CMC software to facilitate de-materialized securities trading

CMC Limited, a systems integration company, announced the commencement of live operations

of its C-DAS (Centralized Depository Accounting System) software by the Central Depository

Services Ltd (CDSIL). This application software, developed indigenously by CMC to meet the

requirements of Central Depository Services India Ltd, facilitates the setting up of

India's first indigenously developed modern, state of the art electronic central

securities depository at the CDSIL. The new software will enable the shift towards

paperless trading and will allow a large investor base to maintain their own private

accounts at the depository.

"The C-DAS software has been developed keeping in mind

CMC's focus on creating a product that would be suitable for securities depositories in

India and around the world. We are confident that the development of this software will

facilitate the shift towards paperless trading in India and provide increased security and

convenience to investors engaged in trading of securities. This will increase liquidity

and encourage investors in the primary and secondary markets which will help the economy

of the country," added CMC chairman and managing director S.S. Ghosh.

CMC's new C-DAS software was developed in less than one

year and is based on the TCFS, which can be customized to meet specific application needs

of the banking and financial sectors. The software architecture of the C-DAS program

places the database in a central location, which not only ensures complete security and

protection of data for investor holdings but also has a provision for disaster back-up.