Chennai, Feb 22 (UNI) Geojit Financial Services Limited and India Infoline Limited will use Odyssey's SDS Enterprise to comply with the Securities Exchange Board of India (SEBI) regulations.
SDS Enterprise digitally signed and encrypted their large volume of Electronic Contract Notes (ECNs). SDS's product design enabled the processing of a large number of ECNs in a short period of time and distributed them through multiple channels, a release here said today.
Stock brokers had progressed to use e-mail as a medium to distribute ECNs, which were simple but required closer inspection in the context of security. Recognising the risks involved, SEBI, the regulatory body of the secondary market issued guidelines to stock broking firms to use digital signature technology to secure the ECNs sent to its investors.
SDS secured ECN distribution in stock broking firms and fulfilled compliance requirements. It worked non-invasively with the back office stock broking applications. SDS added risk protection to e-mail seamlessly by adding authenticity, assurance and privacy.
It empowered Geojit and India Infoline to send ECNs that were digitally signed, encrypted, tamper evident and compliant with Indian IT act of 2000.
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