CSDI Future Outlook 2008
Wednesday, 2 January 2008
Objectives: To guarantee the security and efficiency of Iranian Stock Market through developing and improving the settlement procedure of the securities trades via concentrating on increasing the efficiency, reducing the risk and costs. 1- Establishing a modern system of Registration, Depository, Settlement and Clearing. 2- To guarantee the Settlement process of securities trades in accordance with global standards. 3- To simplify the process of transferring the ownership of securities and reducing the Clearing costs of the trades. 4- Decreasing the risks related to trades settlement to the lowest point, through risk management tools. 5- Establishing a persuasive database for the securities and shareholders of the companies. 6- Performing the corporate actions, economically and efficiently. 7- Reinforcing the investors trust through increasing the efficiency of trades Settlement and a transparent informing. 8- Providing the possibility of mutual cooperation with global markets. 9- Providing a suitable ground for increasing the volume of trades in the market. Plans: A) Promoting and Optimizing the Depository system 1- Performing the executive preliminaries for delivering the new depository software. 2- Accomplishment of the delivery process, experimental installation and the final transference to the new depository system. 3- To proscure the required hardware for establishing new Depository system. 4- Anticipating and providing backup systems for encountering probable risks. 5- Training the human resources and developing the technical knowledge of staff and members. 6- Anticipating the required interfaces and studying the conditions of transferring existing information to the new system. B) Reforming the methods and executive processes 1- Precise identifying and documenting current procedure. 2- Reviewing and reforming current procedures with the objective of shortening the office work, promoting the efficiency and reducing the costs. 3- Reducing paper work and at last proceeding towards an electronic Settlement system. 4- Increasing the smoothness and safety of the existing processes through establishing a precise and persuasive controlling system. (Using safety factors in published documents, increasing the automation,reviewing accessibility levels to the system and human controls) 5- Completing the shareholding information for performing corporate actions. C) Improving the Clearing procedure and the trades Settlement 1- Changing the method of Settlement from the current semi mechanized system to a full mechanized and efficient system through using Real Time Gross Settlement (RTGS) system. 2- To proscure required interfaces for communicating with the Banking Network of Iran. 3- Choosing a Settlement bank and signing required contracts with the bank provided that the Settlement is performed through the bank payment system. 4- Concluding the design and executive preliminaries of making a Settlement guarantee fund. 5- Anticipating the required fields for making the risk management tools, operational e.g. short buy, pledge and lending/borrowing securities. 6- Guaranteeing the Clearing of trades and accepting the role of CCP. 7- Providing the required foregrounds for performing corporate actions on behalf of issuers. D) Amending regulations and required instructions E) Other Activities 1- Revising and improving the comprehensive establishment and organizing the office work system. 2- Designing and using new productions and services in order to be accountable to the growing demands of the market.