{"id":5306,"date":"2022-03-04T13:27:32","date_gmt":"2022-03-04T07:57:32","guid":{"rendered":"https:\/\/hicm.in\/Stage\/?page_id=5306"},"modified":"2023-08-16T19:37:08","modified_gmt":"2023-08-16T14:07:08","slug":"ebook-certified-investment-banking-market-infrastructure-2","status":"publish","type":"page","link":"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/","title":{"rendered":"Market Infrastructure-2"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"5306\" class=\"elementor elementor-5306\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6d65ea77 envato-kit-141-top-0 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6d65ea77\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-4571f04f\" data-id=\"4571f04f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-401aee elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"401aee\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:50}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Ebook- Certified investment banking<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-15e27897 elementor-widget-divider--view-line elementor-invisible elementor-widget elementor-widget-divider\" data-id=\"15e27897\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:200}\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-25be45d elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"25be45d\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:50}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">MARKET INFRASTRUCTURE INSTITUTIONS -2<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1cbff09 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"1cbff09\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:250}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e72bc;color:#1e72bc\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e72bc;color:#1e72bc\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#What_is_Demat_pay-in\" >What is Demat pay-in<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Auto_delivery_facility\" >Auto delivery facility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Pay-in_of_securities_in_physical_form\" >Pay-in of securities in physical form<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Funds_Pay-in\" >Funds Pay-in<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Securities_Pay-out\" >Securities Pay-out<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Funds_Payout\" >Funds Payout<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Market_Abuse\" >Market Abuse<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Join_certified_investment_banking_course\" >Join certified investment banking course<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#NATIONAL_STOCK_EXCHANGE_OF_INDIA_LTD_NSEIL\" >NATIONAL STOCK EXCHANGE OF INDIA LTD. (NSEIL)<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Capital_Market_Segment\" >Capital Market Segment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Wholesale_Debt_Market_Segment\" >Wholesale Debt Market Segment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Contracts\" >Contracts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Clearing_and_Settlement\" >Clearing and Settlement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Derivatives_Segment\" >Derivatives Segment<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#TRADING_AND_SETTLEMENT_AT_NSE\" >TRADING AND SETTLEMENT AT NSE<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Automated_screen_based_trading\" >Automated screen based trading<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#National_Securities_Clearing_Corporation_Limited_NSCCL\" >National Securities Clearing Corporation Limited (NSCCL)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Clearing_Mechanism\" >Clearing Mechanism<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Clearing\" >Clearing<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#STRAIGHT_THROUGH_PROCESSING\" >STRAIGHT THROUGH PROCESSING<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#Advantages_of_Straight_Through_Processing\" >Advantages of Straight Through Processing<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/#WHAT_IS_RISK_MANAGEMENT\" >WHAT IS RISK MANAGEMENT<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"What_is_Demat_pay-in\"><\/span><p style=\"font-size: 12px\"><span style=\"color: #3564FF\">What is Demat pay-in<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ceb437e elementor-widget elementor-widget-text-editor\" data-id=\"ceb437e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe member-brokers can effect pay-in of demat securities to the Clearing House either through the National Securities Depository Ltd. (NSDL) or Central Depository Services (I) Ltd. (CDSL). In case of NSDL, the member- brokers are required to give instructions to their respective Depository Participants (DPs) specifying settlement no., settlement type, effective pay-in date, quantity, etc. <br><br>\n\nAs regards CDSL, the member-brokers give pay-in instructions to their respective DPs. The securities are transferred by the DPs to the Clearing Member (CM) Principal Account. The member-brokers are required to give confirmation to their DPs, so that securities are processed towards pay-in obligations. <br><br>\n Alternatively, the member-brokers may also effect pay-in from the clients&#8217; beneficiary accounts. For this, the clients are required to mention the settlement details and clearing member-broker ID of the member-broker through whom they have sold the securities. <br><br>\nThus, in such cases the Clearing Members are not required to give any delivery instructions from their accounts. In case a member fails to deliver the securities, the value of shares delivered short is recovered from him at the standard\/closing rate of the scrips in the trading day\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-5b08bdc7\" data-id=\"5b08bdc7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-45da6e6 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"45da6e6\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:250}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Auto_delivery_facility\"><\/span><p style=\"font-size: 12px\"><span style=\"color: #3564FF\">Auto delivery facility<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4886e340 elementor-widget