INDmoney Uses DTCC for Share Settlement and Investor Protection
1 report, 1 independent
Updated Fri 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
INDmoney confirmed that its shares are settled and held at the Depository Trust & Clearing Corporation, which functions as the US central depository. The company's CEO stated that investor accounts are opened and held in GIFT City. Furthermore, INDmoney requires multi-factor and biometric verification for every login and trade on its platform.
Why it matters
The use of the Depository Trust & Clearing Corporation provides the necessary infrastructure for share settlement. This process is conducted through US clearing and custody firms that maintain membership with the Securities Investor Protection Corporation, offering a layer of protection for investors.
Who's involved
- companyThe company whose shares are settled and whose accounts are held in GIFT City
- Depository Trust & Clearing CorporationThe US central depository where shares are settled and held
- Securities Investor Protection CorporationThe non-profit that provides investor protection for the clearing firms
Keep exploring
The entities involved
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Depository Trust & Clearing Corporation
company
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Securities Investor Protection Corporation
American financial non-profit
Related events
- DTCC launched a tokenization service on Canton, securing partnerships with major financial institutions including JPMorgan Chase, Bank of America, and Fidelity.
- DTCC, major banks including Citigroup, Wells Fargo, and Bank of America are participating in a shared initiative regarding tokenized deposits and assets.
- DTCC is launching a new collateral platform powered by Chainlink.