NSE extends facility of preferred depository to SLB segment

Leading bourse NSE has extended from today the facility of directing the pay-out to preferred depository to participants trading on the securities lending and borrowing scheme (SLB).
Under this facility, all the participants of SLB can now specify the pool account in either of the two depositories, NSDL or CDSL, wherein they want the pay out to be done.
"NSCCL (a subsidiary of NSE) is extending the facility of directing the pay-out to preferred depository to the participants of securities lending and borrowing scheme for SLB first leg and SLB reverse leg settlement," the exchange said in a circular.
Accordingly, the bourse has asked participants to update their account details in case of shifting/change of account to ensure that the pay-out happens to the preferred depository pool account.

Participants would have to provide details as prescribed in a letter. "Also, the same letter has to be provided in case of closure of the said preferred depository pool account," NSE said.
"Participants may take note that they shall continue to maintain pool accounts in both the depositories," it added.