elementor-widget-text-editor\" data-id=\"4886e340\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tInstead of issuing Delivery instructions for their securities delivery obligations in demat mode in various scrips in a settlement \/auction, a facility has been made available to the member-brokers of automatically generating Delivery instructions on their behalf from their CM Pool accounts maintained with NSDL and CM Principal Accounts maintained with CDSL. <br><br>\nThis auto delivery facility is available for CRS (Normal &#038; Auction) and for trade to trade settlements. This facility is, however, not available for delivery of non-pari passu shares and shares having multiple International Securities Identification Number (ISINs). <br><br>\nThe member-brokers wishing to avail of this facility have to submit an authority letter to the Clearing House. This auto delivery facility is currently available for Clearing Member (CM) Pool \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-6fa4057e elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-invisible\" data-id=\"6fa4057e\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;animation&quot;:&quot;fadeIn&quot;,&quot;animation_delay&quot;:400}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-737975f2\" data-id=\"737975f2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7820fef8 elementor-widget elementor-widget-heading\" data-id=\"7820fef8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Pay-in_of_securities_in_physical_form\"><\/span><p style=\"font-size: 12px\"><span style=\"color: #3564FF\">Pay-in of securities in physical form<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7ce4bda5 elementor-widget elementor-widget-text-editor\" data-id=\"7ce4bda5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-size: 14px;\"><span style=\"color: #000;\">In case of delivery of securities in physical form, the member-brokers have to deliver the securities to the Clearing House in special closed pouches along with the relevant details like distinctive numbers, scrip code, quantity, etc., on a floppy.<\/span><\/p>\n<p style=\"text-align: center;\"><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-5e784f9\" data-id=\"5e784f9\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6231d25 elementor-widget elementor-widget-heading\" data-id=\"6231d25\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Funds_Pay-in\"><\/span><p style=\"font-size: 12px\"><span style=\"color: #3564FF\">Funds Pay-in<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-477b88f elementor-widget elementor-widget-text-editor\" data-id=\"477b88f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"font-size: 14px;\"><span style=\"color: #000;\">Once the reconciliation of securities is completed by the Clearing House, the bank accounts of member-brokers maintained with the ten clearing banks, are directly debited through computerized posting for their funds settlement obligations.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-10a4983a elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"10a4983a\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;shape_divider_bottom&quot;:&quot;waves&quot;,&quot;shape_divider_bottom_negative&quot;:&quot;yes&quot;,&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t<div class=\"elementor-shape elementor-shape-bottom\" aria-hidden=\"true\" data-negative=\"true\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" d=\"M790.5,93.1c-59.3-5.3-116.8-18-192.6-50c-29.6-12.7-76.9-31-100.5-35.9c-23.6-4.9-52.6-7.8-75.5-5.3\n\tc-10.2,1.1-22.6,1.4-50.1,7.4c-27.2,6.3-58.2,16.6-79.4,24.7c-41.3,15.9-94.9,21.9-134,22.6C72,58.2,0,25.8,0,25.8V100h1000V65.3\n\tc0,0-51.5,19.4-106.2,25.7C839.5,97,814.1,95.2,790.5,93.1z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-fe194d2\" data-id=\"fe194d2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-48768d6 elementor-widget elementor-widget-heading\" data-id=\"48768d6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Securities_Pay-out\"><\/span><p style=\"font-size: 12px\"><span style=\"color: #3564FF\">Securities Pay-out<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3fb78b1 elementor-widget elementor-widget-text-editor\" data-id=\"3fb78b1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIn case of demat securities, the same are credited by the Clearing House in the Pool\/Principal Accounts of the member-brokers. The Exchange has also provided a facility to the member-brokers for transfer of pay-out securities directly to the clients&#8217; beneficiary owner accounts without routing the same through their Pool\/Principal accounts in NSDL\/CDSL\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-7cc49f9\" data-id=\"7cc49f9\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4f181c5 elementor-widget elementor-widget-heading\" data-id=\"4f181c5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Funds_Payout\"><\/span><p style=\"font-size: 12px\"><span style=\"color: #3564FF\">Funds Payout<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ef833db elementor-widget elementor-widget-text-editor\" data-id=\"ef833db\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe bank accounts of the member-brokers having pay-out of funds are credited by the Clearing House with the Clearing Banks on the same day. This process is referred to as Pay-out of Funds.\nIn case, if a member-broker fails to deliver the securities, then the value of shares delivered short is recovered from him at the standard\/closing rate of the scrips on the trading day.