IDeAS
Also written Internet-based Demat Account Statement
Internet-based Demat Account Statement: NSDL's viewing facility, launched January 1, 2004, showing demat balances and transactions online, not real time, with a delay of at most 30 minutes.
In plain language
IDeAS, the Internet-based Demat Account Statement, lets an NSDL account holder check the account without waiting for a statement from the DP.
It is NSDL's facility for viewing balances and transactions in a demat account over the internet. NSDL launched it on January 1, 2004. The workbook is precise about timeliness: the data is updated on an online but not real-time basis, with a delay of at most 30 minutes.
IDeAS is view-only. You cannot submit a delivery instruction through it. Submitting instructions on the internet is the job of NSDL's separate facility, SPEED-e.
Over time IDeAS has been extended to show values as well as quantities, and clearing members can use it to track their pool accounts around pay-in dates.
How it works
From Chapter 5, section 5.3.1 (Internet-based depository operations of NSDL).
Access. A demat account holder or clearing member can use IDeAS either as a password user or as a smart card / e-token user.
What clients see.
| Feature | Detail |
|---|---|
| Update lag | Online, not real time, maximum 30 minutes |
| Transactions | Clients can select any period up to 30 days back from the current date |
| Mutual fund units (security type code 20) | Value based on NAV, with the NAV date |
| E-series ICINs of National Spot Exchange Limited | Value for the previous business date |
| NCDs, bonds, ETFs, unlisted equity etc. | Price or face value and an indicative value |
| Sovereign Gold Bonds | Price as of the previous date, and value |
What clearing members see. CMs can view and download the latest balances and transactions in their CM Pool accounts for the current pay-in date, the previous four and the next four pay-in dates. Chapter 8 lists IDeAS as one way a CM can find out which deliveries have come into its CM settlement account.
How it sits beside NSDL's other e-services.
| Facility | What it does |
|---|---|
| IDeAS (2004) | View balances and transactions |
| SPEED-e (September 2001) | Submit delivery instructions over the internet, for DPs who subscribe |
| SIMPLE | Lets password-based SPEED-e users submit client-to-CM pool transfers from mobile phones |
| NSDL Mobile App | View balances on a phone, free for all demat account holders |
The CDSL counterparts are easi (view) and easiest (view and transact).
A worked example
Illustrative investor and values.
Ritu, an NSDL account holder in Lucknow, logs in to IDeAS at 11:40 am on 12 August.
| Holding | Quantity | IDeAS basis | Value shown |
|---|---|---|---|
| Equity shares of a listed company | 150 | — | — |
| Mutual fund units (security type code 20) | 2,000 | NAV of Rs 48.20, with the NAV date | 2,000 x 48.20 = Rs 96,400 |
| Sovereign Gold Bond | 10 | Previous date price of Rs 7,100 | 10 x 7,100 = Rs 71,000 |
| NCD | 5 | Face value Rs 1,00,000; indicative value shown | Face value 5 x 1,00,000 = Rs 5,00,000 |
The time lag. Ritu's broker's delivery of 150 shares was credited at 11:25 am. Because IDeAS runs up to 30 minutes behind, the credit may not show until as late as 11:55 am. It is not a fault; it is how IDeAS is designed.
History. She wants a record of July transactions and selects 13 July to 12 August, which is the maximum 30-day window.
Selling. Ritu wants to sell 50 shares off-market. IDeAS cannot do it. She needs a DIS, or an instruction through SPEED-e if her DP has subscribed.
A clearing member using IDeAS on a pay-in date sees its CM Pool account for that day, the previous four and the next four pay-in dates: nine pay-in dates in all.
Why NISM asks about it
Chapter 5 (Functions of DP - Account operations, 3% weightage) covers IDeAS in 5.3.1 among NSDL's internet facilities, next to SPEED-e, SIMPLE, the mobile app and SMS alerts, and CDSL's easi and easiest. Chapter 8 (13%) mentions it as a way for clearing members to track deliveries received for pay-in. Expect "which facility lets NSDL clients view their holdings?", the 30-minute lag, the January 1, 2004 launch date, and matching NSDL facilities to CDSL ones.
Common exam traps
- View-only. IDeAS does not accept instructions; SPEED-e does.
- Not real time. Maximum delay 30 minutes. CDSL's easi is the one Chapter 8 describes as giving real-time information.
- NSDL, not CDSL. CDSL's equivalents are easi and easiest.
- Launched January 1, 2004. SPEED-e is older (September 2001).
- CM pool view: current pay-in date plus four before and four after.
- The workbook contradicts itself on the transaction window. One sentence in 5.3.1 says clients can view transactions from "the last five days". The next says they can now view the past 30 days. The 30-day figure is the current one.
- It also varies on who can use it. 5.3.1 first says IDeAS is for SPEED-e users, subscribing CMs and clients whose DPs are registered for IDeAS. It then says it is available to all clients, including CMs, of any NSDL participant.
