Central Securities Depository of Iran developed the DANESH system to automate and streamline its internal processes for the sake of optimum quality, swiftness and authenticity in providing services to its clients.
Due to the ever-increasing processes of CSDI and the importance of accuracy and agility in their implementation, creation of DANESH system took priority.
The system was launched in 2016 and merely executed dividend distribution its early phase.
However, in response to the needs of different departments, other tasks such as managing guarantees and power of attorneys, answering inquiries, issuing trading accounts, modifying investors’ specifications, management mortgage rights, generating reports and sending SMS were supplemented to it.
In 2017, an upgraded version was made available to the CSDI employees.
1. Equity Market Settlement Department (collaterals, dividend distribution and SMS dashboard)
2. Commodity Market Settlement Department (collaterals, dividend distribution and SMS dashboard)
3. Legal Affairs Division (power of attorney dashboard)
4. Shareholders Operations Department (issuing new trading accounts, modification of a shareholder's personal information)
5. Financial Affairs Department (dividend distribution dashboard)
6. Issuers' Affairs Department (mortgage rights and reporting dashboard)
7. Public Relations (SMS dashboard)
|Linking with Other Systems & Entities|
1. Dividend Distribution
- Management of dividend distribution
- Generating financial reports
2. Companies’ capital increases
3. Mutual funds management
4. Collateral Management
- To register, extend, reduce and redeem collaterals
- To monitor maturity dates
- To transfer credit limit data to brokers
5. Mortgage Rights
The Issuers' Affairs Department examines lists of mortgage rights and applies them into the post-trade system.
IX Reporting System provides sets of reports to various departments at CSDI, separately provided to each department based on their specific needs and requirements.
There are two departments use the Short Message Service (SMS) provided by DANESH system.
- Public Relations Department: to send notifications, greetings and other variety messages on different occasions
- Equity Market Settlement and Commodity Market Settlement departments[SA1] : to declare dividend distribution to the beneficiaries.
8. Issuance of Trading Accounts
Here, applications for institutional trading accounts submitted by brokerage firms through "Brokers Electronic Portal" or KARA are screened and accounts will be subsequently issued. In this dashboard, essential legal inquiries and verifications are executed through various channels.
9. Shareholders Information
CSDI checks, updates or modifies shareholder's information such as identification, contact information, bank account number (for dividend distribution), etc