Is HDFC Securities NSDL or CDSL? There are two major depositories in India : NSDL and CDSL. All the depository participants have to get registered to either one of them to ensure legal and regulated functionality.
HDFC Securities is registered with both NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Ltd.)
There DP ID of both the depositories are as follows.
NSDL-IN304279
CDSL– 2086700
Usually if the DP is registered with NSDL, it allows a trader to trade with the National Stock Exchange (NSE) and if the DP is registered with CDSL, you can trade with BSE (Bombay Stock Exchange). Since, HDFC Securities is registered with both the depositories, it gives you a chance to trade with both the exchanges.
Further, you can avail the services of EASIEST (By CDSL) and speed-e (by NSDL). These services offer easy transfer of shares from one demat to another.
The depositories make sure that all the services are regulated and there are no fraudulent activities. It has increased the safety of demat account and hence your shares as well. When a stockbroker is registered with a depository participant, it increases the credibility and trust as well.
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