NSE along with leading financial institutions established the National Securities Depository Ltd. (NSDL), the first depository in the country, with the objective to reduce the menace of fake/forged and stolen securities and thereby enhance the efficiency of the settlement systems. This has ushered in an era of dematerialized trading and settlement.
SEBI, too, has been progressively promoting dematerialisation by mandating settlement only through dematerialized form for more and more securities. The share of demat delivery in total delivery at NSE was 100% in terms of value during 2008-09.