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PARTICIPANTS
R. Anand
Head of Custody, Stock Holding
Corporation
Atul Badkar
Institutional Client Group, Edelweiss
Viraj Kulkarni
CEO, Pivot Management Consulting
David Jaegly
SBI-SG Global Securities Services
Vivek Harlalka
Head of Sales, India, BNP Paribas
Securities Services
that was a trigger point. It’s almost like BC and AD. We managed
to dematerialise in the space of four or five years; it took almost
two decades for some countries like the US to accomplish that.
Progress is a result of the collaboration among the regulator,
exchanges and the market participants. In the 25 years rom
1992 till 2017, there’s been a huge shift; it’s almost worthy of a
Bollywood movie! Hans Prakash
Chief Business Officer, IL&FS
Securities
Vivek Harlalka: There are 1.66 billion demat accounts at NSDL
and around 1.93 billion at CSDL [the two central depositories], so
if you look at the pace of dematerialisation, it’s significant. From
a service provider point of view, the changes in technology and Richard Schwartz
Global Custodian
“A combination of collaboration, completion
and government-driven policies that have
encouraged the introduction of global best
practices into the country.”
Sachin Samant
Senior Executive Vice President, Kotak
Mahindra
Ravi Varanasi
Chief Business Development Officer,
National Stock Exchange of India
R. ANAND, STOCK HOLDING CORPORATION
infrastructure, the move to rolling settlement and the speed with
which information now passes among participants in post-trade
processes means we have to keep on our toes. Blockchain is going
to be another thing that will affect the markets.
R. Anand: To add to what Vivek said, India moved to T + 2 in
2004, much before the European markets and the US. We had to
learn how to handle that environment and it was a challenging
time. All of us had to adapt to these changes. In fact we have been
regularly collaborating with the regulators and with the other
intermediaries so that the settlement cycle becomes even shorter
Spring 2018
globalcustodian.com
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