FPI Ecosystem

Responsible for post trade activities of the stock exchange like clearing and settlement of trades and risk management. They are also responsible for risk management and margin.

➤ NSE Clearing Limited (NCL)
➤ Indian Clearing Corporation Limited (ICCL)
➤ Multi Commodity Exchange Clearing Corporation (MCXCCL)
➤ National Commodity Clearing Limited (NCCL)
➤ AMC Repo Clearing Limited

Holds securities (like shares, debentures, bonds, government securities, mutual fund units etc.) of investors in electronic form at the request of the investors through a depository participant. It also provides services related to transactions in securities.

➤ Central Depositories Services (India) Ltd (CDSL)
➤ National Securities Depository Limited (NSDL)

➤ Custodians - A Custodian is a SEBI registered intermediary that holds the assets/securities of its clients in safe custody in fiduciary capacity and executes instructions of its clients with respect to their dealings in securities markets.
➤ Designated Depository Participants - A Designated Depository Participant (‘DDP’) is an activity authorised by SEBI to the Custodian to receive and process FPI registration applications and grant registration as an FPI, on behalf of SEBI
➤ Broker/Trading Members - Execute trades on the stock exchange and assist in settlement of trades. They can settle their trades by themselves (Self Clearing) or use the services of Professional Clearing Members (PCM’s).
➤ Clearing Members - are responsible for settling the obligations on behalf of the Trading Member as determined by the Clearing Corporation. Clearing Member need to make funds and/ or securities available in the designated accounts on the settlement day.
➤ Clearing Banks - settlement of funds takes place through clearing banks. All CMs need to have their cash account opened with one of the clearing banks
➤ Depository Participants - An agent of the depository through which it interfaces with the investor and provides depository services.