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A trading allowed in shares where a future price is quoted for the shares and the payment and delivery takes place on the pre-determined dates.
Started in 1996 under which stocks are converted into ‘paperless form’ (dematerialisation of shares shortly known as the ‘demat’). At present, two public sector depositaries (Mumbai) are functioning in India set up under the Depositories Act, 1996—
(i) NSDL (National Securities Depositories Ltd.)
(ii) CDSL (Central Depositories Services Ltd.)