Author: cdc_admin

CDC sends Account Statement to all Sub-Account Holders

Karachi, March 18: Central Depository Company of Pakistan Limited (CDC) has recently sent Physical Account Statements to all Sub-Account Holders of thea Central Depository System. The system-generated statements provide details about the securities position in Sub-Accounts in terms of balance available, and pledged etc.

 

Sub-Accounts are opened and maintained by Participants (brokers, banks and DFIs) who perform securities transactions on behalf of their clients. CDC has advised all Sub-Account Holders to carefully read the account statements and contact their Participant and CDC in case of any discrepancy.

 

The physical Account Balance Statement has been sent to Sub-Account Holders as a onetime exercise for their information and reconciliation to help them better safeguard their investment portfolio. This activity was in line to the belief advocated by CDC over the past many years that an ‘Informed Investor means Secured Investment’.

 

Talking about this activity, Muhammad Hanif Jakhura, CEO-CDC stressed that Transparency is not only the most important need of Pakistan Capital Market but also a core value of the Central Depository Company. “From time to time, we have taken measures to ensure that the Capital Market functions on transparent grounds. Although, the dispatch of physical account balances was a tedious and huge exercise, it was necessary for the benefit of Sub-Account Holders.

 

Furthermore, we have launched multiple channels for investors to access their electronic securities portfolio through our innovative service-range CDC access. I would strongly advise Sub-Account Holders to take active interest in protecting their investments and subscribe to FREE-OF-COST CDC access IVR, Web and SMS. They can also subscribe to real time eAlert and monthly eStatement facilities by providing their email address to their Participant to keep updated about their account activities at all times.”

The Central Depository Company – Custodian of over One Hundred Billion Securities worth over 21 billion dollars

The Central Depository Company of Pakistan Limited achieved a unique milestone recently when securities under its custody crossed one hundred billion mark. The market value of these securities is over Rs. 2.0 trillion, which roughly comes to 21.8 billion dollars, exceeding even the foreign exchange reserve of the country by a good margin.  It is a tremendous achievement for a company that started operations just fifteen years ago to successfully de-materialize the entire capital market of Pakistan thereby enabling electronic settlement of trades executed at stock exchanges of Pakistan. Over the years, CDC has set new standards in the service industry of the country by introducing innovative customer centric services which has changed the financial landscape of the country by stimulating unprecedented capital market growth. CDC has deployed state of the systems to ensure smooth functioning and safety of securities under its control.

 

The Chief Executive Officer of CDC, Mr. Hanif Jakhura, while explaining the phenomenal success of the company said ‘ we completely understand the responsibility bestowed on us by our clients to be ‘ameen’ of their securities and will therefore continue to invest in technology and follow best practices to ensure that client assets are safe at all times. We not only have deployed multiple security layers to ensure safety of securities under our custody, we also promise business continuity (in case of an eventuality) within hours. In other words, not only your securities are safe with us and you can access them on real time, on-line basis, you can access your account within a few hours even in case of a major disaster. Such initiatives are the reason that our clients have total confidence on our abilities and services’.

 

In addition to depository services, CDC has diversified its operations in Information Technology Consultancy, Share Registrar Services and enjoys over 80% market share of Trustee and Custodial business of the country.

Government of the Punjab signs Trust Deed for Punjab Pension Fund with the Central Depository Company

Government of the Punjab signed a Trust Deed for Punjab Pension Fund with the Central Depository Company of Pakistan Limited on September 27, 2011 in Lahore. On behalf of the Punjab Pension Fund, Mr. Kamran Michael, Minister for Finance, Human Rights, Minorities and Woman Development, Government of the Punjab was the Chief Guest. Mr. Muhammad Hanif Jakhura, Chief Executive Officer of CDC and Mr. Aquil Raza Khoja, General Manager-Punjab Pension Fund, signed the Trust Deed representing CDC and Punjab Pension Fund respectively.

 

Launched in 2002, CDC’s Trustee and Custodial Services now boasts 121 funds under its client umbrella with aggregated net assets of more than Rs. 240 billion representing over 80% market share. This is clearly reflective of the fact that CDC’s Trustee Service is the preferred choice of Pakistan’s Asset Management Companies and Pension Fund Managers.

 

Punjab Pension Fund was formed under of Punjab Pension Fund Act 2007. The purpose of the Fund is to generate revenue on Punjab Pension Fund reserve for the discharge of pension liabilities of the Punjab Government. The governance structure of the Punjab Pension Fund has been designed on the lines of contemporary best practices in the pension fund industry around the world.

