FEAS Yearbook FEAS Yearbook 2018 | Page 85

Organization Overview

Founded in 2005 as a public joint stock company, Central Securities Depository of Iran (CSDI) is the sole registry entity and custodian in the Iranian capital market using the hybrid registry system with a fully dematerialized book entry system. Enjoying a history of 50 years, the Iranian capital market was demutualized in 2005 and as a result, CSDI was legally segregated from the rest of the capital market and commenced to work as an independent and separate entity. It is the central registrar and clearing house for all the exchanges in Iran including Tehran Stock Exchange (TSE), Iran Farabourse (IFB), Iran Mercantile Exchange (IME), and Iran Energy Exchange (IEE). It takes over the registry, clearing, and settlement issues related to equity, Islamic securities (Sukuk), derivatives, energy contracts, electricity, mercantile products by means of a full-fashioned registry system and multi-currency (USD, IRR, Euro) with a high netting efficiency of 85 percent. The prospects of CSDI are to prepare the infrastructures indispensible for the efficiency, continuity, and growth of the economy of the markets under its cover.

Membership in International Organizations

- Federation of Euro-Asian Stock Exchanges (FEAS),

- World Forum of CSDs (WFC),

- Asia-Pacific CSD Group (ACG),

- Interexchange Electronic Union (IEU),

- The Organization of the Islamic Cooperation Member States' Stock Exchanges Forum,

- Asia Fund Standardization Forum (AFSF),

- Chief Information Security Officer (CISO)

Regulatory body

Securities and Exchange Organization of Iran (SEO)

Ownership

The capital of the CSDI is made up of 1.5 Billion shares. The share of the CSDI mostly belongs to the Iran's Capital Market Entities, Banks, Investment Groups, Financial Groups, Brokers, and pension Funds.

All assets are being Registered under the name of beneficial owner, so the legal ownership belongs to final beneficiary

Settlement

There are four Exchanges in Iran, two stock exchanges i.e. Tehran Stock Exchange and Iran Fara Bourse (OTC), and two commodity exchanges i.e. Iran Mercantile Exchange and Iran Energy Exchange.

The wide range of goods and financial instruments are traded in these four exchanges and CSDI provides all pre- and post-trade services including clearing and settlement for them all.

The current settlement method performed by CSDI is DVP2 which is in process to be developed into DVP3 by the end of the current Iranian fiscal year (21 March, 2020).

Established: 2005

CEO: Mr. Hossein Fahimi

Address: #13,Naderi Street, Italy Intersection,

Keshavarz Boulevard; Tehran, Iran;

1416643168

Contact Name: Mr. Siavash Azimi

Email: [email protected]

Website: en.csdiran.com/

Yearbook 2018

About Central Securities Depository of Iran

CSDI Accomplishments in 2018:

- Adopting T+2 settlement cycle for securities transactions aimed to reduce operational and systemic risks

- CSDI considered Credit Limit for brokers nationwide for better risk management

- CSDI designed, and implemented the novel e-KYC Comprehensive Information Gathering System (CIGS)

- Federation of Euro–Asian Stock Exchanges (FEAS) voted for CSDI to maintain executive board seat

- Asia-Pacific CSD Group (ACG) elected and endorsed the CSDI chief for vice-chair

- CSDI developed its strategic action plan

The capital of the CSDI is made up of 500 million shares.

Settlement Cycle

Click here to read about CSDI accomplishments in 2017 and most prominent E-services.

Mr. Hossein Fahimi

CEO and Board Member

Central Securities Depository of Iran

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