It has always been CDC’s endeavor to increase the understanding of our valued clients regarding the rules, regulations and procedures governing the operations of CDC. The aim has been to increase market efficiency by equipping the market participants with the requisite knowledge and information.
Since 2003, Element Training Program (ETP), formerly known as MTP, has been conducted periodically in Karachi, Lahore and Islamabad to update the CDC Elements about the developments which have taken place through out the year as well as the common procedures and regulations to be followed. The sessions help the elements in refreshing their roles and responsibilities with regards to their association with CDC. This forum also provides an opportunity for CDS Elements to ask questions and share concerns directly with CDC personnel.
The 5th Element Training Program was conducted in Karachi, Lahore and Islamabad in April and May, 2009. The training panel which comprised of representatives from the domains of Marketing & Customer Support Services, Legal & Compliance, Operations and Audit apprised the training participants about their roles and responsibilities as well as the latest enhancements in CDS. Guidelines related to maintenance of CDS accounts in different capacities, audit and security of information were discussed at length.
This year’s training program held special significance as this session was being held just after the recovery of the capital market fromthe recent global economic crises. It provided an opportunity to discuss indetail some of the steps such as introduction of standardized Sub-Account Opening Form, transfer of Securities w.r.t. SECP directives and documentation requirement for input of paid up capital in CDS etc., taken by the regulators as well as CDC to further streamline the market practices.
Issuers and Participants were also enlightened about the role they would be required to play in induction and handling of Unpaid Rightsin CDS. The functionality of issuance, transfer and renunciation of Unpaid Rights in electronic form is in the final stages of development and is expected to be launched soon.
“The objective of this forum is to provide our clients acomprehensive, meaningful and interactive workshop. Our close coordination withour partners keeps us focused on the requirements of our valued clients there by enabling us to tailor CDS to their needs,” said Syed Muhammad Faisal Hashmi, Senior Manager Marketing & Customer Support Services who was heading the training panel.
The ETP proved to be a tremendous success owing to the active support and participation of the CDS Elements. The program proved to be highly beneficial in disseminating important information and served as a platform for recording the concerns and suggestions of the participants. CDC is determined to continue to conduct one-to-one sessions such as ETP for the continued development of the market in the coming years as well.