Central Securities Depository of Iran attempts to adopt s new mechanized outlook and even dematerialized and non-personal process in providing services to shareholders to be able to handle the large volume of daily transactions, registration, securities depository, clearing and settlement and consequently staying in touch with million-strong investor, issuer and broker communities, regulatory bodies, markets, etc.
NetClear is a multi-currency clearing and reporting system of CSDI which generates and provides electronic reports for beneficiaries imported from the post trade system in the capital market. It covers more than one-hundred brokerage firms and clearing houses, SEO, TSE, IFB, etc.
The system is designed to clear all sorts of securities. It provides a rule-based platform with maximum flexibility while maintaining solid core reliability for definition of new exchanges, markets, and new rules.
One of the features of this system is that it keeps track of investors' information, it is dematerialized and rule-based, easily complies with other systems, generating daily/weekly/monthly or annual reports while enjoying a robust database for reporting and filing the information.
It comprises of three main modules of N-C-Main, N-C-Web and N-C-Reporters.
N-C-Main is used for importing the data related to trades and certificates of shares from the post-trade system, clearing daily trades in different currencies using a dynamic rule-based engine, and exporting clearing information to the NetClear website - that is csdireports.dot.com.
The N-C-Web is used for publishing clearing information to brokerage houses, clearing houses and other beneficiaries. It encompasses electronic declarations and certificates of trades along with an electronic reporting system which includes customs clearing, commissions, tax and financial statements reports.
And finally N-C-Reporters are Windows applications designed for generating reports with customized filtering which are used by brokers, issuers and CSD personnel.
The system is stateless since CSDI's post trade system would recover all data in case of database failure.