Download - FEAS

More documents

Recommendations

Info

FEDERATION OF EURO-ASIAN STOCK EXCHANGES SEMI ANNUAL REPORT OCTOBER 2006 AFFILIATE MEMBER PROFILES Central Depository Company of Pakistan Limited 147 Central Registry Agency Inc. 148 Misr For Clearing, Settlement & Central Depository 149 Securities Depository Center (SDC) of Jordan 150 Takasbank - ISE Settlement and Custody Bank, Inc. 151 Tehran Stock Exchange Services Company (TSESC) 152 PAGE 148
FEDERATION OF EURO-ASIAN STOCK EXCHANGES SEMI ANNUAL REPORT OCTOBER 2006 CDC CENTRAL DEPOSITORY COMPANY OF PAKISTAN LIMITED AFFILIATE MEMBER M. Hanif Jakhura CEO Since commencement of its operations in 1997, The Central Depository Company of Pakistan Limited (CDC) has achieved an indispensable position in the capital market of Pakistan by providing concrete benefits to its clients in terms of efficiency, security, reliability and cost effectiveness. The government of Pakistan’s aggressive privatization policy deployed through The Central Depository Company of Pakistan Limited (CDC) has achieved an indispensable position in the capital market of Pakistan by providing concrete benefits to its clients in terms of efficiency, security, reliability and cost effectiveness. exchanges, capital reforms undertaken by the Securities and Exchange Commission of Pakistan and the continued reliable services of the CDC have resulted in the market boom with a record increase in the Karachi Stock Exchange (KSE) index by almost 56.50% since June 2004 and the market capitalization has surged to US$ 38.62 billion as of February 28, 2005. Role of the Depository CDC is the country’s sole depository for equities, corporate debt and bonds. It provides settlement and depository services to all three stock exchanges of the country (Karachi, Lahore and Islamabad), financial institutions and qualified private investors. The CDC was incorporated on January 21, 1993 as a public limited company and began live operations on September 3, 1997. The Company was established under the Central Depositories Act in 1997 with the scope to manage and operate the Central Depository System (CDS), an electronic book-entry system. The Company is sponsored by all the three stock exchanges of Pakistan as well as national and multinational institutions. The CDC is regulated by the Securities and Exchange Commission of Pakistan. It is market practice to use CDS for custody and compulsory to use it for settlement of securities live on CDS. The Company also manages the operations of the National Clearing and Settlement System (NCSS) on behalf of the National Clearing Company Pakistan Limited (NCCPL). The CDC started providing Investor Account Services (IAS) to retail investors, both individual and corporate in 1999. The CDC has also started Trustee and Custodial Services for closed-end and open-end mutual funds in the year 2002. Participation Criteria Participants/Account Holders Members of stock exchanges, banks, DFIs, corporate bodies and qualified private investors are eligible to become participant/account holder of CDC. Eligible Pledgee Financing institutions may join CDC as eligible pledge. Issuers All issuers of listed securities must join CDC in the capacity of an Issuer. Size of Guarantee Fund CDC does not operate a guarantee fund. Does the CSD act as a central counter party No Memberships in other International Organizations Association of National Numbering Agency (ANNA), International Securities Services Association (ISSA), Asia-Pacific Central Securities Depositories Group (ACG) Legal Status Public Limited Company (Unlisted) Type of Commercial Entity For-profit company Regulated by Securities and Exchange Commission of Pakistan CONTACT INFORMATION Contact Name Mr. Aftab Ahmed Diwan E-mail diwan@cyber.net.pk Website www.cdcpakistan.com * Please refer to page 86 for the Pakistan country report. PAGE 149
Page 1 and 2:
FEDERATION OF EURO-ASIAN STOCK EXCH
Page 3:
Page 6 and 7:
Page 8 and 9:
Page 10:
Page 14 and 15:
Page 18 and 19:
Page 20:
Page 23:
SEMI ANNUAL REPORT OCTOBER 2006 app
Page 27:
Page 30 and 31:
Page 32 and 33:
Page 34 and 35:
Page 36 and 37:
Page 38 and 39:
Page 40 and 41:
Page 42 and 43:
Page 44 and 45:
Page 46 and 47:
Page 48 and 49:
Page 50 and 51:
Page 52 and 53:
Page 54 and 55:
Page 56 and 57:
Page 58 and 59:
Page 60 and 61:
Page 62 and 63:
Page 64 and 65:
Page 66 and 67:
Page 68 and 69:
Page 70 and 71:
Page 72 and 73:
Page 74 and 75:
Page 76 and 77:
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
Page 98 and 99:
Page 100 and 101: FEDERATION OF EURO-ASIAN STOCK EXCH
Page 128: FEDERATION OF EURO-ASIAN STOCK EXCH
Page 149: FEDERATION OF EURO-ASIAN STOCK EXCH
show all

Download - FEAS

Create successful ePaper yourself

Delete template?

Save as template?