FEDERATION OF EURO-ASIAN STOCK EXCHANGES
SEMI ANNUAL REPORT OCTOBER 2006
SECURITIES DEPOSITORY CENTER (SDC) OF JORDAN
Samir Jaradat
Chief Executive Officer
The Securities Depository Center (SDC) has
made a qualitative leap in the Jordan Capital
Market by establishing a national center for
registry, depository and clearing and
settlement of securities. The SDC is an
integral part of a transparent, viable, fair, and
Role of the Depository
The SDC is a 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.
The SDC is one of the most important
institutions in Jordan’s capital market as it
holds the ownership register of all public
shareholding companies. As a key
component in the modernization of the
capital market, the SDC implemented a
delivery-versus-payment (DVP) settlement
protocol. DVP, a globally recommended
settlement methodology that ensures the
simultaneous delivery of securities against
final payment of funds. Financial settlements
are currently conducted via the Central Bank
of Jordan’s Real Time Gross Settlement
System.
The SDC also developed the “Securities
Central Operation Registry Processing
Information Online (SCORPIO)” system.
AFFILIATE MEMBER
The SDC is an integral part of a transparent,
viable, fair, and efficient equities market in
Jordan that has inspired domestic and
international investor confidence and
contributed to the wealth of the nation.
efficient equities market in Jordan that has
inspired domestic and international investor
confidence and contributed to the wealth of
the nation. The SDC has implemented state-
of-the-art technology to perform its
responsibilities.
SCORPIO, an SDC-designed and
implemented system, is bilingual and it
provides a complete solution for the
registration, deposit and clearing and
settlement. Does the SDC act as a central
counter party
The SDC offers different services to
investors in securities including pledging
services, providing investors with statements
of their securities balances that show the
securities owned by them and their
distributions among members; in addition to
providing investors with the ability to freeze
their securities in the central registry. The International Organization of
Securities Commissions (IOSCO)
Association of National Numbering
Agencies (ANNA)
Africa & Middle East Depositories
Association (AMEDA)
Federation of Euro-Stock Exchanges (FEAS)
Union of Arab Stock Exchanges
Participation Criteria Legal Status
The SDC's membership is composed of
public shareholding companies, public
issuers, brokers and custodians Public utility institution
Eligible Pledgee
No
Memberships in other
International Organizations
Type of Commercial Entity
Not for profit
Pledgees are not considered members
in that capacity Regulated by
Issuers Form of Securities
Membership is obligatory for public
shareholding companies by virtue of the
Securities Law. Dematerialized
Size of Guarantee Fund
Jordan Securities Commission
Form of Settlement
Book Entry
JD 29,468,000, US$ 41,844,560
CONTACT INFORMATION
Contact Name Mr. Samir Jaradat E-mail [email protected] Website www.sdc.com.jo
Address The Securities Depository Center (SDC) 2nd Floor -Capital Market Building, Al-Mansour Bin Abi Amer Street
Al-Abdali Area, Al-Madina Al-Riyadiya District, Amman, The Hashemite Kingdom of Jordan
P.O.B. (212465) Amman 11121 Jordan
* Please refer to page 36 for the Jordan country report.
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