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FEDERATION OF EURO-ASIAN STOCK EXCHANGES SEMI ANNUAL REPORT OCTOBER 2005
SECURITIES DEPOSITORY CENTER (SDC) OF JORDAN AFFILIATE MEMBER
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 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
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.
CONTACT INFORMATION
PAGE 42
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 stateof-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.
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.
Participation Criteria
The SDC's membership is composed of
public shareholding companies, public
issuers, brokers and custodians
Eligible Pledgee
Pledgees are not considered members
in that capacity
Issuers
Membership is obligatory for public
shareholding companies by virtue of the
Securities Law.
Size of Guarantee Fund
JD 29,468,000, US$ 41,844,560
Does the SDC act as a central
counter party
No
Memberships in other
International Organizations
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
Legal Status
Public utility institution
Type of Commercial Entity
Not for profit
Regulated by
Jordan Securities Commission
Form of Securities
Dematerialized
Form of Settlement
Book Entry
Contact Name Mr. Samir Jaradat E-mail ceo@sdc.com.jo 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.Box. (212465) Amman 11121 Jordan