It also was determined that the next meeting will be held in Cape Town, South Africa in March, 2011. The host country introduced the most important developments in the Libyan market as well as identifying the Algerian market for the first time after the joining of Algeria to the Union, in addition to inform members of key developments that have taken place at meetings of international institutions such as: International Securities Services Association (ISSA) and CSD contact group (CCG).

The meeting provided the opportunity to all participants of members’ states to present the most important projects, techniques and tools that the local market works to develop and offer at this time including, proposals received from the International Organization of Securities Commissions regarding the ways to develop and enhance the role of depository centers in serving the investor and minimizing potential risks.

During the meeting, the union’s members presented the most prominent achievements and projects that they have made. In this context, Samir Jaradat, the CEO of the SDC, presented a detailed explanation of the most important achievements of the SDC including, implementing a new version of the electronic members’ information system, launching a new package of features on the SDC website that aims to enhance disclosure and transparency among investors in the Jordan Capital Market. This package included new advanced search mechanism related to all public companies’ corporate actions, statistical charts that illustrate daily trading according to top five nationalities, investor’s categories and investor’s types, in addition to providing daily, monthly and annual statistical reports which include electronic trades analysis, excluded transfers, ownership classification, top ten nationality ownership, investors, accounts & deposited ownership and shareholders registers.

Jaradat pointed out that the SDC is in the final stages of completing many of future projects, including: new client identification system, enhancing risk management measure in the settlement cycle and improving lien system.

He also showed that the most prominent achievement of the SDC is implementing the business continuity & disaster recovery plans according to the requirements of the international standards and its positive effects on the SDC’s performance such as security, continuity of business operations, maintaining market readiness, reducing the cost of risk management and serving 24/7 of all members with high speed link.

The major recommendations and decisions resulted from the meeting: NASDAQ Dubai will step down because it is consolidated into Dubai Financial Market; now AMEDA members are (22) members from (21) countries, circulation the UNIDROIT document to AMEDA members to prepare gap analysis between local securities law and the international law and later set a meeting for lawyers to discuss the harmonization of laws in AMEDA countries, fully supporting that there should be just one questionnaire for all CSDs and that all regulators should talk to each other and base their assessments on that one questionnaire, in addition to assigning Jordan to review the AMEDA bylaw and amend it by the new resolution.