Chengetedzai Depository Company Limited, Zimbabwe (CSD)

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Chengetedzai Depository Company Limited, Zimbabwe (CSD)

Chengetedzai Depository Company Limited

Chengetedzai Depository Company Limited, Zimbabwe (CSD)

Chengetedzai Depository Company Ltd is incorporated in 2010 in response to a Public tender by the Securities & Exchange Commission of Zimbabwe to implement a Central Securities Depository. In 2013 Chengetedzai selected the DEPO/X system from CMA for automation due to its efficient and robust design to support registry, clearing and settlement operations. The system went live in 2014. DEPO/X supports all models of DvP via an interface with any payment systems (e.g. via S.W.I.F.T), corporate actions, money market operations. The system  also supports various types of investors - corporates, institutional investors and individuals - both foreign and local. The implementation of the system lead to a major paradigm shift of Zimbabwean depository process: dematerialization of securities holdings, introduction of efficiencies and reduction in counter party risks, moving away from a settlement cycle of T+7 to T+3, implementation of custodian centric model, reduction of transaction costs.

Status: The system went into live operation in September 2014 according to the project schedule

 

 

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