\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-b310822\" data-id=\"b310822\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8d1e5ae elementor-widget elementor-widget-heading\" data-id=\"8d1e5ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Market_Abuse\"><\/span><p style=\"font-size: 12px\"><span style=\"color: #3564FF\">Market Abuse<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d089fdd elementor-widget elementor-widget-text-editor\" data-id=\"d089fdd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIt is a broad term which includes abnormal price\/ volume movement, artificial transactions, false or misleading impressions, insider trading, etc. In order to detect aberrant behaviour\/ movement, it is necessary to know the normal market behaviour\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-47bc0f35 elementor-section-content-middle elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-invisible\" data-id=\"47bc0f35\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;,&quot;animation&quot;:&quot;fadeIn&quot;,&quot;shape_divider_top&quot;:&quot;waves&quot;,&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t<div class=\"elementor-shape elementor-shape-top\" aria-hidden=\"true\" data-negative=\"false\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" d=\"M421.9,6.5c22.6-2.5,51.5,0.4,75.5,5.3c23.6,4.9,70.9,23.5,100.5,35.7c75.8,32.2,133.7,44.5,192.6,49.7\n\tc23.6,2.1,48.7,3.5,103.4-2.5c54.7-6,106.2-25.6,106.2-25.6V0H0v30.3c0,0,72,32.6,158.4,30.5c39.2-0.7,92.8-6.7,134-22.4\n\tc21.2-8.1,52.2-18.2,79.7-24.2C399.3,7.9,411.6,7.5,421.9,6.5z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-5de240ce\" data-id=\"5de240ce\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e8b0cc8 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"e8b0cc8\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:50}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Join_certified_investment_banking_course\"><\/span><a href=\"https:\/\/hicm.in\/Stage\/certified-investment-banker\/\"><p style=\"font-size: 1.5rem\"><span style=\"color: #fff\">Join certified investment banking course<\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6309f2f4 animated-fast elementor-invisible elementor-widget elementor-widget-text-editor\" data-id=\"6309f2f4\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInLeft&quot;,&quot;_animation_delay&quot;:800}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tTwo months Industry Integrated program\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-1b4759b2\" data-id=\"1b4759b2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-61723d5 elementor-mobile-align-center animated-fast elementor-align-center elementor-tablet-align-center elementor-invisible elementor-widget elementor-widget-button\" data-id=\"61723d5\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-lg\" href=\"https:\/\/wa.me\/+919414259250\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">click for watsapp chat<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6e2d3448 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6e2d3448\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-64645bbb\" data-id=\"64645bbb\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3fcb71c animated-fast elementor-invisible elementor-widget elementor-widget-testimonial\" data-id=\"3fcb71c\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"testimonial.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-testimonial-wrapper\">\n\t\t\t\t\t\t\t<div class=\"elementor-testimonial-content\">I have attended the Investment Banking course &amp; had a very good experience , Very good faculties &amp; they shared in depth knowledge about the subject. Very good institute to join for  Investment Banking.<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-testimonial-meta elementor-has-image elementor-testimonial-image-position-aside\">\n\t\t\t\t<div class=\"elementor-testimonial-meta-inner\">\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-testimonial-image\">\n\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"259\" height=\"345\" src=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/Kushal.jpg\" class=\"attachment-full size-full wp-image-5379\" alt=\"\" srcset=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/Kushal.jpg 259w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/Kushal-225x300.jpg 225w\" sizes=\"(max-width: 259px) 100vw, 259px\" \/>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-testimonial-details\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-testimonial-name\">Kushal<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-testimonial-job\">Financial analyst<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-4ab0faf\" data-id=\"4ab0faf\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d0124ec animated-fast elementor-invisible elementor-widget elementor-widget-testimonial\" data-id=\"d0124ec\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"testimonial.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-testimonial-wrapper\">\n\t\t\t\t\t\t\t<div class=\"elementor-testimonial-content\">Recently, I joined online Investment banking course at HICM Institute. I had a really great experience and learned new concepts  about capital market and banking which I have never heard before.<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-testimonial-meta elementor-has-image elementor-testimonial-image-position-aside\">\n\t\t\t\t<div class=\"elementor-testimonial-meta-inner\">\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-testimonial-image\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"587\" height=\"639\" src=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/Surabhi.jpg\" class=\"attachment-full size-full wp-image-5383\" alt=\"\" srcset=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/Surabhi.jpg 587w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/Surabhi-276x300.jpg 276w\" sizes=\"(max-width: 587px) 100vw, 587px\" \/>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-testimonial-details\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-testimonial-name\">Surabhi<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-testimonial-job\">CA<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-6c9b3199\" data-id=\"6c9b3199\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-46261ee6 animated-fast elementor-invisible elementor-widget elementor-widget-testimonial\" data-id=\"46261ee6\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"testimonial.