Indian authorities set STP goals

A delegation of Indian regulators visited Hong Kong last week to spread the word about straight through processing in India. They claim that a new secure messaging system launched on December 2 is the first step towards shortening India's settlement cycle to T+1. A goal that they plan to achieve by 2004. FinanceAsia spoke to the chairman of the Securities and Exchange Board of India (SEBI), GN Bajpai, and the managing director and CEO of the National Securities Depository Limited (NSDL), CB Bhave.