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SPEED-e is a common Internet infrastructure that enables depository participants to provide depository services to their clients.

What is meant by pre-notified clearing member accounts? Should this pre-notified clearing member also be a user of SPEED-e?

The password users using SPEED-e can deliver securities only in favour of clearing members (brokers).

At the time of registration, the user must notify the details of clearing members (up to a maximum of three) in whose favour the credit can be effected.

These clearing member accounts are referred to as pre-notified clearing member accounts.

It is not necessary that the pre-notified clearing member is also a user of SPEED-e.

How does SPEED-e work?

SPEED-e is an Internet Web site that receives the delivery instructions from the registered users.

These instructions are downloaded by the depository participants (DPs), in batches, from the SPEED-e Web site for execution in the DP's depository system.

The status of execution of instructions is updated on the SPEED-e Web site.

The information regarding balances and transactions in demat accounts is available to the subscribers of IDEAS. Thus, you can check balances in your account, submit delivery instructions to your DP and verify the status of execution of those instructions.

What are the benefits of SPEED-e?

The most important benefit of SPEED-e is the convenience of submitting delivery instructions.

You can access the SPEED-e Web site from anywhere in the world at any point of time, check balances in your account, submit the instructions and track its status.

SPEED-e eliminates the requirement of having to give the delivery instructions in paper form.

Further, if you are a smart card user, you get an added benefit of freezing account(s) / ISIN(s) and / or specific quantity of securities under an ISIN through SPEED-e, which cannot be unfrozen even by your DP.

What is the minimum computer configuration required for accessing SPEED-e?

If you are a password user, all you need is a computer with 32 MB RAM and Windows 95 / 98 / NT having either Microsoft Internet Explorer 5.5 or above or Netscape Navigator 4.7 with an Internet connection.

If you are a smart card user, you need to procure a smart card reader and a smart card with help from your DP. The computer configuration must be 64 MB RAM and Windows 98/NT having Microsoft Internet Explorer 5.5 or above with 128 bit encryption, with an Internet connection.

Once I subscribe to SPEED-e, does it mean that my DP will stop accepting paper based instructions?

No. You can submit paper instructions to your DP. However, if you have given instructions through SPEED-e, you are not required to submit paper instructions to your DP.

Can a Power of Attorney holder (POA) operate my demat account through SPEED-e?

Yes. A POA can operate your demat account through SPEED-e. But, for subscribing to SPEED-e, the original account holder(s) must sign the agreement and the application form. In fact, you may not find the need for a POA to operate your account as you can now operate your account from anywhere in the world, provided you have access to Internet and the necessary infrastructure mentioned in the Answer to Q 19.

If I have several Demat Accounts, can I operate all these accounts through SPEED-e?

Yes. You can operate all your demat accounts through SPEED-e provided your DP has joined SPEED-e and you have registered each of your account separately with distinct User-IDs (applicable for both password and smart card based users).

In case you are a smart card user, you can use the same smart card to operate all your demat accounts.

Can I also view my account on SPEED-e?

Yes. Through IDEAS, clients as well as brokers can view details of transactions and balances in their accounts.

The brokers can also download this information to update their back-offices.

Who can avail of IDEAS?

IDEAS can be availed of by any demat account holder provided its DP has signed up with NSDL for SPEED-e or for providing IDEAS.

The list of DPs who have registered is available at https://speed-e.nsdl.com.

You can avail of IDEAS as a Password or as a Smart Card user.

As a SPEED-e user, how do I register for IDEAS?

Existing SPEED-e users (i.e. both Password and Smart Card users) can click on the "Change Service" link and choose IDEAS. DP will authorise your request and thereafter you will be able to access IDEAS with the same User-Id and password/PIN as the case may be.

If I am not a SPEED-e user, as a client how do I register for IDEAS?

To register as a password user, the client should fill-up an online registration request for IDEAS at SPEED-e Web site, choose its own user-ID and password and submit duly signed print-out of the form to the DP.

Based on the online request and the form submitted by the client, DP authorises the request and thereafter with the user-ID and password, a client can start using IDEAS.

In case you want to register as a smart card user, download the `Application form for IDEAS' for Smart Card Users from SPEED-e Web site or obtain it directly from your DP.

Fill up all particulars and submit the form to your DP who will assign a User-ID and help you procure a Smart Card Kit, DSC and PIN.

Install the Smart Card Kit on to the computer and with the User-Id, DSC and PIN, you can start using IDEAS.

(To be continued)

Source: www.nsdl.co.in

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