slide1 l.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Presentation Dead Sea , October 25 th 2007 Samir Jaradat CEO PowerPoint Presentation
Download Presentation
Presentation Dead Sea , October 25 th 2007 Samir Jaradat CEO

Loading in 2 Seconds...

play fullscreen
1 / 15

Presentation Dead Sea , October 25 th 2007 Samir Jaradat CEO - PowerPoint PPT Presentation


  • 378 Views
  • Uploaded on

Overview Presentation Dead Sea , October 25 th 2007 Samir Jaradat CEO Construction Blocks Foundation Fundamentally Sound Building Blocks Quality Materials Constructed According to Standard Code Materials Legislative Blocks: Strong & Dynamic Rule of Law

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Presentation Dead Sea , October 25 th 2007 Samir Jaradat CEO' - Angelica


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide1

Overview

PresentationDead Sea , October 25th 2007

Samir JaradatCEO

slide2

Construction Blocks

  • Foundation
  • Fundamentally Sound Building Blocks
  • Quality Materials
  • Constructed According to Standard Code
  • Materials
  • Legislative Blocks: Strong & Dynamic Rule of Law
  • Regulatory Blocks: Securities Regulator
  • Technical Blocks: Robust & Globally Compliant Technology Systems
  • Operational Blocks: Exchange, Registry & Depository
establishment
Establishment
  • Public utility institution
  • Established in the Kingdom by virtue of the Securities Law
  • A legal entity with financial & administrative autonomy
  • Subject to the Jordan Securities Commission’s monitoring & supervision
  • Commenced operation in May 1999
goals objectives
Goals & Objectives
  • Enhance the confidence of investors in securities & enable them to follow-up their investments in securities with ease by establishing a central registry to safe-keep the ownership of securities
  • Reduce risks related to settlement of trading transactions executed through the Market by implementing by-laws, instructions & procedures that are fair, fast & safe
functions responsibilities
Functions & Responsibilities
  • Unique identification number for investors
  • Central registry system
  • Central depository system
  • Safekeeping via Book-Entry
  • Registered ownership
  • Centralization of ownership restrictions
  • Authenticated corporate actions
  • Clearing & settlement
  • Account level structure
risk management
Risk Management

Markets have procedures, rules & regulations to protect market-participants from loss to assure the smooth functioning of the market & to maintain the confidence of investors

  • Settlement Guarantee Fund
    • Separate legal entity with financial autonomy
    • Fund membership is compulsory for brokers & dealers
  • Settlement cap for market participants commensurate with posted collaterals
  • Settlement bank
  • Buy-in & sell-out measures
  • Immediate suspension of trading for defaulting brokers
  • Strict licensing protocol for market participants (Zero Tolerance)
risk management7
Risk Management
  • Unbiased corporate governance
  • Transparent, automated information dissemination
  • Established business continuity & contingency plans
  • Robust risk controls in the SDC operations
  • Movements are final & irrevocable (zero failed trades)
  • Compliance to G30 recommendations & best practices
  • State of the art Electronic Systems SCORPIO®
      • Clearing & Settlement SystemRegistry System
      • Securities & Funds  Shareholder Ownership Registry
      • Delivery versus Payment  Authentication of Ownership
      • Final & Irrevocable Settlement  Non-Trade Transfers (OTC)
investment made secure
Investment Made Secure
  • Regulation
    • Sound regulatory framework & binding enforcement, with continued progress
  • Accessibility
    • Jordan Capital Market is open to all international investors
  • Repatriationof capital
    • No restrictions on repatriation of funds into or out of Jordan
  • Taxation
    • No capital gains tax, this includes cash & stock dividends
  • Currency
    • The unit of currency in Jordan is the Jordanian Dinar (JOD), & the JOD exchange rate is pegged to US Dollar
  • Registration
    • No physical certificates
    • Dematerialized shares
    • Settlement is effected on the basis of Delivery versus Payment
    • Ownership is updated on T+2 & backdated to T
investment made secure9
Investment Made Secure
  • Ownership
    • Registered under the name of beneficial owner name
    • Nominee & street names does not apply
  • Execution

Local brokers execute in the name of

    • Beneficial owner International broker
  • Accounts
    • Depository Account Custody Account
    • Trading Accounts  Segregated Securities Accounts
  • SettlementCycle
    • T+2 rolling settlement with multilateral netting
  • Settlement Method
    • Book-entry at the SDC
investment made secure10
Investment Made Secure
  • Cash & Clearing system
    • Payments are processed through the "Real Time Gross Settlement System-Jordan" (RTGS-JO), using SWIFT instructions to effect transfers with immediate value
  • Blocking
    • Securities are blocked in the buyer’s & seller’s accounts on T+0 pending successful cash settlement on T+2
  • Turnaround Trades
    • Allowed, provided the same broker is used in the same settlement cycle
  • Numbering
    • ISIN CODE
    • CFI CODE
  • Overdraft Restrictions
    • Overdraft facility in Jordan can be offered to foreign investors for a period not exceeding 15 days for settlement purposes
  • Corporate actions
    • Voluntary (Right Issue, Tender Offer)
    • Non-voluntary (Dividends, Bonus, Stock split, … etc)
slide11

Cooperation with Regional & International Organizations

  • International Organization of Securities Commissions (IOSCO)
  • World Federation of Euro-Asian Stock Exchanges (FEAS)
  • Association of National Numbering Agencies (ANNA)
  • Union of Arab Stock Exchanges
  • Africa & Middle East Depositories Association (AMEDA)
  • 9th Conference of Central Securities Depositories (CSD9)
  • Association of Global Custodian
  • Thomas Murray
vision
Vision
  • Build World-Class Depository in the Middle East
  • Book-entry Clearing & Settlement
  • Implement True Delivery-versus-Payment (DvP)
  • Adhere to best International Standards & Practices
  • Contribute to Better & Enhanced Surveillance
  • Introduce Risk Management Measures
  • Promote Domestic & Foreign Indirect Investment in Jordan
slide13

Future Plans

In Progress

Planned

  • Introduction to Securities Lending
  • e-Payment System
  • Advanced Accounting System
  • Order Verification (Tight Coupling)
  • SCORPIO® Web-Enabled
  • Revise By-Laws
  • Electronic Initial Public Offering e-IPO
  • Members’ Area
  • Some Required Enhancements
    • Disaster Recovery Site
    • Business Continuity Plan
    • Membership Structure
    • SCORPIO®System
  • Advanced Settlement System
  • Develop value added services
  • Bonds Processing
slide15

Thank You

www.sdc.com.jo