Security deposit is the conversion of physical security certificates into an electronic form / balances in the SDSC systems, It allows deposit of investor’s certificated securities through SDSC Members / Depository Participants into the Central Depository systems.
At the present, all securities at the SDSC are kept in the dematerialised form, i.e. all issuers have deposited security holdings of their shareholders at the SDSC. The dematerialised form allows selling or buying of securities at the Somali Stock Exchange and other
depository services to be facilitated in efficient manner.
The SDSC Members / Depository Participants are registered institutional members of the SDSC R who open and maintain investors’ SDSC Accounts on behalf of the investor. Before investor buys securities through the primary market “an Initial Public Offering” (IPO) or on the secondary market at Somali Stock Exchange Plc, the investor must open a SDSC Account through a SDSC Member / Depository Participant.
Amendment/ Change of SDSC Account Details
The Account holder who wishes to change details of his/her Account i.e. Address, Names, telephone number or Bank Account details, may through a SDSC Member / Depository Participant submit an Amendment form to the SDSC for change to be effected.
Transfer of securities
The SDSC also facilitates transfer of securities from an investor’s Account to another in case of death, bankruptcy or on any other operation as mandated by law. The transfer process could take between 1 week to 12 weeks.