Dematerialization (DEMAT), which is the move from physical certificates to fully electronic bookkeeping, has started in CSDI since 2010. Apart from the fact that dematerializing of securities is the most accurate form of record-keeping offering more security and increased pace in capital market trading, it leads to less consumption of paper. CSDI also sticks to the self-imposed environment-friendly goal of relying on computer-based automated systems to use fewer papers in its daily business procedures.
The importance of keeping the environment and giving more value to sustainable development, along with the urgency of time-saving procedures, led CSDI as a responsible company to commit itself to comply with such values in its administrative and official duties. That's why dematerialization was strongly formed as one of leading CSDI's working strategies.
CSDI has developed electronic platforms for all its executive duties as central securities depository entity from customer registration/authentication, to depository, listing, corporate actions, settlement, and clearing operations implemented electronically, so the use of paper is limited as much as possible.
The major objectives of this process are the following:
a) Elimination of all paper-based official and administrative letters within the Iranian capital market: Using a domestically-developed internal automation system, through which all eligible users in the Iranian capital market can use it smoothly for their correspondence, requests, and other purposes.
b) Elimination of all paper-based correspondence with CSDI partners in the Iranian National Tax Administration (INTA), brokerage firms, and Government Service offices through the application of electronic systems: All correspondence and working inquiries with the Iranian National Tax Administration are possible through electronic access with no use of paper correspondence. Meanwhile, the exchange of Identification documents of individuals and other related data with brokerage firms and government service offices are now completely conducted electronically.
c) Providing the possibility of joining the Iranian capital market virtually with no in-person reference through CSDI's Comprehensive Information Gathering System (CIGS): In the past, receiving investor's trading accounts and credentials, as well as the authentication of individuals, were used to be in-person and all documents and forms had to be handed physically; however, after the launch of the CIGS and the virtual authentication of the individuals became possible, in addition to eliminating the paperwork, people's physical reference has significantly limited, which led to saving more time and money and a higher level of protection of the environment.
In addition to the elimination of paper correspondence and in-person references, CSDI has had developed at least eight innovative electronic systems and put them in place to provide smooth access of all eligible users to reports being produced routinely at the company.
2. Online authentication
The advent of innovative technologies, which made virtual processing, and e-services possible is considered as a major vehicle to support the ultimate protection of the environment.
Traffic reduction, electronic data recording, and reduced time and energy consumption are all by-products of e-services that made all institutions committed to "environmental protection" as one of their social responsibilities and show this commitment by their responsible work for providing their services electronically.
Since early 2020, concurrent with the emergence Covid-19 pandemic and the increase in public enthusiasm to join the Iranian capital market, CSDI has started the deployment of electronic services to all stages of the registration process.
Previously, people were only able to register their information electronically in the CIGS and the authentication process has had to be done in-person. However, by the launch of the virtual authentication applications, people are also able to perform this step electronically and receive their trading account through their electronic devices.
CSDI chose to take a practical step to display how much the company cares about the environment by offering visitors eco-friendly giveaways at the International Exhibition on Exchange, Bank and Insurance better known as FINEX held in 2016 in Tehran.
In a show of commitment to being an eco-friendly entity, CSDI gave each of the visitors at its exhibition pavilion, an eco-friendly mini plant grow kit. Each kit included a pot, saucer, seeds, and growing medium. The packaging was biodegradable and embedded with seeds. The pot was also made from post-consumer recycled plastic.
By the spectacular eco-friendly present, the company intended to imply that it is making incessant attempts to make a positive difference in our community and to show its way of saying "Thank You" to Mother Nature and protecting our next generation.