Securities Depository Center (Jordan) Explained

Agency Name:Securities Depository Center (SDC)
Jurisdiction:Jordanian government
Headquarters:Amman
Chief1 Name:Mrs. Sarah Tarawneh
Chief1 Position:CEO

The Securities Depository Center (SDC) (Arabic: Arabic: مركز إيداع الأوراق المالية) is the central securities depository of Jordan. It is a public utility institution established in the Kingdom by the Securities Law of 1997.

History

The Securities Depository Center was established in 1997. The Securities Law of 1997 separated the functions of the Amman Financial Market (AFM) and created the Jordan Securities Commission (JSC), the Amman Stock Exchange (ASE) and the Securities Depository Center (SDC). The SDC subjects to the JSC's monitoring and supervision

Goals and objectives

Functions and services

The SDC, which has a legal personality with financial and administrative autonomy is the only entity in Jordan that is legally empowered by the Securities Law of 2022 to oversee the following responsibilities:-

In order for the SDC to perform its operations, it was necessary to establish a central registry and depository of authenticated shareholders along with a central settlement process. This ensures that the shareholders registers of all public shareholding companies are held and maintained at the SDC in electronic form. The SDC is one of the major institutions in the Jordan Capital Market as it holds the ownership registers of all issued shares. It has been assigned, in cooperation with the JSC and the ASE, the task of developing the Jordan Capital Market.

In addition to the SDC's responsibilities that are assigned by virtue of the Securities Law, the SDC performs the following tasks in order to fulfill its goals:

Recognition

External links

Notes and References

  1. https://sdc.com.jo/en/settlement-guarantee-fund Settlement Guarantee Fund