Central Securities Depository migrates accounts onto new platform
The Central Securities Depository (Ghana) Limited (CSD) has successfully migrated securities accounts – bonds, treasury bills and shares – from the defunct Ghana Stock Exchange Security Depository (GSD) and Central Securities Depository (CSD) onto a new platform.
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The new platform, the Millennium Central Securities Depository System (MCSD), is to allow for convenience in trading and settlement of transactions in the country.
A statement from the CSD said, following the migration, all securities accounts in the country have been merged, and both debt and equity holdings will now be maintained in a single account.
“The new system has been interfaced with the Automated Trading System (ATS) of the Ghana Stock Exchange (GSE).
“All cash settlements for trades done on the ATS will be settled by the CSD through accounts of banks held at the Bank of Ghana,” the statement said.
It further advised all equity shareholders, who have not received their new securities account numbers to contact their brokers for them.
The migration and the merger of the represents a major leap in the trading of securities in particular and operations in the capital market in general. It comes on the heels of the initiatives by the CSD to enhance investors experience, streamline settlements and ease operations among all participants and their regulations institutions as well.
The migration is expected to help endear the country’s capital market to investors, leading to increase in transactions.
