Central Securities Depository Of IRAN

background
person

HOSSEIN FAHIMI: CSDI’S DARA E-PORT OPENS NEW CHAPTER FOR PROMPT SERVICES TO SHAREHOLDERS

The CSDI Chief says launch of new version of DARA e-port opens new chapter for prompt services to shareholders

Chief Executive Officer of Central Securities Depository of Iran, Hossein Fahimi, made the remarks to reporters in a press briefing where he elaborated on 10 other mega projects due by the end of current Persian calendar years which falls on mid-March 2020.

Describing Central Securities Depository of Iran as the dynamic force of the capital market toward development, Fahimi said: "Every project planned at CSDI is in respect of the Depository's strategic map so that it would meet expectations of the beneficiaries."

The CSDI Chief went on to say that once of the challenges facing the Iranian capital market is registry of investment funds unitholders. He added "The study and implementations phases of the new version of this registry platform has already started." He expressed hope to conduct the pilot test of the project by end of summer to evaluate feasibility and adverse events, and improve upon the study design prior to performance of a full-scale research project. 

Fahimi hailed implementation of the delivery versus payment system (DVP) as among the projects that have totally been processed indigenously by CSDI experts. On the same note, he went on to say that "CSDI has proposed the preliminary plan regarding the delivery versus payment system (DVP) of trade settlements to Securities and Exchange Organization of Iran (SEO)'s Board of Directors and is awaiting to witness the change toward internationally standardized measures after half a century past from the onset of stock exchange activities in the Iranian capital market."

The CSDI Chief then raised launch of holding Shareholders General Meeting electronically as another achievement CSDI gained, totally relying on domestic knowhow. He noted that the test launch of the project has been successfully carried out. He expressed hope that with launch of new version of DARA e-port a new chapter will open for our prompt services to shareholders. DARA enables shareholders, to participate in e-GM sessions and vote electronically in a transparent and reliable atmosphere, needless of their physical presence.

The CSDI Chief enumerated development of NetClear, Energy Exchange registry, provision of online portfo to shareholders, design and implementation of dividends distribution via CSDI's Comprehensive Information Gathering System (CIGS), settlement and clearing operation related to Commodity Exchange and CSDI's bid to join International Organization of Securities Commissions (IOSCO) as among other projects that Central Securities Depository of Iran aims to fulfill by the first quarter of 2020.

Release Date: 2019-06-05