Check yourself
1.IDeAS is a facility that allows a demat account holder to:
- a)Submit delivery instructions over the internet
- b)View balances and transactions in the demat account, updated online with a delay of maximum 30 minutes
- c)Pledge and unpledge securities online
- d)Open a demat account online
Show the answer
Answer: (b) View balances and transactions in the demat account, updated online with a delay of maximum 30 minutes
IDeAS is the facility for viewing balances and transactions in the demat account updated on an online basis with a delay of maximum 30 minutes.
NSDL has launched a facility called IDeAS from January 1, 2004 for investors to view balances and transactions in demat accounts updated on an online but not real time basis.
It views; it does not transact. That is the whole distinction from SPEED-e, and option A describes SPEED-e: SPEED-e enables demat account holders (including Clearing Members) to submit delivery instructions directly on the Internet.
What IDeAS shows: IDeAS enables Clients (Beneficial owners) to view the latest balances and transactions that have taken place in the last five days... Clients now are able to view the transactions for a period of past 30 days. Clients can select the period upto 30 days from the current date.
Who can use it: the users of SPEED-e, clearing members who have subscribed to IDeAS and to those clients whose DPs are registered for IDeAS, either as a Password or a Smart Card/e-Token User.
Enhancements display values for mutual fund units (security type code '20')... based on the NAVs, price/face value and indicative value... in respect of non-convertible debentures, bonds, ETFs, unlisted equity shares, and the price as of the previous date and value in respect of ISINs pertaining Sovereign Gold Bonds.
For clearing members: they can view and download latest balances and transactions executed in their CM Pool accounts in respect of settlements for the current pay-in date, previous four and next four pay-in dates.
The CDSL equivalent is easi — Electronic Access to Securities Information — whereby beneficial owner can view their demat account holding, download the transaction statements.
2.A Password User of SPEED-e can debit his demat account:
- a)In favour of any account
- b)Only in favour of specified Pre-Notified Clearing Member accounts, up to six
- c)Only in favour of accounts held with the same DP
- d)Not at all — password users can only view
Show the answer
Answer: (b) Only in favour of specified Pre-Notified Clearing Member accounts, up to six
Password Users can debit their demat accounts only in favour of specified Pre-Notified Clearing Member accounts (upto six), while Smart Card/e-Token User can submit instructions in favour of any number of accounts.
Option A describes the Smart Card/e-Token user. Option D confuses SPEED-e with IDeAS — SPEED-e is the instruction facility; IDeAS is the facility for viewing.
The credential also determines who may use it at all: a demat account holder will have the option of accessing SPEED-e either as a Password User or as a Smart Card/e-Token User. A Clearing Member must be a Smart Card/e-Token User to be able to access SPEED-e.
And one function is reserved for the stronger credential: as a smart card user, clients can also freeze or unfreeze their accounts by giving instructions through SPEED-e.
Both classes of user share some features: the launch of redemption of mutual fund units through SPEED-e facility... enable both type of users viz., password and e-Token users to give request to redeem the mutual fund units.
And password users have their own facility: SIMPLE, a facility that enables the password based users of SPEED-e facility to submit Client to Clearing Member Pool Account transfer instructions, on SPEED-e website through their mobile phones (enabled with GPRS).
Background: NSDL launched SPEED-e (pronounced as speedy) in September, 2001. Any DP of NSDL can subscribe to SPEED-e, the common infrastructure of NSDL. SPEED-e is available only to those DPs who have subscribed to it.
Where this is taught
Free preparation for NISM Series VIRelated terms
- Statement of AccountsThe registrar's proof of investment for a mutual fund folio, showing amount, price and units for each transaction and, from the second one, the balance units and their current value.
- Clearing member accountThe special demat account a broker or custodian opens to settle exchange trades, through which clients' sold shares go to the clearing corporation and bought shares arrive; also called the pool account.
- easiCDSL's internet facility for viewing a demat account — real-time holdings, instruction status, past transactions and daily portfolio valuation — with no ability to submit debit or credit instructions.
- easiestCDSL's internet facility (Electronic Access to Securities Information and Execution of Secured Transaction) through which BOs and CMs submit debits, credits, freezes, pledges and confiscations.
- Smart Card / e-Token UserThe hardware-authenticated way of accessing NSDL's SPEED-e facility, required for any Clearing Member and carrying no cap on the number of accounts an ordinary user can instruct.
- SPEED-eNSDL's internet-based facility, launched in September 2001, letting demat account holders and Clearing Members submit delivery instructions directly online instead of on paper.
- CDSLCentral Depository Services (India) Limited — one of India's two depositories, promoted by leading Indian banks and the Bombay Stock Exchange, registered in February 1999 and operational from 22 March 1999.