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-testimonial-wrapper\">\n\t\t\t\t\t\t\t<div class=\"elementor-testimonial-content\">Attended certified investment cource in HICM Institute learned many basic as well as complicated things in stock market really loved the he thaught us and also clarified every doubts we had. <\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-testimonial-meta elementor-has-image elementor-testimonial-image-position-aside\">\n\t\t\t\t<div class=\"elementor-testimonial-meta-inner\">\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-testimonial-image\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/Visruddh-Shetty-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail wp-image-5385\" alt=\"\" \/>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-testimonial-details\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-testimonial-name\">Vishruth <\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-testimonial-job\">Student<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-723606c6 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"723606c6\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-37359d88\" data-id=\"37359d88\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-14456f35 elementor-invisible elementor-widget elementor-widget-image\" data-id=\"14456f35\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;zoomIn&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"759\" height=\"422\" src=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/indian-stock-market-bse-bloomberg-759.jpg\" class=\"attachment-full size-full wp-image-5416\" alt=\"\" srcset=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/indian-stock-market-bse-bloomberg-759.jpg 759w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/indian-stock-market-bse-bloomberg-759-300x167.jpg 300w\" sizes=\"(max-width: 759px) 100vw, 759px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-45bf5584\" data-id=\"45bf5584\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7756fd4 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"7756fd4\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:50}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"NATIONAL_STOCK_EXCHANGE_OF_INDIA_LTD_NSEIL\"><\/span> <p style=\"font-size: 1rem\"><span style=\"color: #65CC55\">NATIONAL STOCK EXCHANGE OF INDIA LTD. (NSEIL)<span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3a1272b9 animated-fast elementor-invisible elementor-widget elementor-widget-text-editor\" data-id=\"3a1272b9\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tBased on Pherwani Committees report submitted in June, 1991, the National Stock Exchange of India Limited (NSEIL) was established to provide an efficient system eliminating all the deficiencies of stock exchanges and is geared to meet the requirements of the large investor population. <br><br>\nIt is a single stock exchange and all other centres are electronically linked to this exchange. NSEIL was promoted by leading FIs at the behest of Government of India and was incorporated in November 1992 as a tax-paying company unlike other stock exchanges in the country. <br><br>\nOn its recognition as a stock exchange under the Securities Contracts (Regulation) Act, 1956 in April 1993, NSEIL commenced operations in the Wholesale Debt Market (WDM) segment in June 1994, operations in the Capital Market (CM) segment in November 1994, and operations in derivatives segment in June 2000\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-206bfb4e elementor-align-left elementor-mobile-align-justify elementor-invisible elementor-widget elementor-widget-button\" data-id=\"206bfb4e\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;,&quot;_animation_delay&quot;:500}\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/forms.gle\/mnnC19JAeT9NvaQc6\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Register for demo class<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8276f91 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8276f91\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;shape_divider_bottom&quot;:&quot;waves&quot;,&quot;shape_divider_bottom_negative&quot;:&quot;yes&quot;,&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t<div class=\"elementor-shape elementor-shape-bottom\" aria-hidden=\"true\" data-negative=\"true\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" d=\"M790.5,93.1c-59.3-5.3-116.8-18-192.6-50c-29.6-12.7-76.9-31-100.5-35.9c-23.6-4.9-52.6-7.8-75.5-5.3\n\tc-10.2,1.1-22.6,1.4-50.1,7.4c-27.2,6.3-58.2,16.6-79.4,24.7c-41.3,15.9-94.9,21.9-134,22.6C72,58.2,0,25.8,0,25.8V100h1000V65.3\n\tc0,0-51.5,19.4-106.2,25.7C839.5,97,814.1,95.2,790.5,93.1z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-6b09a94\" data-id=\"6b09a94\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f8b4562 elementor-widget elementor-widget-heading\" data-id=\"f8b4562\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Capital_Market_Segment\"><\/span><p style=\"font-size: 12px\"><span style=\"color: #3564FF\">Capital Market Segment<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1278cf0 elementor-widget elementor-widget-text-editor\" data-id=\"1278cf0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe Capital Market (CM) segment of NSEIL provides a fully automated screen based trading system for trading of equity and preference shares, debentures, warrants and coupons. The trading system, known as the National Exchange for Automated Trading (NEAT) system, is an anonymous order-driven system and operates on a strict price\/time priority. It enables members from across the country to trade simultaneously with enormous ease and efficiency\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-ff2e171\" data-id=\"ff2e171\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6c78c64 elementor-widget elementor-widget-heading\" data-id=\"6c78c64\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Wholesale_Debt_Market_Segment\"><\/span><p style=\"font-size: 12px\"><span style=\"color: #3564FF\">Wholesale Debt Market Segment<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ed0eb4f elementor-widget elementor-widget-text-editor\" data-id=\"ed0eb4f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe WDM segment provides the only formal trading platform for trading of a wide range of debt securities. Initially, government securities, treasury bills and bonds issued by public sector undertakings (PSUs) were made available for trading. This range has been widened to include non-traditional instruments like floating rate bonds, zero coupon bonds, index bonds, commercial papers, certificates of deposit, corporate debentures, state government loans, units of mutual funds.