 

On this occasion, Mr. Muhammad Hanif Jakhura, CEO-CDC said, “CDC’s Trustee and Custodial Services has become the market leader in public & private sector due to excellent service quality, professionalism, apt business knowledge, emphasis on technological advancements and strict adherence to rules & regulations, making continuous achievements over the past 9 years. CDC is proud to be associated with the Government of the Punjab to perform the Trusteeship function for the Punjab Pension Fund and we look forward to more business associations with the Government of the Punjab with respect to other services being offered by the Company.”

CDC launches Free of Cost eStatement and eAlert facilities for CDS Account Holders

In order to ensure more transparency by keeping investors constantly updated of their investment portfolio in CDS, Central Depository Company of Pakistan (CDC) has launched two free of cost facilities, namely eStatement and eAlerts facilities for its customers.

 

These value-added facilities will ensure added convenience to CDS Account Holders by keeping them constantly updated about their account information via email. While eStatements has already been launched for Investor Account Holders, eAlerts is an added feature for both Investor & Sub Account Holders.

 

By opting for eStatements, CDS Account Holders will be able to receive their Account Balance Statements through email on their registered email addresses. While through eAlerts they will be able to receive real time transaction alerts in their email inbox. CDC has strongly urged its CDS Account Holders to register their email addresses with their respective Participant [stock broker] or CDC [in case of IAS] to avail these services.

 

While CDS Account Holders have a choice for opting for eStatements on a monthly or quarterly basis, eAlerts will be sent on specific transactions, such as, Transfer of securities from the account, Intimation of securities pledged from the account, Intimation of withdrawal request and Intimation of Subscription of Right Shares.

 

CDC, being a customer-centric organization, has always been pro-active towards providing quality services to its clients. In this day and age where accurate and timely information is the key to strategic decision making, CDC has been perceptive of this need and has over the years implemented state-of-the-art customer convenience channels under the brand of CDC Access to ensure that up-to-date account information is provided to clients. CDC Access has SMS alerts, Web and IVR services under its umbrella. CDC hopes that by implementing such value driven services it can better serve the market while bringing transparency in the overall market processes.

Standard Chartered and Central Depository Company join hands to support AMC Market

Standard Chartered Bank (Pakistan) Limited and Central Depository Company of Pakistan Limited (CDC), have jointly launched a new and unique initiative that offers automated, standardised processing of securities settlement for Asset Management Companies (AMCs) across Pakistan.

 

Standard Chartered Pakistan has successfully integrated its state of the art electronic banking channel Straight2bank (Access) with Central Depository Company’s Fund Management System (FMS)  providing a dynamic platform with a number of possibilities and opportunities for AMCs  by offering operational efficiency, reduced risk, lowered cost and improved transparency via CDC.

 

Straight2Bank is one such global product which efficiently executes and monitors cash management, foreign exchange and trade finance activities. It also offers a wide range of payment solutions on a single platform. This includes transfers, corporate cheques, pay orders, payroll and telegraphic transfers.

 

Commenting on this occasion, Mr. Mohsin Nathani, Chief Executive, Standard Chartered Pakistan said, “Standard Chartered, consistent with our brand promise of being Here for good for our clients, offers banking solutions and products that greatly enhance our clients’ operational efficiency. The bank is keen on building long term partnerships with its clients by offering banking solutions that help add value to their businesses. We believe that this product offering to CDC will go a long way in helping CDC further streamline their business operations through efficient and secure cash management solutions”

 

Central Depository Company of Pakistan Limited (CDC) is the only depository in Pakistan and the sole entity handling the electronic settlement of transactions carried out at all three stock exchanges of the country. CDC provides depository services to a wide range of Capital Market participants which includes Brokers, Asset Management Companies (AMCs), Banks (including Custodian Banks) and general retail investors. CDC is also the largest Trustee & Custodial Service Provider with 117 funds of 25 AMCs under its service umbrella. The integration of SCB and CDC service platforms will result in greater operational efficiency creating a win-win situation for all stakeholders.

 

Commenting on the agreement, Mr. Muhammad Hanif Jakhura, Chief Executive Officer, Central Depository Company said, “This is yet another leap towards providing efficient solutions to our clients by passing the advantage of automation and straight-through-processing. I congratulate both SCB and CDC teams who have really worked hard to accomplish this landmark achievement. I hope that this agreement between our two organizations will further strengthen our relationship enabling us to provide even better & efficient solutions for our clients.”

CDC allows submission of Right Subscription Requests of Unpaid LoRs for IAS clients through IVR, Web, Email and Fax

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.

 

Introduced earlier to provide up-to-date information and timely response to CDC clients against their queries, these channels will now also facilitate the investors in terms of convenience, speed, efficiency and productivity. The decision comes at a time when a number of organizations are issuing their unpaid rights for subscription and the shareholders will therefore be further facilitated while subscribing to the right issue by making subscription requests conveniently through any of these channels, saving time and hassle.