Securities Depository Center of Jordan
Future Outlook
In 2018 the EBRD will update its local capital markets development strategy, setting targets for years to come. Cooperation with capital market associations and other international partners will continue to be one of the strategic priorities.
In Europe, the EU Capital Markets Union initiative is expected to have a major positive impact on financial markets and broader economies in terms of enhanced access to finance and movement of money. The EBRD is supporting this initiative as implementer of several advisory projects as well as an investor in specific instruments such as equities and bonds.
Mr. Khalil Mohammad Naser
CEO of Securities Depository Center of Jordan
About Securities Depository Center of Jordan
Established: 1997 and commenced its operations in 1999
CEO: Mr. Khalil Mohammad Naser
Address: Capital Market Building, Al - Mansour
Bin Abi Amer Street, Al - Madina Al-Riyadiya
District, Al-Abdali Area
Email: [email protected]
Website: www.sdc.com.jo
General Information
The Securities Depository Center of Jordan (SDC) is a public utility institution established in the Hashemite Kingdom of Jordan by virtue of the Securities Law of 1997. The SDC commenced operations in May 1999 and it 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, noting that the SDC developed the settlement cycle to introduce the custodians to the settlement that allow them to settle the trades of their clients directly with the SDC on a delivery-versus-payment (DvP) basis. The SDC is subject to the Jordan Securities Commission (JSC)'s monitoring and supervision.
The SDC’s ability to performs its tasks, accomplish new projects, and meet market demand and new developments comes from the SDC’s electronic system, SCORPIO, “Securities Central Operation Registry Processing & Information Online (SCORPIO)®” an SDC-designed system that allows the SDC to undertake technical, strategic, and administrative initiatives to build and strengthen its infrastructure, implement and achieve its tasks and responsibilities.
Based on the SDC’s continuous seek to enhance transparency and disclosure, it provides a lot of information through its website in a timely, accurate and updated manner such as board members’ names, holdings and trades, major shareholders, financial figures and statistical data. The SDC also provides a variety of electronic services.
Participants
Membership is obligatory for the public shareholding companies, brokers, custodians and any other entity determine by the Board of Commission of JSC.
Services Provided
The SDC is providing the following services to the participants and investors:
• Holding the ownership register of all issuers.
• Executing the transfers of all securities including transfers of transactions excluded from trading, and transfers of the ownership of non-traded securities.
• Corporate actions processing.
• 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.
• 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, CFI, FISN for all issued securities as the SDC has been recognized by the Association of National Numbering Agencies (ANNA) and the JSC as the sole numbering agency in Jordan for the assignment of codes adopted by ANNA regarding the financial instrument
Memberships in International Organizations
• Federation of Euro-Stock Exchanges (FEAS).
• Africa & Middle East Depositories Association (AMEDA).
• Association of National Numbering Agencies (ANNA).
Settlement Form Book Entry
Settlement Cycle T+2
Settlement Model BIS Model 2
Future Outlook
The SDC vision is to be an internationally distinguished organization effectively contributes in enhancing safe and stable investment environment supporting national economy. Thus, in the coming years, the SDC plans to:
• Introduce value added services to the investors such as SMS services.
• Introduce DvP Settlement for block trades.
• Set the legal and technical framework to introduce the Depository receipts and Lending and Borrowing.
• Update the SDC’s electronic System to the latest version of Oracle Technologies and making it web-enabled.
• Implement the plans included in the Capital Market Development Report made by the (EBRD) related to the SDC assignments.
• Implement the plans included in the Capital Market Development Report made by the (EBRD) related to the SDC assignments.
Federation of Euro-Asian Stock Exchanges
In 2018, the SDC developed the “e-portfolio” service to enable the investor in public shareholding companies to have permanent and continuous access to their portfolios of Jordanian securities. This service can be accessed electronically through the SDC’s website www.sdc.com.jo, where the investor can view the following:
• The investor's information and personal data.
• Securities’ accounts maintained with brokers and custodians.
• The investor's balances of securities which is updated daily.
• Statements of securities’ accounts showing all transactions executed on the investor’s securities accounts, including purchases, sales, capital increase or decrease, etc.
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