The Securities Depository Center of Jordan

The Securities Depository Center of Jordan (SDC) is a public utility institution established in the Hashemite Kingdom of Jordan by virtue of the Securities Law. The SDC was established and commenced operation in May 1999 and it is the only entity in Jordan that is legally empowered to oversee the registration of securities, deposit of securities, transfer of ownership, safekeeping of securities and clearing and settlement of securities transactions. The SDC is subject to monitoring and supervision by the Jordan Securities Commission (JSC).
 
The SDC’s governance structure consists of a seven member board of directors and a full time Chief Executive Officer. Four of the board members are elected by the general assembly of the SDC representing SDC members,
whilst three of the board members are appointed by the JSC.
 
The SDC’s ability to performs its tasks, accomplish new projects, and meet market demand and new developments comes from the SDC’s electronic system, SCORPIO® (Securities Central Operation Registry Processing & Information Online). This is an SDC-designed system that allows it to undertake technical, strategic, and administrative initiatives to build and strengthen its infrastructure, implement and achieve its tasks and responsibilities.
 
The recent milestone of the SDC, which was on October 2018, was the launching of the “e-portfolio” service, allowing investors an online viewing access of their accounts held with SDC members, personal data and
balances of securities, executed transactions and statements of securities’ accounts updated on a daily basis.
 
The SDC has been recognized by the Association of National Numbering Agencies (ANNA) and the JSC as the sole numbering agency in Jordan for the assignment of codes adopted by ANNA regarding the financial instrument
including International Security Identification Numbers (ISIN), Classification of Financial Instruments (CFI), and Financial Instrument Short Name (FISN). All securities registered at the SDC are numbered according to each code numbering scheme.
 
Based on the SDC’s continuously seeking to enhance transparency and disclosure, it provides a lot of information through its website in a timely, accurate and updated manner such as board members’ names, holdings and trades, major shareholders, financial figures and statistical data. The SDC also provides a variety of electronic services.
 
In the coming years, the SDC plans to:
• Develop a system for sending SMS to investors.
• Introduce DvP Settlement for block trades.
• Update the SDC’s electronic system to the latest version of Oracle Technologies and making it web-enabled.
• Provide dividends distribution on behalf of the Issuers.
• Implement a new Document Management System.
• Implement the plans included in the Capital Market Development Report, made by the EBRD, related to the
SDC assignments.