Meeting Financial Brokerage Companies Operating at the Amman Stock Exchange
30-Dec-2013
To regulate and to develop the Jordan capital market, Jordan Securities Commission (JSC) held a meeting with Financial Brokerage Companies operating at the Amman Stock Exchange (ASE). The aim of the meeting is to clarify how the Central Risks System operates. The System shall come into effect on January 1.2014.
The System shall assist Financial Brokerage Companies to make decisions on funding their clients by inquiring about and accessing - by virtue of a properly signed authorization - information related to clients total indebtedness with all operating Financial Brokerage Companies at the (ASE), as well as the value of provided guarantees in turn for their indebtedness.
The meeting clarified the mechanism used to operate the screens of the System. These screens include the following: the Daily Download of Clients Data Screen, the Inquiry of Information of Current Clients Screen, the Inquiry of New Clients Screen and the Issuance Client Card Screen.
On September 4.2013 the (JSC) Board of Commissioners approved the Instructions to the Central Risks System for Dealers in Securities for the year 2013 that shall come into effect on January 1.2014, after proposing a Draft Project of the Systems’ Instructions to all concerned parties in the Jordan capital market including brokers, investors and others to benefit from their opinions and suggestions prior to finalizing and approving the Instructions and the System.