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-e57028c\" data-id=\"e57028c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-badaa76 elementor-widget elementor-widget-heading\" data-id=\"badaa76\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Contracts\"><\/span><p style=\"font-size: 12px\"><span style=\"color: #3564FF\">Contracts<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-04ed04b elementor-widget elementor-widget-text-editor\" data-id=\"04ed04b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tFutures contract on the NSEIL is based on S&#038;P CNX Nifty Index. Currently, it has a maximum of 3-month\nexpiration cycle. Three contracts are available for trading with 1 month, 2 months and 3 months expiry. A new contract is introduced on the next trading day following the expiry of the near month contract. Various conditions like, Good-till-Day, Good-till-Cancelled, Good-till- Date, Immediate or Cancel, Stop loss, etc. can be built into an order\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-45ab036 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"45ab036\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;shape_divider_bottom&quot;:&quot;waves&quot;,&quot;shape_divider_bottom_negative&quot;:&quot;yes&quot;,&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t<div class=\"elementor-shape elementor-shape-bottom\" aria-hidden=\"true\" data-negative=\"true\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" d=\"M790.5,93.1c-59.3-5.3-116.8-18-192.6-50c-29.6-12.7-76.9-31-100.5-35.9c-23.6-4.9-52.6-7.8-75.5-5.3\n\tc-10.2,1.1-22.6,1.4-50.1,7.4c-27.2,6.3-58.2,16.6-79.4,24.7c-41.3,15.9-94.9,21.9-134,22.6C72,58.2,0,25.8,0,25.8V100h1000V65.3\n\tc0,0-51.5,19.4-106.2,25.7C839.5,97,814.1,95.2,790.5,93.1z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-2456df6\" data-id=\"2456df6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-19d418f elementor-widget elementor-widget-heading\" data-id=\"19d418f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Clearing_and_Settlement\"><\/span><p style=\"font-size: 12px\"><span style=\"color: #3564FF\">Clearing and Settlement<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8dba7b6 elementor-widget elementor-widget-text-editor\" data-id=\"8dba7b6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tNSCCL undertakes clearing and settlement of all deals executed on the NSEIL\u2019s Derivatives segment. It acts as legal counterparty to all deals on the Derivatives segment and guarantees settlement.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-75ced1c\" data-id=\"75ced1c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1f6437c elementor-widget elementor-widget-heading\" data-id=\"1f6437c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Derivatives_Segment\"><\/span><p style=\"font-size: 12px\"><span style=\"color: #3564FF\">Derivatives Segment<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c53adb5 elementor-widget elementor-widget-text-editor\" data-id=\"c53adb5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIn the Derivatives segment, NSCCL has admitted Clearing Members (CMs) distinct from Trading Members (TMs) in line with the 2-tier membership structure stipulated by SEBI to enable wider participation in the Derivatives segment. All trades on the Derivatives segment are cleared through a CM of NSCCL.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4d55b35 elementor-section-height-min-height elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"4d55b35\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-45e3dd16\" data-id=\"45e3dd16\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-71691b6e elementor-widget elementor-widget-heading\" data-id=\"71691b6e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"TRADING_AND_SETTLEMENT_AT_NSE\"><\/span> <p style=\"font-size: 1.2rem\"><span style=\"color: #000\">TRADING AND SETTLEMENT AT NSE<span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7296941b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7296941b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-65af5f6d\" data-id=\"65af5f6d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-19d508f5 elementor-widget elementor-widget-image\" data-id=\"19d508f5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"847\" height=\"565\" src=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/sales-and-trading-1-1024x683.jpeg\" class=\"elementor-animation-hang attachment-large size-large wp-image-5505\" alt=\"\" srcset=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/sales-and-trading-1-1024x683.jpeg 1024w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/sales-and-trading-1-300x200.jpeg 300w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/sales-and-trading-1-768x512.jpeg 768w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/sales-and-trading-1.jpeg 1125w\" sizes=\"(max-width: 847px) 100vw, 847px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-f82e5a1\" data-id=\"f82e5a1\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6c9501d5 elementor-widget elementor-widget-heading\" data-id=\"6c9501d5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Automated_screen_based_trading\"><\/span> <p style=\"font-size: 1.2rem\"><span style=\"color: #000\">Automated screen based trading<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-16db99c3 elementor-widget elementor-widget-text-editor\" data-id=\"16db99c3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tNSE introduced for the first time in India, fully automated screen based trading. It uses a modern, fully computerised trading system designed to offer investors across the length and breadth of the country a safe and easy way to invest.\nThe NSE trading system called &#8216;National Exchange for Automated Trading&#8217; (NEAT) is a fully automated screen based trading system, which adopts the principle of an order driven market.\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-13c33d3a elementor-reverse-mobile elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"13c33d3a\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-36734e5f\" data-id=\"36734e5f\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ad7b8af elementor-widget elementor-widget-heading\" data-id=\"ad7b8af\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"National_Securities_Clearing_Corporation_Limited_NSCCL\"><\/span> <p style=\"font-size: 1.2rem\"><span style=\"color: #000\">National Securities Clearing Corporation Limited (NSCCL)<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-345d8b3a elementor-widget elementor-widget-text-editor\" data-id=\"345d8b3a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThis company incorporated as a wholly owned subsidiary of the National Stock Exchange of India Limited carries out clearing and settlement of the trades executed in the capital market segment of National Stock Exchange. This company completes the settlement promptly without delay or deferment. It operates on behalf of the clearing members from and to regional clearing centres and central clearing centres at Mumbai. It was the first organisation to start pre-delivery verification to detect bad papers in the form of fake or forged certificates or lost and stolen share certificates through the automated mechanism of the clearing corporation. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1349d626\" data-id=\"1349d626\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7d119cf0 elementor-widget elementor-widget-image\" data-id=\"7d119cf0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"847\" height=\"476\" src=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/NSe-1024x576.jpg\" class=\"elementor-animation-hang attachment-large size-large wp-image-5512\" alt=\"\" srcset=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/NSe-1024x576.jpg 1024w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/NSe-300x169.jpg 300w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/NSe-768x432.jpg 768w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/NSe.jpg 1500w\" sizes=\"(max-width: 847px) 100vw, 847px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-63c3da3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"63c3da3\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-937cc3b\" data-id=\"937cc3b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8c7b6ef elementor-widget elementor-widget-image\" data-id=\"8c7b6ef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"847\" height=\"565\" src=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/sales-and-trading-1-1024x683.jpeg\" class=\"elementor-animation-hang attachment-large size-large wp-image-5505\" alt=\"\" srcset=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/sales-and-trading-1-1024x683.jpeg 1024w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/sales-and-trading-1-300x200.jpeg 300w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/sales-and-trading-1-768x512.jpeg 768w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/sales-and-trading-1.jpeg 1125w\" sizes=\"(max-width: 847px) 100vw, 847px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-f23bf9d\" data-id=\"f23bf9d\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0431ccf elementor-widget elementor-widget-heading\" data-id=\"0431ccf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Clearing_Mechanism\"><\/span> <p style=\"font-size: 1.2rem\"><span style=\"color: #000\">Clearing Mechanism<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-814ac2e elementor-widget elementor-widget-text-editor\" data-id=\"814ac2e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: left;\"><span style=\"color: #000;\">Trades in rolling segment are cleared and settled on a netted basis. Trading and settlement periods are specified by the Exchange\/Clearing Corporation from time to time. Deals executed during a particular trading period are netted at the end of that trading period and settlement obligations for that settlement period are computed. A multilateral netting procedure is adopted to determine the net settlement obligations.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-350963c elementor-reverse-mobile elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"350963c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-f96a9a3\" data-id=\"f96a9a3\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6797d95 elementor-widget elementor-widget-heading\" data-id=\"6797d95\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Clearing\"><\/span> <p style=\"font-size: 1.2rem\"><span style=\"color: #000\">Clearing<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8607903 elementor-widget elementor-widget-text-editor\" data-id=\"8607903\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tClearing is the process of determination of obligations, after which the obligations are discharged by settlement.\nNSCCL has two categories of clearing members: trading members and custodians. The trading members can pass on its obligation to the custodians if the custodian confirms the same to NSCCL. All the trades whose obligation the trading member proposes to pass on to the custodian are forwarded to the custodian by NSCCL for their confirmation. The custodian is required to confirm these trade on T + 1 days basis.\nOnce, the above activities are completed, NSCCL starts its function of Clearing. It uses the concept of multi- lateral netting for determining the obligations of counter parties. Accordingly, a clearing member would have either pay-in or pay-out obligations for funds and securities separately. Thus, members pay-in and pay-out obligations for funds and securities are determined latest by T + 1 day and are forwarded to them so that they can settle their obligations on the settlement day (T+2)\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-98b4f2f\" data-id=\"98b4f2f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c8f18ba elementor-widget elementor-widget-image\" data-id=\"c8f18ba\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"847\" height=\"476\" src=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/NSe-1024x576.jpg\" class=\"elementor-animation-hang attachment-large size-large wp-image-5512\" alt=\"\" srcset=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/NSe-1024x576.jpg 1024w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/NSe-300x169.jpg 300w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/NSe-768x432.jpg 768w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/NSe.jpg 1500w\" sizes=\"(max-width: 847px) 100vw, 847px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-412f78b9 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"412f78b9\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d1caeeb\" data-id=\"d1caeeb\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1681ae6e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1681ae6e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7971a695\" data-id=\"7971a695\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-64ecdda4 