Jordan
50-99 Employees
The Securities Depository Center (SDC) of Jordan is a public utility institution established in the Kingdom by virtue of the Securities Law No (23) of 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. The SDC, which has a legal personality with financial and administrative autonomy, commenced operation in May 1999 and 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: ● Registration of securities. ● Deposit of securities. ● Transfer of ownership and safekeeping of securities. ● Clearance and settlement of securities transaction. 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.