Case Study

MUSCAT CLEARING & DEPOSITORY

Muscat Clearing & Depository (MCD), Sultanate of Oman
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Overview

The project is for designing and development of Muscat Clearing & Depository website. The primary goals of the website is to focus on strengthening the investment environment in the country and the region, by ensuring stability and creating efficiencies in an ever expanding Financial Services Industry. Also, to ensure integrity and safety of the financial markets and systems as a whole and promote solutions that systematically reduce risks, enhance operating efficiency and minimize cost.

Challenges

The Objective of the project is to cope with latest technology and solution and to provide following services:
  • Providing custody for the records of shareholders in joint stock companies, investment funds, bondholders, bearers of any other securities - issued by the said companies - and the government as well as public authorities listed with Muscat Stock Exchange.
  • Deposing, registering and providing a custody for shares as well as bonds selling /buying contracts and the other securities amongst shareholders and bearers of securities, and issue certificates of ownership transfer amongst the shareholders, and procedures of custody and lien securities, and submit them.
  • Providing the concerned authorities with information on shareholders or bearers of securities.
  • All about shareholders and bearers of securities.

Solutions

The MSX website will be designed and developed with a flexible Content Management System. The portal will be developed in ASP.NET and MsSQL database with all security standards. Web service will be developed to receive specified data as per the Muscat Stock Exchange (MSX). This website will be fully responsive to correctly render on PC, tablet, laptops and mobile devices. The following are the details for each services:
  • Broker Services:
    • Broker can keep the track of their daily records from user profile in the website.
    • Broker can view the broker positions page on landing to the profile.
    • By default, broker can see all the positions.
    • Broker can have the report of all cash settlements from their profile.
    • Broker can see his trade positions in the profile here. Broker has to enter trade date and intended settlement date to view the results.
  • Custodian Services:
    • Trade Information: On this page, user can find his trade information.
    • Portfolio: Custodian can view the portfolio of investors by instrument type from here.
    • Portfolio by date: Custodian can search for portfolio by date from here.
    • CA Benefits: User can find CA benefits for each investor from here.
    • Security Movements: Security movements for the investor can be viewed from here.
    • Account statement with market value: Custodian can find account statement for investor from the profile.
    • Lien Summary: Line summary for the investors can be find here.
  • Issuer Services:

    Issuer can register in the website to avail different online services. Below are some of the services available for a shareholding companies. Download of the shareholders list
    • Company's ownership percentage (Omani, non-Omani, GCC nationality, Arab nationality, foreigners).
    • Printing of invitations and labels.
    • Inserting of unclaimed dividends to the website through shareholding companies.
    • The details of the company's shares.
    • Follow up of paid and unpaid amounts for the shareholders.
  • Investor Services:

    Muscat Clearing & Depository Co. (S.A.O.C.) provides different services for investors through website including,
    • Registering new investors (issuance of investor's number for each investor).
    • Allotment of unique number to each investor in the securities.
    • Updating investors' data.
    • Providing investors with statements of their holdings and statements of their dealings in securities.
    • Responding to investors' queries about their holdings that are registered with the company, as well as their investments affairs such as:
      • Distribution of cash and shares dividends
      • Merger of companies
      • Liquidation of companies
    • Providing a unified center to enter joint stock companies' registers that are listed in the Muscat Securities Market, for the easiness of tracing by the investors of their investments in the Market from a single point.

Key Highlights

  • Investor Services
  • Issuer Services
  • Brokerage Services
  • Initial Public Offer (IPO) Services
  • Custodian Services
  • Annual General Meeting Services (AGM)
  • E-Portfolio Card Management
  • Central Bank of Oman Services
  • Muscat Securities Market (MSM) Services
  • Capital Market Authority (CMA) Services
  • SANAD Services
  • Commercial Bank Services
  • Mutual Fund Management Services
  • Lending Bank/Insurance Company Services
  • Civil Court Services
  • Foreign Depository Services
  • Information Vendor Services
  • Publications & Statistics Reporting

Result

The portal was able to achieve the result of providing a user-friendly interface for users with option to see all the live and delayed data. User can view the different data and have option to download it.
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