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Transfer of Holding withheld for 5 more Participants on the directives of SECP
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08/26/2010
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Securities & Exchange Commission of Pakistan (SECP) vide its circular dated August 23, 2010 has directed CDC to withhold the transfer of holding of five more brokerage houses till further advice. The names of the CDS Participants (brokers) are as follows:
1) Ismail Abdul Shakoor Securities (Private) Limited 2) Bagasra Securities (Private) Limited 3) AAG Securities (Private) Limited 4) Mars Securities (Private) Limited 5) Durvesh Securities (Private) Limited
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CDC allows submission of Right Subscription Requests of Unpaid LoRs for IAS clients through IVR, Web, Email and Fax
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04/22/2010
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In its continuous strive to facilitate efficient processing of all corporate actions through CDS electronically; CDC recently implemented the functionality for induction of Unpaid Letter of Rights into CDS. Handling of Unpaid LoRs through CDS helps investors to conveniently subscribe as well as transfer Unpaid LoRs for the purpose of trading.
Keeping in mind that investors are located across Pakistan as well as abroad and realizing their need for easy accessibility, CDC has decided to allow submission of Right Subscription Requests for Investor Account Holders through CDC access – IVR, CDC access – Web, Email and Fax. Therefore, IAS Account Holders, registered to use CDC access - IVR [0800-23275 (CDCPL)] or CDC access – Web facilities can now notify their subscription requests through these channels as well. Similarly, to avail this facility through email (info@cdcpak.com), IAS Account Holders have to use their registered email address with CDC. Moreover, IAS Account Holders can also convey their requests through fax numbers of respective CDC office.
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CDC conducts Interactive Seminar at NUST Islamabad
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03/12/2010
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On February 03, 2010, CDC conducted an Interactive Session at the Business School at National University of Sciences & Technology (NUST) in Islamabad. Participants comprising of students along with faculty members were briefed about the evolution, operations and various services of CDC through a detailed documentary and presentation. They were also informed about the career opportunities in the capital market. A comprehensive Q&A session followed later.
CDC’s participation in this session is in line to the company’s philosophy to help develop a mutually beneficial environment for professionals, students and the industry. CDC also welcomes students and faculty members from educational institutions to visit its premises and understand the workings of the depository function in relation to the capital market.
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Central Depository Company becomes ISO 27001 certified
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03/02/2010
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CDC has been certified with the prestigious ISO 27001 standard, the highest Information Security Management System (ISMS) certification in the world, becoming the third company in Pakistan to receive this award in financial sector. CDC has received this certification for overall depository operations including functional, technical and legal aspects. The ISO/IEC 27001:2005 is the only Information Security Management System (ISMS) standard accepted globally and not only specifies pre-emptive measures for information security but also outlines an effective information security incident reporting mechanism. This mechanism ensures that all security threats, whether identified by management, staff or customers are not only reported in a structured manner but also appropriate corrective/pre-emptive action is performed on the same.
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CDC’s Trustee & Custodial Services achieves 100 funds
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03/02/2010
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CDC’s Trustee and Custodial Services department has achieved 100 funds under its client umbrella with aggregated net assets of more than Rs. 177 billion. With this achievement, CDC has reiterated its position as the market leader in private sector. Since its launch in 2002, CDC Trustee and Custodial Services has become the preferred choice of Asset Management Companies (AMCs) and Pension Fund Managers due to excellent service quality, professionalism, apt business knowledge and adherence to rules & regulations.
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CDC Inducts First Unpaid Rights in Scripless Form
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03/02/2010
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For the first time in the history of the Pakistani Capital Market, 96.99 million Unpaid Right of Soneri Bank Limited were credited in electronic form to the shareholders’ respective CDS accounts in the form of a separate security on January 01, 2010. After the recent implementation of the Electronic Unpaid Rights functionality in CDS, Soneri Bank Limited is the first organization in the corporate sector to have issued Unpaid Rights through CDS. Shareholders now have the option to subscribe, fully as well as partially, to the Right Issue by making the required payment at the designated bank branches before the last payment date i.e. February 22, 2010. Upon the completion of the subscription process, the Unpaid Rights security was cancelled and Ordinary Shares were credited to the respective accounts of the shareholders.
