NSCCL - The National Securities Clearing Corporation Ltd.

(NSCCL), a wholly owned subsidiary of NSE, was incorporated in August 1995. It was the first clearing corporation to be established in the country and also the first clearing corporation in the country to introduce settlement guarantee. It was set up with the following objectives: to bring and sustain confidence in clearing and settlement of securities; to promote and maintain, short and consistent settlement cycles; to provide counter-party risk guarantee, and to operate a tight risk containment system.

Central Depository Services Limited (CDSL) is the second Indian central securities depository based in Mumbai.[3] Its main function is the holding securities either in certificated or uncertificated (dematerialized) form, to enable book entry transfer of securities. CDSL was promoted by BSE Ltd. jointly with leading banks such as State Bank of India, Bank of India, Bank of Baroda, HDFC Bank, Standard Chartered Bank and Union Bank of India. CDSL was set up with the objective of providing convenient, dependable and secure depository services at affordable cost to all market participants National Securities Depository Limited (NSDL) in an Indian central securities depository based in Mumbai. It was established in 1995 as the first electronic securities depository in India with national coverage based on a suggestion by a national institution responsible for the economic development of India .It has established a national infrastructure using international standards that handles most of the securities held and settled indematerialised form in the Indian capital market. NSDL is promoted by Industrial Development Bank of India (IDBI) - the largest development bank of India, Unit Trust of India (UTI) - the largest mutual fund in India and National Stock Exchange (NSE) - the largest stock exchange in India. Some of the prominent banks in the country have taken a stake in NSDL. The Fixed Income Money Market and Derivatives Association of India (FIMMDA), an association of Scheduled Commercial Banks, Public Financial Institutions, Primary Dealers and Insurance Companies was incorporated as a Company under section 25 of the Companies Act,1956 on June 3rd, 1998. FIMMDA is a voluntary market body for the bond, money and derivatives markets.FIMMDA has members representing all major institutional segments of the market.FIMMDA membership is open to scheduled commercial banks, financial institutions, primary dealers and insurance companies.The FIMMDA membership fee is Rs. 200000 /- annually with a onetime registration fee of Rs. 200000 /Role of FIMMDA Functions as the principal interface with Regulators (like Reserve Bank of India, Securities Exchange Board of India, Ministry of Finance - Government of India) Suggests Legal and Regulatory framework for the development of new products Training and Development Support to the Debt & Derivatives Market Standardisation of market practices