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3: ABDULLAH F08md045
Other services :
Trustee and custodial
Investor Account Service
Aim of CDC
•National requirements
• Company and Banking laws
• Regulations & Procedures
• Financial and organizational aspects of the project
Central Deposit System
( CDS )
W ith d ra w a l
In o rd e r to w ith d ra w se cu ritie s fro m C e n tra l D e p o sito ry
S yste m , a n in ve sto r n e e d s to fill o u t th e S e cu ritie s
W ith d ra w a l Fo rm ; a ffix tra n sfe r sta m p s a s p e r th e
p re va ilin g ra te o n th e se co n d o r th ird co p y o f th e fo rm
a n d su b m it it a t IA S d e p a rtm e n t. W ith d ra w a l re q u e st
a lo n g w ith re le va n t d o cu m e n ts is se n t to re sp e ctive
re g istra r a n y tim e th e sa m e d a y. A n in ve sto r re ce ive s
p h ysica l ce rtifica te s fro m th e re g istra r d ire ctly o n th e
b a sis o f first co p y o f S e cu ritie s W ith d ra w a lFo rm .
Trustee & Custodial (T &
C):
Central Depository Company started Trustee &
Custodial Services in 2002.The Company, through its
proactive approach and high standards of service,
has become the market leader in the private sector
and currently provides Trustee & Custodial Services
with an aggregate fund size of approximately Rs.
1 1 7 billion. Since the start of this operation, the CDC
Trustee and Custodial Services has become the
preferred choice due to its excellent service level
and the level of business understanding by their
staff.
Nature of services:
The prime responsibility of CDC as the
trustee/custodian is to take into its custody all the
assets of the Collective Investment Scheme and hold
them in trust on behalf of the unit or certificate
holders.
Tra n sa ctio n S e ttle m e n t
R e ce ip t a n d d e live ry o f se cu ritie s a g a in st p a ym e n t
b o th in scrip t- le ss a n d p h ysica lfo rm .
Corporate Actions:
Sending intimation to the clients regarding any
notices that have been received in respect of bonus
issues, rights issues held on behalf of the beneficial
owners.
Receiving and holding, for the account of the
beneficial owners, all securities received as a result
of a stock dividend, share sub-division or
reorganization, capitalization of reserves.
Merger
Scenario I
Merger of Company ‘A’ (Transferor) with Company
‘B’ (Transferee)
Both companies (company ‘A’ and company ‘B’)
are live on CDS.
Scenario II
• Merger of Company ‘A’ and Company ‘B’ forming
new
company ‘C’
• Both companies (company ‘A’ and company ‘B’)
are live on
CDS while company ‘C’ is declared as an eligible
security.
De-Merger
• Separation of one of the division / department
from
Company ‘A’
• Establishment of separated division / department
as a new
Company ‘B’.
• Company ‘A’ is already live security on CDS
whereas
company ‘B’ will be declared as an eligible
security prior to
de-merger process.
Tax Reporting:
Provision of necessary information relating to
withholding tax on brokerage & commission and
other payments pertaining to the settlement of
transactions.
IT System & Back-Up Support:
Central Depository Company (CDC) is
acknowledged as a model IT-based company with
the finest of IT professionals in the field of system
development and maintenance.
Security Measures:
Various firewalls and protection systems
employed at CDC effectively restrict
unauthorized use of the system and virus
infections with utmost efficiency. Login to the
computer system is protected through token
which generates a constantly changing code
complimented by a 4-digit PIN.
Share Registrar
Services ( SRS )
SRS is one of the most important services
required by a capital market in any country or
region. Central Depository Company, Share
Registrar Services offers a composite portfolio of
maintenance, registration, verification and direct
customer dealing & interaction.
CDC has taken a competitive lead in the market
for SRS services by providing a one-window
solution to shareholders, backed by a country-
wide branch network and IT infrastructure. Also,
independent Legal and Internal Audit
departments ensure statutory and regulatory
compliances.
SRS Features
Ø Customer support services department including,
call
center with a toll free number and a dedicated
and trained
customer support team facilitating customers.
Ø Giving CDC a real edge is its Business Continuity
Program
(BCP) supported by backup capabilities to ensure
security
of information and recovery of the service
immediately in
case of any disaster
Ø Highly professional, qualified and experienced
Scope of Service
qMaintenance of computerized Members’
Register
qMaintenance of specimen signatures of share
holders
qDealing with share holders on SRS Service
Counter,
telephone and through mail.
qVerification of share holders’ signatures on
Transfer
Deeds and Proxy Forms etc.
qDividend Entitlements and Payments to share
holders
qTaking attendance of share holders in Annual
Technology Service
Group ( TSG )
CDC Technology Services Group offers Enterprise
Information Technology based consultancy and
implementation services to its valued customers
across the following markets: Financial Services,
Telecom & Media Medium and Large Enterprises
Focusing predominantly towards Microsoft based
competencies with the right team equipped to
deliver quality services to their customers.
