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Upstox launches electronic delivery instruction slip facility

Thursday, July 12, 2018

Upstox (formerly RKSV Securities), the online discount brokerage firm funded by Ratan Tata, Kalaari Capital and GVK Davix, has become the first broker to implement an electronic delivery instruction slip (e-DIS) facility which will enable clients to complete paperwork online while opening an account.

The e-DIS facility is applicable only for delivery trades and not intraday orders. The clients can sell up to Rs 20 lakh of shares per day using e-DIS. The facility is currently available only on the Upstox web, Android, iOS platform.

E-DIS facility will enable the clients to trade on the go thus ensuring increased accessibility and enhanced client experience. Elaborating on the advantages of e-DIS Ravi Kumar, Co-Founder and Chief Executive Officer (CEO) of Upstox said “With the e-DIS technology, we hope to scale up and reach more and more people who can invest in various financial instruments and book their profits without having to even courier a single piece of paper! We hope to see about 2X growth in our performance overall in light of the recent updates to our customer on-boarding processes. “

As the trading process is becoming completely electronic, security breach is a major concern for both brokers and clients. In order to ensure complete safety and seamless transaction experience, Upstox has added an additional layer of security through an OTP-based authentication process.

Shrini Viswanath, Co-Founder and Chief Technology Officer (CTO) of Upstox, assures, “We have ensured that e-DIS is completely secure through an OTP-based authentication process. Clients can sell their holdings with their brokers with an OTP confirmation that's just as valid and legal as
the DIS.”

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