Description: The research paper talks about Network Custody System. Gone are the days when there was a custodian taking care of your belongings and held answerability and authority and accountability. The research paper says that in this world of expanding virtual business transaction it becomes very necessary to have tailor-made security measures. Unique identification techniques and access control measures have to be there and in case of their existence already have to be fortified in such a way as to facilitate smooth transactions.
The research paper CSE Seminar 2012 on NETWORK CUSTODY SYSTEM suggests that recent trends in market practices require custodians to service clients across global markets. Cross-border trading becomes the order as investment spreads across the globe and grows at astronomical rates. This in turn has led to increase in trade volumes. Custodians also need to adapt to the ever-changing needs of local and foreign-investors and also meet increasing statutory obligations.
With so many demands being made, custodians are relying heavily on technology in a bid to remain in the race. However, technology solutions can help only when custodians know exactly what they want from them. Client services like status information; trade settlement information and client reporting are top priority. Solutions that anticipate client needs and help provide services with least delay and pains are a boon.
The research paper suggests that custodians looking for technology solutions are not merely looking for automation of processes. Maintaining a network of custodian- sub-custodian- Investment manager- client, being first with information and services, availing real time message processing and update of transactions, as well as workflow management, are some of the capabilities that interest them.
Conclusion: The research paper suggests that the Network Custody System (NCS) was initially launched both in scripted and non-scripted medium. NCS requires high level of automation in a range of custodial activities such as trade settlement, corporate action administration, registration of securities, billing etc.
Download CSE Seminar 2012 on Network Custody System.
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