
the Power of Attorney.
- If you want to use
smartcard then do the following (with smartcard you
can do market as well as off market transactions)
• Fill the Registration Form.
• Sign the Agreement.
• If you have a demat account in joint name, get
the Power of Attorney.
FOR CORPORATE ACCOUNT PLEASE SIGN BOARD
RESOLUTION.
SEND CERTIFIED COPY OF MEMORANDUM AND ARTICLE OF ASSOCIATION
AND COPY OF INCORPORATION CERTIFICATE. |
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