Post by steffanmiller on Sept 23, 2010 2:38:43 GMT -5
The purpose of the new oil commodities trading platforms is to help the investors to be in touch with advanced security features, which the regulatory authority has made mandatory and which has been built into the new system. Literally speaking, the new system is a class apart from the previous platform due to the availability of scores of advanced features.
One prominent aspect of the new system that stands apart is the opportunity for reconciliation of account balances between the depository participant and the regulatory authority. A depository participant is expected to undertake the reconciliation of records in the depository participant system on a daily basis in the following manner:
1. Through internal reconciliation of each of the accounts through the DPM (Depository Participant Module)
2. Through reconciliation of the total balances held in different accounts in the DPM with its balance held in the DM (depository module) at the regulatory authority's portal
While in earlier times updating of records was done manually, in recent times at the end of a busy working day, at the click of a button the entire details of the transactions undertaken are available. At the end of each day, the depository participant provides the details of the changes made in the accounts of the client from the last end-of-day (EOD) processing to the regulatory authority. The modern software systems have made it so easy and it is now possible to generate weekly, monthly and even annual reports with ease.
The modern software platforms have made things easy for the regulatory authorities to some extent. It is now possible to provide authentic information to the new investors from the information collected during any trading day. In addition, for corporate action or any other type of action specified by the regulatory authority, the details of the investor (name, address, holding details etc) can be easily gleaned from the database.
One prominent aspect of the new system that stands apart is the opportunity for reconciliation of account balances between the depository participant and the regulatory authority. A depository participant is expected to undertake the reconciliation of records in the depository participant system on a daily basis in the following manner:
1. Through internal reconciliation of each of the accounts through the DPM (Depository Participant Module)
2. Through reconciliation of the total balances held in different accounts in the DPM with its balance held in the DM (depository module) at the regulatory authority's portal
While in earlier times updating of records was done manually, in recent times at the end of a busy working day, at the click of a button the entire details of the transactions undertaken are available. At the end of each day, the depository participant provides the details of the changes made in the accounts of the client from the last end-of-day (EOD) processing to the regulatory authority. The modern software systems have made it so easy and it is now possible to generate weekly, monthly and even annual reports with ease.
The modern software platforms have made things easy for the regulatory authorities to some extent. It is now possible to provide authentic information to the new investors from the information collected during any trading day. In addition, for corporate action or any other type of action specified by the regulatory authority, the details of the investor (name, address, holding details etc) can be easily gleaned from the database.