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CDC implements Induction of Unpaid Rights in Central Depository System (CDS)
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03/02/2010
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CDC has implemented the functionality for induction of Unpaid Rights into CDS. The electronic issuance and settlement of Unpaid Rights will result in increased efficiency and convenience for investors as well as Issuers. Previously, Unpaid Rights could only be issued in physical form involving cumbersome manual processing. With the new functionality, Unpaid Rights are credited into shareholders’ accounts in CDS in the form of a separate security just like any other security in CDS which can be easily settled and pledged. Investors can subscribe, fully as well as partially, to the right issue by making the payment to the designated banker to the issue before the last payment date, after which the securities are directly credited into the accounts of shareholders making the entire process virtually straight-through. The Rights issued in physical form can also be easily deposited into CDS through the deposit request functionality. This recent introduction will help issuers in reducing unnecessary costs of printing and dispatching of LoR to the shareholders and also eliminate manual processing relating to dispatch, verification and renunciation of Letter of Rights.
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CDC becomes ACCA Approved Employer
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03/02/2010
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CDC has been registered as an Approved Employer with the Association of Chartered Certified Accountants (ACCA), the global body for professional accountants. The registration process involved the assessment of CDC’s standards for staff training and development as well as overall learning environment at the organization. This association will help CDC attract and retain best talent in the field of Accounting and Finance and will also provide an opportunity for existing CDC employees to receive credit for their work experience. Currently there is a substantial number of ACCA trainees working at CDC offices across Pakistan.
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CDC participates in Interactive Session at IBA
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12/18/2009
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On December 16th, 2009, CDC representatives participated in an Interactive Session for BBA 3rd year students at the City Campus of Institute of Business Administration (IBA) in Karachi. Comprising of more than 100 students along with faculty members, the participants received a round-up of the Pakistani Capital Market in relation to what they have studied in their course books. Furthermore, they were also briefed about the evolution, operations and various services of CDC through detailed documentary and presentation. A comprehensive Q&A session followed later.
Pakistan’s leading business school IBA encourages understanding of business concepts and has helped establish a stringent link between the academia and industry. The IBA students and teachers appreciated the efforts made by CDC and reiterated their commitment to continue organizing similar sessions for their graduating classes.
CDC’s participation in this session is in line to the company philosophy that professionals, academia and industry elements must work together to achieve learning goals. To further help in the training & development of future potential personnel, CDC also welcomes students and faculty members from educational institutions to visit its premises and understand the workings of the depository function in relation to the capital market.
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CDC launches Information Technology Services offering IT-based Consultancy and Implementation Services
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12/04/2009
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Central Depository Company has recently launched Information Technology Services. As a premiere Microsoft Enterprise Solutions and Services Partner, CDC will offer Information Technology based management & technology consultancy, implementation, training and support to medium and large scale organizations across the corporate sector.
This launch comes with a background of the vast experience of CDC’s multi-talented and skilled IT human resource coupled with the state-of-the-art IT based systems and the Company’s reputation of benchmarking quality excellence standards in the services industry.
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CDC Conducts the first ever Brand Awareness and Customer Satisfaction study
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08/05/2009
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CDC Conducts the first ever Brand Awareness and Customer Satisfaction study. The survey was conducted by Gallup Pakistan Pvt. Ltd in the cities of Karachi, Lahore & Islamabad. The survey rated CDC's brand awareness at 87% and Customer Satisfaction at 93%.
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Withholding Transfers of Suspended Participants
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07/29/2009
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The Securities & Exchange Commission of Pakistan under section 21 of the Securities & Exchange Commission ordinance 1969 has directed CDC to withhold the transfer of holding of the following brokerage houses till further advice:
1. CLIKTRADE LIMITED
2. EASTERN CAPITAL LIMITED
3. PRUDENTIAL SECURITIES LIMITED
4. CAPITAL ONE EQUITIES LIMITED
5. M.K.A SECURITIES (PVT.) LTD
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