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"64ecdda4\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"STRAIGHT_THROUGH_PROCESSING\"><\/span> <p style=\"font-size: 1.2rem\"><span style=\"color: #000\">STRAIGHT THROUGH PROCESSING\n<span class=\"ez-toc-section-end\"><\/span><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5aa484b9 elementor-invisible elementor-widget elementor-widget-text-editor\" data-id=\"5aa484b9\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInLeft&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tStraight Through Processing (STP) is generally understood to be a mechanism that automates the end to end processing of transactions of financial instruments. <br><br>It involves use of a system to process or control all elements of the work flow of a financial transaction, what are commonly known as the Front, Middle, Back office and General Ledger. In other words, STP allows electronic capturing and processing of transactions in one pass from the point of order origination to final settlement.\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2f68e3e5\" data-id=\"2f68e3e5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-48b292e2 elementor-widget elementor-widget-spacer\" data-id=\"48b292e2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-211a3ae0 elementor-widget elementor-widget-image\" data-id=\"211a3ae0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"762\" src=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/language-school-peoplea.png\" class=\"attachment-full size-full wp-image-5529\" alt=\"\" srcset=\"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/language-school-peoplea.png 1200w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/language-school-peoplea-300x191.png 300w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/language-school-peoplea-1024x650.png 1024w, https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/language-school-peoplea-768x488.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-65164762 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"65164762\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-16 elementor-top-column elementor-element elementor-element-9a630c\" data-id=\"9a630c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-116cfac8 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"116cfac8\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInDown&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Advantages_of_Straight_Through_Processing\"><\/span> <p style=\"font-size: 1.2rem\"><span style=\"color: #003E99\">Advantages of Straight Through Processing<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-16 elementor-top-column elementor-element elementor-element-b9eeb38\" data-id=\"b9eeb38\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0743405 elementor-widget elementor-widget-heading\" data-id=\"0743405\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\"> <p style=\"font-size: 1rem\"><span style=\"color: #000\">Reduced risk<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-443303f elementor-widget elementor-widget-heading\" data-id=\"443303f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\"> <p style=\"font-size: 1rem\"><span style=\"color: #000\">Automation of manual process minimizing errors<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-16 elementor-top-column elementor-element elementor-element-347dfc8d\" data-id=\"347dfc8d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7c12a4e3 elementor-widget elementor-widget-heading\" data-id=\"7c12a4e3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\"> <p style=\"font-size: 1rem\"><span style=\"color: #000\">Greater transparency with clear audit trail<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-32419ae elementor-widget elementor-widget-heading\" data-id=\"32419ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\"> <p style=\"font-size: 1rem\"><span style=\"color: #000\">Increases competitive advantage of our markets<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-16 elementor-top-column elementor-element elementor-element-d4d4171\" data-id=\"d4d4171\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2cb9a15 elementor-widget elementor-widget-heading\" data-id=\"2cb9a15\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\"> <p style=\"font-size: 1rem\"><span style=\"color: #000\">Eliminates paper work and minimizes manual intervention<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a53282b elementor-widget elementor-widget-heading\" data-id=\"a53282b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\"> <p style=\"font-size: 1rem\"><span style=\"color: #000\">Enables increased cross border trading (FII trades)<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-16 elementor-top-column elementor-element elementor-element-5767bf5\" data-id=\"5767bf5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f1fdd2d elementor-widget elementor-widget-heading\" data-id=\"f1fdd2d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\"> <p style=\"font-size: 1rem\"><span style=\"color: #000\">Improved operational efficiency in handling larger volumes<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-76dcc3a elementor-widget elementor-widget-heading\" data-id=\"76dcc3a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\"> <p style=\"font-size: 1rem\"><span style=\"color: #000\">Facilitates movement towards shorter settlement cycles (T+1)<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-16 elementor-top-column elementor-element elementor-element-aeb7490\" data-id=\"aeb7490\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8a6e4ef elementor-widget elementor-widget-heading\" data-id=\"8a6e4ef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\"> <p style=\"font-size: 1rem\"><span style=\"color: #000\">Timely settlement of trades and instructions<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-515d10e elementor-widget elementor-widget-heading\" data-id=\"515d10e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\"> <p style=\"font-size: 1rem\"><span style=\"color: #000\">Lower cost per trade<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2b3e4d6e elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2b3e4d6e\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a3439cc\" data-id=\"a3439cc\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2ba42fd6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2ba42fd6\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-69d8f40f\" data-id=\"69d8f40f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-229f38e