CSDI TO FACILITATE TRADING ON STOCKS MARKET THROUGH INDIGENIZED E-SERVICES

CSDI Chief, Hossein Fahimi, pledges adoption of new technology-facilitated services by the Depository that would pave the way toward a smoother investment path in Iran.

The Chief Executive Officer of Central Securities Depository of Iran says the Depository is to totally shift toward new technology-facilitated services that would pave the way toward a smoother investment path in Iran.

Hossein Fahimi made the remarks in an address to a major event that brought together all securities issuers in Iran.

Going further into details, the CSDI chief enumerated specifically two electronic services named "DARA" and "Comprehensive Information Gathering System" (CIGS) which he said have been set up and developed to facilitate the provision of services to companies, issuers and public shareholders of the capital market in general.

"DANA is an absolutely reliable mechanism at issuers' disposal. The system enjoys top security. It is the only portal linking issuers to CSDI which maintains confidentiality while transmitting information," Fahimi said. 

Elsewhere in his remarks, the CSDI CEO elaborated on the second indigenous electronic system developed by the Depository dubbed "CIGS," saying "CIGS is a sophisticated infrastructure which provides a wealth of value-added services to shareholders and – on a broader perspective - to the whole capital market."

Fahimi went on to say that "CIGS aims to contribute to the principle of transparency in the capital market, since all issuers need to register and fill out the relative forms once and for all. Therefor from then on they will have access to all the services and entities in the capital market needless of registering again and again."

The CSDI Chief then referred to efforts to prepare the infrastructure to conduct the so-called electronic general meeting. He said not only will the system provide the issuers with numerous advantages, but it can also facilitate smoother participation by the shareholders in various affairs.

Fahimi concluded that "Central Securities Depository of Iran is resolved to constantly safeguard the rights of its shareholders and pave the way for more effective and less complicated investment. 

Release Date: 7/15/2018


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