Depository Participant services are one of the products offered by the GO TX system. As with any other product, a client of GO TX may choose Depository Services, for either NSDL or CDSL, to be added to his array of products and services. GO TX interfaces with the appropriate Depository for account creation services.
GO TX provides the following facilities for managing DP accounts:
- Account opening for CDSL and NSDL
- Clearing Member and Investor accounts
- Support for POA accounts
- Dormant account tracking
- Capturing of single / multiple signatures for client / POA
The role played by GO TX in maintaining an investor’s Depository account is illustrated below.
GO TX facilitates interaction with the depositories for transfer instructions by providing the following:
- Interface to NSDL and CDSL
- Slip Management
- Configurable Verification and Approval Facilities
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a printable/viewable report. Features of the DP billing system of GO TX include,
- Rule based DP Charges maintenance, calculation & Billing
- Slab-based and per transaction calculation
- Charges defined according to Transaction type
- Flat-rate and percentage based computation
GO TX provides a variety of reports and statements for the Depository Participant, some of which are also in compliance with the Depositories’ regulations,
- Client Account statement
- Billing Statement
- DP Charges statement
- High Value Transaction Report
- POA register
- Nomination Register
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- Delivery Instructions via Slip entry or file upload
- On-Market
- Off-Market
- Early Pay-in
- Normal Pay-in
- Inter-settlement
- Pool to Pool
- Inter-Depository
- Processing of Depository Transaction Files
- Processing of Depository Master files
Accounting entries are posted for each transfer made from and to a DP account. In GO TX, posting occurs when the DP50/SOT file from CDSL/NSDL is processed. Other features of Stock accounting in GO TX include,
- Depository-specific General Ledger accounts
- Automatic posting of events
- Reconciliation of GO TX balances with the Depository balances
- Journal Entry facility
- Trial Balance check
The Depository Participant is given the option of selecting the computation method and rate to be applied when billing transactions by defining ‘Client Charge Plans’. These plans are then associated with individual DP accounts. The computed charges include any taxes that are applicable and are available as
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