Glossarytaught in M0.02
Depository
Also called depositories, depository participant.
An institution that holds securities in electronic form. India has two, and every dematerialised share sits in one of them.
Investors don't deal with a depository directly. They open an account through a participant, which is usually a broker or a bank, and the participant maintains the account on the depository's system.
Issued by the depository, the consolidated account statement is the independent record of holdings, separate from whatever a broker's application displays.
Reconcile the two occasionally. They are different systems.