The CEO of the Securities Depository Center, Samir Jaradat, met with Jordan’s leading software vendors today, Feb. 24, 2001. They discussed the changing role that the software companies will play in the future of the SDC. The meeting was arranged to establish that the software vendors, that provide computer programs for companies that trade on the Stock Exchange, are aware of the modifications that they will need to make to be able to work with the Depository.

“As the SDC evolves, it is imperative that we make sure the software companies also evolve and are able to work with us to ensure an accurate and safe environment for everyone who trades on the Amman Stock Exchange,” stated Jaradat.

The SDC is a private, non-profit institution that oversees the settlement and transfer of the ownership of securities. The main functions of the SDC are the registration of securities and transfer of ownership. During the first year of operation, the SDC has simplified the processes of transferring the ownership of stocks. This procedure has established a reputation, both internationally and locally, as a safe and effective method for trading stocks. As well as, created public and investor confidence in Jordan's capital market. This restructuring process has ensured the Jordanian clearance and settlement system operates with maximum efficiency and minimum risk.