animated-fast elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"229f38e\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"WHAT_IS_RISK_MANAGEMENT\"><\/span> <p style=\"font-size: 1.2rem\"><span style=\"color: #1B2F4C\">WHAT IS RISK MANAGEMENT<span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2fce2f72 elementor-invisible elementor-widget elementor-widget-text-editor\" data-id=\"2fce2f72\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInLeft&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe broker shall ensure that trading limits\/ exposure limits\/ position limits are set for all DMA clients based on risk assessment, credit quality and available margins of the client. The broker system shall have appropriate authority levels to ensure that the limits can be set up only by persons authorized by the risk \/ compliance manager. The broker shall ensure that all DMA orders are routed through electronic\/automated risk management systems of the broker to carry out appropriate validations of all risk parameters including Quantity Limits, Price Range Checks, Order Value, and Credit Checks before the orders are released to the Exchange\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Ebook- Certified investment banking MARKET INFRASTRUCTURE INSTITUTIONS -2 What is Demat pay-in The member-brokers can effect pay-in of demat securities to the Clearing House either through the National Securities Depository Ltd. (NSDL) or Central Depository Services (I) Ltd. (CDSL). In <a href=\"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_eb_attr":"","footnotes":""},"class_list":["post-5306","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Market Infrastructure-2 - HICM- Investment Banking training ,Stock Market Training Institute, Future and Options, Open DEEMAT Account, Business Analyst Training, Technical Analyst training, Equity dealer, wealth management, Intraday trading, 100% placement assistance, Swing trading, Investment Banker training, Fund accountant training. 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NISM Certification courses, Technical Charts &amp; patters, Japanese Candlesticks, Certification Programs, RSI, Moving Averages, VIX, NSE\/BSE courses, Algorithm trading","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/","og_locale":"en_US","og_type":"article","og_title":"Market Infrastructure-2 - HICM- Investment Banking training ,Stock Market Training Institute, Future and Options, Open DEEMAT Account, Business Analyst Training, Technical Analyst training, Equity dealer, wealth management, Intraday trading, 100% placement assistance, Swing trading, Investment Banker training, Fund accountant training. NISM Certification courses, Technical Charts &amp; patters, Japanese Candlesticks, Certification Programs, RSI, Moving Averages, VIX, NSE\/BSE courses, Algorithm trading","og_description":"Ebook- Certified investment banking MARKET INFRASTRUCTURE INSTITUTIONS -2 What is Demat pay-in The member-brokers can effect pay-in of demat securities to the Clearing House either through the National Securities Depository Ltd. (NSDL) or Central Depository Services (I) Ltd. (CDSL). In Read More ...","og_url":"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/","og_site_name":"HICM- Investment Banking training ,Stock Market Training Institute, Future and Options, Open DEEMAT Account, Business Analyst Training, Technical Analyst training, Equity dealer, wealth management, Intraday trading, 100% placement assistance, Swing trading, Investment Banker training, Fund accountant training. NISM Certification courses, Technical Charts &amp; patters, Japanese Candlesticks, Certification Programs, RSI, Moving Averages, VIX, NSE\/BSE courses, Algorithm trading","article_modified_time":"2023-08-16T14:07:08+00:00","og_image":[{"url":"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/03\/Kushal.jpg","type":"","width":"","height":""}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"10 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/","url":"https:\/\/hicm.in\/Stage\/ebook-certified-investment-banking-market-infrastructure-2\/","name":"Market Infrastructure-2 - HICM- Investment Banking training ,Stock Market Training Institute, Future and Options, Open DEEMAT Account, Business Analyst Training, Technical Analyst training, Equity dealer, wealth management, Intraday trading, 100% placement assistance, Swing trading, Investment Banker training, Fund accountant training. 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NISM Certification courses, Technical Charts &amp; patters, Japanese Candlesticks, Certification Programs, RSI, Moving Averages, VIX, NSE\/BSE courses, Algorithm trading","publisher":{"@id":"https:\/\/hicm.in\/Stage\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/hicm.in\/Stage\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en"},{"@type":"Organization","@id":"https:\/\/hicm.in\/Stage\/#organization","name":"Hindustan Institute of Capital Market","url":"https:\/\/hicm.in\/Stage\/","logo":{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/hicm.in\/Stage\/#\/schema\/logo\/image\/","url":"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/07\/hicm-cover.jpg","contentUrl":"https:\/\/hicm.in\/Stage\/wp-content\/uploads\/2022\/07\/hicm-cover.jpg","width":873,"height":655,"caption":"Hindustan Institute of Capital Market"},"image":{"@id":"https:\/\/hicm.in\/Stage\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/hindustan-institute-of-capital-market","https:\/\/www.youtube.com\/channel\/UC9hzPYXNf9dUrpWkvjM2qWA?sub_confirmation=1"]}]}},"_links":{"self":[{"href":"https:\/\/hicm.in\/Stage\/wp-json\/wp\/v2\/pages\/5306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hicm.in\/Stage\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/hicm.in\/Stage\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/hicm.in\/Stage\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hicm.in\/Stage\/wp-json\/wp\/v2\/comments?post=5306"}],"version-history":[{"count":0,"href":"https:\/\/hicm.in\/Stage\/wp-json\/wp\/v2\/pages\/5306\/revisions"}],"wp:attachment":[{"href":"https:\/\/hicm.in\/Stage\/wp-json\/wp\/v2\/media?parent=5306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}