Stage 7: Developing the SDC’s electronic and technical environment and introducing e-services

Year
2006-2017

During the period 2006-2017, the SDC enriched its website with information of interest to securities investors and its members, including public shareholding companies and financial services companies (financial brokers and custodians), in addition to launching a group of electronic services and updated the electronic environment to ensure the continuity of business as follows: 

The SDC developed the “Online Account Viewing” service during the year 2006, which enables investors to follow up on their investment portfolios and view the balances and statements of their accounts of deposited securities and all the transactions executed on them at the level of the investor’s account with his financial broker. The SDC also developed the service during in 2015, the investor can view all his securities accounts and the transactions executed on them with all members of the SDC.

In 2007, the SDC designed and launched an electronic securities pledge system designated for the use of the Center’s bank members, which was designed to facilitate securities pledge procedures for the benefit of local banks.

During same year, the SDC launched the “e-IPO” service, which enables the investor, wherever he is, to subscribe to the securities of public shareholding companies offered for public subscription and available through this service by filling out the subscription forms and printing them, thus improving the mechanism for public subscription which contributes to shortening time and effort and reducing errors by ensuring the accuracy of the information contained in investors’ public offering forms, in addition to making all the required information about the public offerings available through this service, such as the prospectus and its summary, articles of incorporation and articles of association of the company offering its shares for public subscription.

During the same year, the SDC also launched the “Members’ Area” service provided to its members on the SDC’s intranet, which enables each member to enter the section designated for him to view his data and request its amendment electronically, in addition to enabling each member to view violations to enable him to take the necessary measures to correct it in a way that serves the public interest, This service also enables members to publish information and data on the SDC’s website, which was redesigned in 2010 to increase efficiency and facilitate dealing with the system.

To enhance the approach of transparency and disclosure, the SDC in 2007 published the ownership and trading of boards of directors of public shareholding companies and their representatives, shareholders who own (5%) of the capital of public shareholding companies.

It is worth mentioning that the SDC received the Gold Award for the Best Jordanian Websites in the Government Websites category and the Silver Award for the Best Arab Websites in the Financial Institutions and Insurance Sector category during the same year.

During 2008, the SDC also published some financial ratios for public shareholding companies on its website (Return on Investment, Return on Equity, Debt Ratio, Book Value Per Share, Dividends Per Share, Earnings Per Share, Dividends Payout Ratio, Yield Per Share, Market to Book Ratio, Price Earnings Ratio), in addition to the names of shareholders who own (1%) of the capital of public shareholding companies instead of (5%).

The SDC also implemented during 2009 an interconnection project between its systems and the stock exchange’s electronic trading system with the aim of improving the technical work environment for capital market institutions so that entered trading orders are directly verified, and ownership is ensured, in addition to verifying investors’ and brokers’ data.

The SDC also received an A+ rating from the company of Thomas Murray, which indicates a low level of risk. This is due to the electronic linking environment that was implemented between the Jordanian capital market institutions, which directly link the systems of the SDC and the electronic trading system at the Amman Stock Exchange, in addition to the SDC implementing the project of the DR site and the Resumption site in line with the requirements of international standards and ensuring the storage of the SDC’s information and data and the speed of its retrieval in emergency situations.

During 2009, the SDC won the membership in the Board of Directors of the Association of National Numbering Agencies (ANNA), and thus the SDC is the only Arab center to win membership in this association.

During 2010, the SDC added an icon (Corporate Actions) on its website, which provides the possibility of obtaining data on corporate actions in a comprehensive and detailed manner through a set of multiple search options.

In 2011, the SDC developed an electronic lien system, which enables entities to impose and/or release lien electronically on deposited securities, which contributes to simplifying procedures and improving services. Income & Sales Tax Department and Social Security Corporation are linked to the use of the lien system.

During 2015, the SDC developed the mechanism of sending and receiving the settlement payments of securities through joining the Society for Worldwide Interbank Financial Telecommunication (SWIFT), where the SDC has become a direct participant in the Real Time Gross Settlement System – Jordan (RTGS-JO). The SDC also developed its system to use the SWIFT network for settlements payments via (RTGS) using the international standard (ISO 20022 MX Messages).

During 2017, the SDC signed an agreement with the National Centre for Security and Crisis Management as an alternative backup site for the SDC's operations. The National Centre for Security and Crisis Management provide a safe environment prepared with high international standards for hosting the SDC's Business Continuity and Disaster Recovery site to ensure the continuity of the SDC’s work under all circumstances, in accordance with international standards and best practices.

Share