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CHALENGES FACED BY GSE SECURITIES DEPOSITORY COMPANY LTD

CHALENGES FACED BY GSE SECURITIES DEPOSITORY COMPANY LTD. MELVINA AMOAFO Executive Director. INTRODUCTION. GSE Securities Depository Company Ltd. (GSD) commenced operations on November 14, 2008.

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CHALENGES FACED BY GSE SECURITIES DEPOSITORY COMPANY LTD

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  1. CHALENGES FACED BY GSE SECURITIES DEPOSITORY COMPANY LTD MELVINA AMOAFO Executive Director

  2. INTRODUCTION • GSE Securities Depository Company Ltd. (GSD) commenced operations on November 14, 2008. • The Clearing and Settlement functions separated from the Depository Company. A Clearing House established to handle settlement activities. • GSD’s concept is to have a leaner, efficient Depository playing a major role in the Capital Market in Ghana.

  3. INTRODUCTION cont’d • All depository activities are electronic • All Clearing and Settlement activities are also electronic with T+3 being Settlement period.

  4. PROGRESS TO DATE • Depository Statistics as at September 30, 2009. • Migration of Securities in progress • Number of Accounts is 25,000 • Targets of 200,000 in 2011 • Number of Shares immobilized 15.90% of total listed shares • System used for various corporate actions. • Dividends, Rights Issues

  5. CHALLENGES FACED BY GSD • Migration of Securities into the Depository. - Speeding up the Immobilization process - Enhance service delivery to Investors - Public Education • Alternative Sources of Revenue. - Registrar Services - Restructuring of fees for Participants - Broaden the scope of products in depository • Response to international standardization

  6. CHALENGES FACED BY CLEARING & SETTLEMENT HOUSE • Improving Risk Management features • Growing the Guarantee Fund • Ensuring guaranteed settlement

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