Securities Depository Center Organizes a Training Workshop for its Members from Financial Brokers and Custodians, for the Project of Financial Settlement of Block Trades Executed on the Amman Stock Exchange

On Wednesday 05/06/2024, the Securities Depository Center (SDC) held a training workshop for its members from financial brokers and custodians in order to inform them of the project to develop the financial settlement cycle for traded securities, which aims to include block trades executed on the Amman Stock Exchange within the financial settlements undertaken by the SDC.

This meeting aims to share with the SDC’s members from the concerned brokers the legal, procedural, and technical aspects of the project. The implementation of this project comes within the framework of the SDC’s endeavor to develop its operations and services, which will contribute to enhancing investor confidence and reducing the risks associated with financial settlement of securities by relying on international standards and best practices. This is in line with the SDC’s vision and mission to create a safe and stable legislative and technical environment for implementing financial settlements for transactions executed on the Amman Stock Exchange through the SDC on the basis of the principle of delivery versus payment (DvP) and based on the provisions of Article (90) of the Instructions of Registration, Deposit and Settlement of Securities for the year 2017. 

Accordingly, the SDC will undertake the completion of the transfer of ownership of securities related to all block trades on the same trading day (T+0) between the relevant accounts and at the same time complete the financial settlements for block trades whereby the buyer and seller brokers agree to carry out the related settlements through the SDC in accordance with technical and procedural controls that limit the risks associated with such transactions.