CDC is not only the flag bearer when it comes to introducing market benefiting process efficiencies but also has a strong focus on knowledge dissemination in order to help its customers in achieving the full benefits of these initiatives. This two-pronged approach has helped CDC in duly fulfilling its role towards capital market development.

In the first quarter of the financial year 2009-10, CDC had introduced settlement of Unpaid Rights through CDS in electronic book-entry form. The functionality has been designed to ensure straight through processing including issuance, settlement and conversion of unpaid rights into shares / certificates and credit to respective accounts in CDS. Resultantly, issuance, subscription and renunciation of rights have become virtually paperless. The hassle-free process and reduction in costs will also give a boost to trading in Unpaid Rights.  

These procedures were shared with the CDS users beforehand, prior to the implementation, to help them clearly understand the process and make necessary arrangements at their end. To further elaborate the process, address concerns & queries and to create awareness about this new functionality, comprehensive training sessions were recently conducted in Karachi, Lahore and Islamabad.

All Right Issues announcement would be governed by the updated CDCPL regulations with effect from November 10, 2009.