Persona: Product Manager

You’re scoping a new broking product, planning a re-platform, or trying to understand which regulatory change is going to eat the next two quarters of your roadmap. You don’t need to know how to write a margin computation; you need to know what’s possible, what it costs in time and capital, who you’re integrating with, and what will change next year that you need to design for now.

This page is your shortcut through the site.

What you’ll find useful here

The site has three layers that matter to a PM:

• Breadth-first reference — what exists in the domain (884 circulars, 233 vendors, 400 compliance obligations, 1,314 field-destination flows).
• Depth-first narrative — what actually happens in operations (the trading day, the lifecycle of a client, the dependency graph of integrations).
• Operator walkthroughs — what your team will actually do, day-to-day, when this product is in production.

You’ll lean heaviest on the depth and operator layers. The breadth-first reference is where you go when a specific question comes up.

Suggested reading path (in this order)

1. Broker Process Narrative — 8.2K words walking through ACTIVE-to-closure operations chronologically. Start here. By the time you’re done, you’ll have the working mental model.

2. Flow Summary — short complement to the narrative; covers the onboarding pipeline (the 9 customer screens + maker-checker + 8 batch pipelines).

3. Vendor Atlas — 233 real products across 22 categories. Skim by category; come back to the categories that matter for your build (OMS / RMS / back-office are the big ones; KYC verification / eSign / AA are the per-onboarding-cost drivers).

4. Lifecycle Overview — the six post-onboarding scenarios (re-KYC, modifications, dormancy, closure, transmission, NRI conversion). These shape your support cost and your edge-case backlog. Read the Modifications page in full — the KRA → CKYC → UCC → BO ordering rule is the single most common bug class.

5. Compliance Blueprint — skim the domain headers. You won’t memorize 400 rows but you’ll know what kinds of obligations exist. Come back to specific domains when your roadmap intersects them.

6. Integration DAG Overview — gives you the dependency structure of all the integrations. Useful for stage-gate planning (“when can we cut over from old back-office to new”).

7. Regulatory Circulars master — skim the highlight panel of 12 most-impactful circulars. Bookmark; this is where regulatory changes are tracked.

That’s the foundation. Once you have it, the rest of the site is searchable.

Tip

Time investment. The above path is ~3–4 hours of reading. That’s the cost of being able to ask informed questions of your operations team, your compliance officer, and your vendor list — which is otherwise expensive to develop by absorbing meeting transcripts over six months.

Common questions in your role

• How much does a single client onboarding cost in API/vendor fees? → Cost Analysis (₹85–175 per client per the recommended stack).
• How long from a client tapping “Sign up” to first trade? → Flow Summary (24–72 hours, gated by NSDL BO opening).
• What changes next year I need to plan for now? → Circulars Changelog — recent and upcoming regulatory changes.
• Build vs buy: should we build our own back-office? → Vendor Atlas — Back-office category plus BCP/DR Drill (vendor concentration risk).
• What’s the cost of MTF as a feature? → MTF Operational deep-dive plus BMC/ABC (additional capital).
• What’s blocking the T+0 settlement rollout for our clients? → T+0 / T+1 deep-dive — broker readiness checklist included.
• What’s the worst-case operational failure I should design against? → Member Default Recovery and Payin Default + Core SGF.
• How big is the compliance team I need? → Compliance Blueprint — count obligations by frequency × owner role; the result is a rough team-size sanity check.

What to skip (and why)

• The 13 per-issuer circular sub-pages (reference/circulars/<issuer>/) — these are reference lookup, not learning material. You’ll come back to them only when a specific circular comes up.
• Field-level Data Flow Atlas detail pages (reference/field-atlas/sections/*, reference/field-atlas/destinations/*) — these are integration-engineer reference. You don’t need them.
• Most of the Deep Dives technical pages (especially deep-dives/trading-day/rms-span-methodology/, deep-dives/foundational/segment-rules-comparison/) — engineering reference; not your reading.
• appendix/* — edge cases (NRI deep-dive, minor / joint, non-individual entities). Read these only when a specific cohort comes up in product scoping.

When you’d hand off

A PM doesn’t operate the broker — they design the product around it. Once you’ve read the foundation, you’ll be handing off:

• Detailed integration questions → Backend Engineer reading path.
• Detailed compliance questions → Compliance Officer reading path.
• Capital / cost questions → Finance / CFO reading path.
• Day-to-day operational concerns → Operations Lead reading path.

Verified through

2026-05-14

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AI-generated and not legal, financial, or compliance advice. See the project README for full disclaimer.