Date: 20/01/2008

The SDC plays a key role in promoting investment activity in Jordan

Jordan Securities Depository Center (SDC) was established in 1997 along with the Jordan Securities Commission and the Amman Stock Exchange, and began operating in 1999.The SDC’s responsibilities, a cording to Jordan’s securities Law, are to register securities, handle deposits of securities, transfer ownership of securities, and oversee the deposit, clearing and settlement of securities.

As Samir Jaradat, CEO, points out, “Holding the ownership registry for all listed shares in the country, the SDC plays a key role in promoting investment activity in Jordan and in ensuring transparent, fair and efficient equities trading. The SDC operates according to the highest international standards and has been recognized by the Association of National Numbering Agencies (ANNA). All shareholder registers at the SDC are numbered according to the International Security Identification Number scheme.

The SDC’s members include publicly listed companies (banks, insurance firms, services companies and industrial enterprises), public-sector entities, brokers and others.

In one example of its forward-thinking approach to securities trading, the SDC developed its own “Securities Central Operation Registry Processing and Information Online” (SCORPIO) system that provides a complete solution for the registration, deposit, clearing and settlement of securities. Jordan explains, “SCORPIO also offers a mechanism for risk management and surveillance of clearing and settlement, and its modules include brokers, issuers, custodians, surveillance and auditing systems.” Through SCPRPIO, SDC can provide investors with an impressive array of services.

As for the future, the SDC aims to establish a central registry of securities to make it easier for investors to follow up on the progress of securities and thus to help increase investor confidence in the local market. In addition, the SDC aims to continue to implement new procedures and technologies to ensure efficient, fair and safe trading. The SDC is one reason American investors can be confident about entering the Jordanian market.