Stock Holding Corporation of India - Benchmarking of Business Processes

Team INCLUSION
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BSE-Skoch recognised Stock Holding Corporation of India Ltd (StockHolding) as India’s best Custodian for year 2016. Subsequently, the internationally acclaimed Global Custodian recognised StockHolding as India “Market Outperformer” as well as “Category Outperformer” for the Domestic Custody Services for 2016, ahead of other Custodians in India. Besides StockHolding was also recognised for the third year in succession by NSDL for having the largest Asset under Custody and Highest number of active Depository accounts, for 2016.

StockHolding pioneered Custodial services and for last 29 years is India’s largest custodian by assets and volumes. It is the only custodian to provide doorstep services through its 189 pan India offices. With Asset under Custody of approx. $484 billion (approx. Rs.30 lakh crore) of which, $190 Billion is institutional assets, StockHolding accounts for over 23 per cent of the total market share. StockHolding’s diverse products have successfully addressed the aspirations of an equally diverse set of investors/ clients who appear in the top quadrant of their respective segment in terms of assets/investments managed by them.

StockHolding continues to be a thought leader with the fastest response time to regulatory changes and implementing best practices. StockHolding is the only non-bank custodian to offer most diverse, innovative and flexible solutions for Foreign Portfolio Investors (FPIs) including services for Government debt.

For FPIs StockHolding is the only custodian to offer a unique banking solution as well as ease-in-onboarding solution. During the year StockHolding also successfully transitioned Institutional clients from other leading Custodians without any impact to clients. StockHolding in 2016 also tied up with a leading Global Custodian to offer its clients Securities Services in overseas markets.

Strategy

StockHolding besides pioneering custodial services in India has been in the forefront of advocating better practices, engaging with Regulators and Self-Regulatory Organisation (SROs), actively participating in industry initiatives, interacting with clients locally and globally that led to development of capital market infrastructure in India. Its multi-level strategy included:

Providing full range of integrated services:
– Broad asset class coverage including equities, debt, derivatives, Government securities, mutual funds and gold.
– Automated settlements and cash management.
– Customised value added service like Fund Administration, Valuation, Aid Compliance Monitoring and Analytics.
– Facilitate settlement of securities across international jurisdictions.

Single integrated technology platform:
– Providing flexible online real-time reporting.
– In-house technology providing 24x7 supports to facilitate faster customisation and turnaround.

Customised client service module that enable:
– Flexible service module.
– Dedicated relationship management and client service teams.

Strong risk management and controls that imbibe:
– Global best practices.
– Comprehensive risk assessment.
– Regular internal audit reviews.
– Comprehensive Business Continuity Plan.

Since inception, StockHolding has been a market leader in using technology and automating critical processes to process large volumes. Some of the key aspects of its technology process are:
– Proprietary end-to-end inhouse domain IT development capabilities.
– Data security and Client confidentiality maintained.
– Continuous development on regulatory related aspects together with operational aspects ensuring fastest turnaround.
– Quicker Turn Around Time (TAT).
– Clients are able to access account information online.

Benefits

It has been able to offer comprehensive business solutions adapt in handling high volume time critical transactions within a secured environment while saving on process time, enhancing controls and improving productivity.

Clients are kept abreast of the developments by a dedicated client service team supported by StockHolding’s communique ‘Market Se’ carrying impact analysis. StockHolding’s Country profile provides a deep insight of the capital market developments.

The integration of FPI platform in its existing custodial business was done in a shortest possible time frame.

The FPI related initiatives have added visibility amongst strategic partners, prospective FPIs, Regulators and Government of India while encouraging inflows and flight of Assets from other providers.

(Comments are welcome at info@skoch.in)

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