FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT 2015
SECURITIES DEPOSITORY CENTER (SDC) OF JORDAN
In 26th May, 2015, the Securities Depository Center has connected to
the SWIFT and become a direct member in the RTGS-JO
Khalil Naser
Acting Chief Executive Officer
As part of Jordan’s vision towards establishing a
progressive economy and a dynamic investment
environment, the Securities Depository Center (SDC)
was established for the purpose of registering,
depositing, transferring ownership, safekeeping, and clearing and settlement of securities. The
SDC plays a vital role in supporting transparency
through an initiative known as “Data For All, Not
Just For Sale”, from this initiative the SDC provides
a lot of information that is updated in a timely, accurate such as board members’ names, holdings
and trades, major shareholders, financial figures and
statistical data.
General Information • E xecuting the transfers of all securities including
transfers of transactions excluded from trading,
and transfers of the ownership of non-traded
securities.
• Providing investors with many services including
identification in the SDC’s systems, account
set-up, statements of securities ownership, and
the ability to freeze the securities in the central
registry.
• Executing the corporate actions.
• Providing E-services: online account viewing,
electronic initial public offering (e-IPO), web
services for extracting statistical data and
members’ services including mailbox and
members’ area
• Allocating ISIN and CFI for all issued securities. Regulated by
The Securities Depository Center of Jordan is a
non-profit public utility institution established
in the Hashemite Kingdom of Jordan by virtue
of the Securities Law. The SDC commenced
operation in May 1999 and is the only entity in
Jordan that is legally empowered to oversee the
registration of securities, deposit of securities,
transfer of ownership, safekeeping of securities and
clearing and settlement of securities transactions.
Accordingly, the SDC built Securities Central
Operation Registry Processing and Information
Online (SCORPIO)® system in order to provide
various services to investors and its members.
Participants
Public shareholding companies, brokers, custodians,
and any other entity determine by the Board of
Commission of JSC.
Ownership
Registered under the name of beneficial owner
where all securities are dematerialized.
Services Provided
The SDC is providing the following services to the
participants and investors:
• Holding the ownership register of all issuers.
Memberships in International Organizations
• A
ssociation of National Numbering Agencies
(ANNA)
• Africa & Middle East Depositories Association
(AMEDA)
• Federation of Euro-Stock Exchanges (FEAS)
• Society for Worldwide Interbank Financial
Telecommunication (SWIFT)
International Cooperation
• A
ssociation of Global Custodian (AGC)
• Thomas Murray (TM)
Jordan Securities Commission
Settlement
Form: Book Entry
Cycle: T+2
Model: Settlement of trades on the delivery-
versus-payment (DVP) principle (Gross Settlements
of Securities Transfers is simultaneous with Net
Settlement of Funds Transfers)
Turnaround Trades
Allowed provided the same broker in the same
settlement cycle
Taxation
No capital gains tax, this includes cash & stock
dividends
Future Outlook 2015
The most prominent project that will be
implemented in 2015 is developing the SDC’s
clearing and settlement system, and the main goal
of this development is to minimize the counterparty
risk between brokers and custodians by making
the custodian a part of the settlement process. To
support the implementation of this project, the SDC
is in process of reviewing the related legislations
and developing the technological infrastructure.
ABOUT SECURITIES DEPOSITORY CENTER (SDC) OF JORDAN
Established: 1997
Chairman: Mr. “Moh’d Said” Ahmad Al-Hammami
Address: P.O. Box 212465, Amman 11121,
Jordan
Contact name: Khalil Naser
E: [email protected]
W: www.sdc.com.jo
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AFFILIATE MEMBERS