The Securities Depository Center (SDC) held a meeting on Saturday at the Marriott Hotel for financial brokers, users of the new programs which will be implemented in the first stage to enable a smooth transition from manual clearing and settlement to electronic clearing and settlement where the manager of the Information and Technology Department presented the usage of the new program.

The brokers were provided with workstations by the (USAID) through (AMIR) program, which will enable the brokers to use the system. The system is divided into two models; the first is the client identification process and the second is the electronic confirmation. The SDC is improving the system by working closely with the users.

The Chief Executive Officer of the SDC, Samir Jaradat, addressed all the inquiries of the attendants and declared that this system is being connected with the Electronic Trading System for the electronically listed companies at the Amman Bourse where a new program will be added after a period of time to connect manual trading at the Bourse with the SDC too. This will speed identifying shareholders for the issuers.

This step coincides with the commencement of the Electronic Trading System in order to realize a complete system that will carry out registration, depository, clearing and settlement of securities and its safe custody in the Kingdom.