Central Securities Depository Of IRAN




Brokers Electronic Portal (KARA) was launched early 2017 to streamline services provided for brokerage firms by Central Securities Depository of Iran.

The system was primarily aimed to materialize the objectives of the electronic-government, to offer services electronically in a safe and secure atmosphere, to eliminate and reduce the bulk of correspondence, and to facilitate communication between brokerage firms and CSDI.

Earlier, data communication between brokers and CSDI was possible only in-person or through telephone calls for following up matters. Thanks to this system, now it is possible for both sides to communicate electronically and in absentia.


Service Provider CSDI
  • Brokerage firms
  • CSDI (Operations section)
  • To Integrate and streamline all services provided to brokerage firms
  • To Eliminate/reduce bulk of correspondence and phone calls between CSDI and brokerage firms
  • To provide safe and secure data communication
  • To materialize the objectives of the country's electronic-government
Unveiling Date KARA was unveiled to public in April 2017 on the sidelines of the 10th Exchange, Bank & Insurance Exhibition (FINEX-2017).




1. To provide security for the system via "digital certificates" issued by “Iran Capital Market Government Certificate Authority” for the members to sign in the system
2. To prevent  legal misuse via online connection to the sovereign organizations 


KARA  Features are classified into 5 categories:

1. Broker-related operations

  • To request trading account for Iranian individuals and legal entities
  • To inquire about active trading account
  • To change the supervising broker
  • To request to change legal trading accounts
  • To submit powers of attorney

This part enables brokers to review and approve a power of attorney of an investor for probable misuses prevention.

  • To upload documents
  • To learn why trading accounts are not issued
  • To search shareholders based on traded ticker-symbols
  • Online payment of daily defaults
  • Managerial access to reports including  brokers daily credit limits
  • Access to the Iran Energy Exchange portal

2. Inquiries

  • Details of investors’ identity information from the “Organization for Civil Registration”: That helps identify clients and prevent probable misuses. By submitting the national ID number and date of birth, the following information can be obtained:
    • First and last names
    • Birth certificate number
    • Gender
    • Whether the investor is alive or deceased
    • Name of father
    • Birth certificate serial number 

In the meantime, if the brokers wish to have the applicant photo, they can simply submit their national ID number or birth certificate serial number into the system and access to it.

  • Legal trading accounts through CSDI’s post-trade system

This system allows brokerage firms to submit their requests to CSDI to issue trading accounts for legal entities. They can also inquire the trading accounts of the applicants by submitting the information regarding the company name, registration number and the place where the desired company has been registered, in the inquiry section of the system.

  • International Bank Account Number (in Iran is known as Sheba number)  

3. Gathering investors' information

  • Gathering shareholders' banking information for dividend distribution processes
  • Gathering shareholders' contact information to prevent possible misuse of their properties

4. Reports

  • Reports on dividend distribution for each ticker-symbol
  • Settlement Guarantee Fund report
  • Brokers' daily settlement reports in each market

5. Correspondence

  • Send and receive messages
  • Edit messages
  • Send warnings
  • Submit suggestions, comments and criticism
  • Receive reminders of various processes such as dividend distribution