General Information
Does the SDC provide fund transfers in conjunction with securities transfers?
Yes, the SDC transfers funds in conjunction with securities transfers. The financial settlement is executed through the SDC by bank transfers from the brokers' accounts to the SDC settlement account at the Settlement Bank (Central Bank of Jordan). Consequently, the SDC transfers these amounts to the bank accounts of the brokers who should receive those funds in conjunction with securities transfers from the seller's account maintained by the selling broker to the buyer's account maintained by the buying broker.
Are eligible securities dematerialized, immobilized or transferred physically? Does the SDC provide safekeeping for physical certificates?
The SDC does not provide safekeeping for physical certificates instead securities will be dematerialized and held in book-entry.
What types of instrument are eligible for deposit at the SDC?
According to the by-laws and instructions in force, the instruments that are eligible for deposit at the SDC are shares, Islamic sukuk, corporate bonds, subscription rights, and investment units issued from closed investment funds.
Where and in which time zone is the SDC located?
The SDC's headquarters is located in Amman, Jordan at the following address:
Capital Market Building ـــ Al-Mansour Bin Abi Amer Street
Al-Madina Al-Riyadiya District ـــ Al-Abdali Area
Amman ـــ The Hashemite Kingdom of Jordan
Tel: +962 6 5672788
Fax: +962 6 5672590
P.O.Box. 212465
Amman 11121 Jordan
E-mail: info@sdc.com.jo
Time zone: (GMT+2) winter time, (GMT+3) summer time.
Does the SDC provide cash accounts for settlement purposes?
The SDC does not provide cash accounts, but brokers should open bank accounts in order to transfer the due amounts to the SDC settlement account at the Central Bank of Jordan.
Who manages the SDC?
The SDC is managed by five members’ board of directors and a full time Chief Executive Officer. Two members of the Board of Directors are elected by the SDC’s General Assembly and three members are appointed by the JSC. The term of the Board of Directors shall be three years. No member shall be appointed or elected for more than two consecutive terms.
Who are the members of the SDC?
The SDC's members are:
- Public Shareholding Companies.
- Brokers.
- Custodians.
- Any other entity determined by the Board of Commissioners of the JSC.
What are the SDC goals?
- Enhance the confidence of investors in securities and enable them to follow-up their investments with ease.
- Reduce risks related to settlement of trading transactions executed through the market.
What function does the SDC perform?
The SDC is the only entity in Jordan that is legally empowered by the virtue of Securities Law No. (18) of 2017 to oversee the following responsibilities
What type of organization is the SDC?
The SDC is a non-for profit public utility entity by virtue of the Securities Law No.(23) of 1997.
