Central Depository Company launches 3 new services for the Capital Market
“Central Depository Company has recently launched a series of customer centric services in its drive for betterment of the Pakistani Capital Market. These services have been devised and initiated by CDC in line with its role as the ‘custodian’ of shares and as a facilitator for the capital market processes.” This was stated by Mr. Muhammad Hanif, Chief Executive Officer – CDC. The three newly introduced state-of-the-art services include:
Shares Registrar Services:
CDC has recently launched Shares Registrar Services for the Pakistani Capital Market. Termed as the most comprehensive R/TA service package in the market currently, CDC’s offering is complimented by a country-wide branch network and state-of-the-art IT infrastructure. A well-equipped call center backed by trained and dedicated customer support staff will facilitate issuers and shareholders on a day-to-day basis. The most important feature that gives CDC a real edge over other R/TA service providers is its Business Continuity Plan (BCP) supported by backup sites and disaster recovery capabilities to ensure recovery of the service immediately in case of any disaster.
With the introduction of R/TA services, CDC has raised the bar of service standards in the industry. Arif Habib Limited has already started benefiting from these services since the recent launch.
Fund Management System:
Realizing its importance as the largest and most preferred provider of Trustee and Custodial services in the private sector, CDC has recently launched a comprehensive Fund Management System (FMS). FMS is an electronic system that creates an automated interface between all its elements to ensure Straight
Through Processing (STP) for settlement of transactions. It develops an online link between the Trustee and Custodial Department at CDC and Asset Management Companies & Settling Banks.
A value-added facility by CDC, FMS will bring efficiency by eliminating manual processes and duplication of work and in minimizing chances of error. Through this system, AMCs will be able to pass online instructions of unit management to the CDC Trustee and Custodial department. FMS provides a single link through which Mutual funds complete transactions as well as avoid multiple individual connections that are costly and inefficient.
CDC access SMS:
Adding another channel of increased customer convenience, CDC has recently introduced CDC access – SMS, a brand new facility that will provide upto date account information to investors through their cell phone.
CDC access, a value-added service that enables investor account holders to access their account information through multiple channels initially comprised of CDC access – IVR, a round-the-clock Interactive Voice Response system supported by a dedicated call center, and CDC access – Web, which allows investor account holders to access their account information through https://www.cdcaccess.com.pk While the IVR and Web facilities are being offered completely free of charge, a nominal fee of Rs. 25 per month is charged for CDC access – SMS facility.