CDC Technology Services:
CDC Commitment:
CDC committed to provide quality services to their
customers comparable to best in class practices. The
company’s aim is to providing its employees an
environment of professional & personal growth.
ABDULLAH
F08MD045
Elements of Central
Depository System
Ø
DEPOSIT OF ELIGIBLE
SECURITIES
The deposit request transaction can be initiated by
an Account Holder/Participant either on behalf of
his client or on his own behalf and will result in the
cancellation of the security certificate in the name
of the current owner and an increase in the CDC’s
nominee holding in the Members’/Security Holders’
Register of the Issuer.
Da
ta
in PARTICIPANT
pu
ti
nt
o
sy
st
me Secu
riti
es T
rans
fer
inti
mati
on
CDC
CDS
A’s B ’s
Securities transfer from A ’ s a / c to B ’ s a / c
Account Account
DETAILED PROCEDURE
There are two parties: party A and party B, Both have
their account s in CDC,
ü A transaction take place between A and B at stock
Exchange.
ü A sells his securities to B.
ü A sent request to his participant to transfer his
shares to B.
ü Participant enter transfer request and data of into
system.
ü In CDS, Shares are transferred from A’s account to
B’s account
ü Intimation about transfer of securities are sent to
both parties
SALMAN AKMAL
F08MD043
Central depository company
( CDC )
qLegal Framework
qTechnical Info
qPerformance of CDC
qFee Schedule
qGlobal Terminal
qInternational Linkages
Legal Framework
Central Depository Company of Pakistan Limited
was formed under Central Depositories Act 1997
which was passed on June 10, 1997. Subsequently,
Central Depository Company of Pakistan Limited
Regulations were developed and approved by the
Securities and Exchange Commission of Pakistan
(SECP).
Legal Framework
Ø The establishment of a Central Depository System
required changes in the legal framework.
Before Central Depositories Act 1997
Ø Registered owner of securities were recognized as
beneficial owner by law. Therefore, all the rights of the
security holder (benefits & voting rights etc.) were
vested with the registered owner which was not
suitable to the depository structure.
Legal Framework
After Central Depositories Act 1997
Ø The Central Depositories Act 1997 made it
possible to recognize the beneficial owner of
securities on the basis of holdings in depository
accounts.
Ø In the current depository structure, all securities
are registered in the name of Central Depository
Company of Pakistan Limited in the capacity of a
nominee, the account holders are considered to
be the beneficial owners of securities on the
basis of their holdings in CDS accounts.
Legal Framework
Relevant Legislation:
Centr al Depositories Act, 1997
from to
1 1 billion Rs. 0.3 million or 0.15% p.a. of
Net Assets, which ever is higher
Sialkot
Peshawer
Hyderabad
Capital Market
Days :
Apart from covering 8 local cities in Pakistan, CDC
has taken the road shows to Abu Dhabi and Dubai in
2006 and held similar events in London (in
collaboration with London Stock Exchange) and in
New York (in collaboration with Citibank and The
Bank of New York Mellon) in July 2007. These events
by the name of Capital Market Days have played a
key role in foreign-investor relationship development
and increasing the investment base & foreign
investment volume in Pakistan. These events have
enabled face-to-face dialogue between corporate
entities and fund managers/institutional investors
who are interested to invest in the country.
CDC Access
Introduction:
CDC Access- Worldwide Access to CDC Accounts
In a drive to increase customer convenience for
investors to benefit from electronic custody &
settlement of securities, CDC has started multiple
channels for investors to access their electronic
securities portfolio through its innovative service-
range
CDC customers can access their account information
through services, which include
IVR (Interactive Voice Response), Web and SMS
facilities.
CDC Access
IVRis a round-the-clock Interactive Voice Response
system supported by a state-of-the-art call centre,
toll free number 0800-CDCPL (23275) and dedicated
customer support staff.
CDC Access – Web enables Investor Account
holders to access their account information through
https://www.cdcaccess.com.pk
CDC Access– SMS gives an added level of
convenience to investors by providing them their
account info on their mobile screens.
CDC Access
Web Kiosk and IVR Phone Booth are two
especially tailored facilities for CDC’s walk-in
customers at the CDC House (Shahra-e-Faisal,
Karachi), enabling them to access
https://www.cdcaccess.com.pk through the
touch-point kiosk machine installed in the
waiting lobby. Similarly, they can access the CDC
Access – IVR and / or talk to a customer
relationship officer through the nearby IVR Phone
Booth.
Your CDC
Relationship Number :
To register for availing CDC Access – IVR,
Web and SMS services, you would be
required to fill in your CDC Relationship
Number on the CDC Access – Registration
Form. Your CDC Relationship Number is the
combination of Investor Account
Services(IAS) ID and your account number.
Your CDC
Relationship Number :
Generation of T -
Pin :
Call at 0800-CDCPL (23275).
After selecting the language preference,
press 1 for self service.
Enter your 12 digit CDC – Relationship
Number (which is a combination of IAS ID
and your Investor Account Number)
Generate your 4 digit T-Pin.
Generation of T -
Pin :
CDC Access - Registration Form: