Straight Through Processing (STP)

Practical is a part of the STP initiative with effect from December 02, 2002. It has signed up with a service provider and has enabled end to end connectivity between participants in the trade cycle such as fund houses, custodians and clients. Practical has gone live for STP based settlement cycle.

Clearing Corporation

Practical is a Member of National Clearing Limited (NCL), a corporation formed for clearing and settlement for trades executed on the NSEIL. NCL guarantees financial and electronic settlement of trades on NSEIL since it is the Counter Party to every transaction done by a Broker on behalf of his client or on his own account. This virtually eliminates counter party risk. NCL also has a settlement guarantee fund with a substantial corpus.

Almost all major Custodians are Members of the NCL and settle trades on behalf of their domestic and foreign institutional clients directly with the NCL. This eliminates the risk perception associated with Brokers handling the Clients funds/securities.

Details of Client Bank Accounts

Investors are requested to note that Practical Financial Services Pvt. Ltd. is permitted to receive/pay money from /to investor through designated bank accounts only named as client bank accounts. Practical Financial Services Pvt. Ltd. is also required to disclose these client bank accounts to the Stock Exchanges.

Hence you are requested to use following client bank accounts only for the purpose of dealings in your trading account with us. The details of these client bank accounts are also displayed by Stock Exchanges on their website under & Know/Locate your Stock Broker.

Capital Market Segment – Client Bank Account – NSE & BSE

Name of Bank: HDFC Bank Ltd
Name of Bank Account: Practical Financial Services Pvt Ltd-USCNBA
Type of Bank Account: Up Streaming Client Nodal Bank Account
Bank Account Number: 00010340002053
IFSC : HDFC0000001

Name of Bank: HDFC Bank Ltd
Name of Bank Account: Practical Financial Services Pvt Ltd-DSCNBA Type of Bank Account: Down
Streaming Client Nodal Bank Account
Bank Account Number: 57500001309425
IFSC : HDFC0000060

Name of Bank: HDFC Bank Ltd
Name of Bank Account: Practical Financial Services Pvt Ltd-USCNBA
Type of Bank Account: Up Streaming Client Nodal Bank Account
Bank Account Number: 15770340008096
IFSC : HDFC0000060

Note to Investors

Investors are requested to note that Practical Financial Services Pvt. Ltd. (PFSPL) is permitted to receive money from investor through designated bank accounts only named as Up streaming Client Nodal Bank Account (USCNBA). PFSPL is also required to disclose these USCN accounts to Stock
Exchange. Hence you are requested to use the above mentioned USBA accounts only for the purpose of dealings in your trading account with us. The details of these USCN accounts are also displayed by Stock Exchanges on their website under & Know / Locate your Stock Broker.

Paperless Trading

National Securities Depository Ltd. (NSDL) is a DEPOSITORY promoted to facilitate trading and settlement of securities in dematerialised form in the equity and debt market. Thus, all trades done by all classes of investors (institutional and retail, both domestic and foreign,) are settled electronically and in paperless form.