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.
Khalil Mohammad Naser
Chief Executive Officer
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
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. The SDC is 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 subject to the Jordan Securities Commission (JSC)'s monitoring and supervision.
The SDC’s governance structure consists of a seven member board of directors and a full time Chief Executive Officer. Four of the board members are elected by the general assembly of the SDC representing SDC members, whilst three of board members are being appointed by the JSC. 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. 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 includes International Security Identification Numbers (ISIN), Classification of Financial Instruments (CFI), and Financial Instrument Short Name (FISN). All securities registered at the SDC are numbered according to each code numbering scheme. 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. 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 DvP Settlement for block trades.
• Update the SDC’s electronic System to make it web-enabled.
• Dividends distribution on behalf of the Issuers.
•Implement a new Document Management System.
Federation of Euro-Asian Stock Exchanges
96
"Developing new services for investors such as SMS, and upgrading its electronic system (SCORPIO) to the latest version of Oracle technologies in order to keep up with the technological developments and overcome the challenges encountered by the system users".