Central Bank of Oman, Central Securities Depository System

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Central Bank of Oman, Central Securities Depository System

Central Bank of Oman, Central Securities Depository, Online Auctioning and Securities Settlement System

In May 2011 Central Bank of Oman launched the Central Securities Depository, Online Auctioning and Securities Settlement System (DEPO/X) which is CMA Small Systems AB product offering the full functionality of Central Securities Depository (CSD) system. DEPO/X offers full automation of depository operations for state and corporate securities covering all steps constituting the full process of an auction such as registering, bidding and settlement.

DEPO/X can provide a true Delivery versus Payment (DvP) model due to its online integration with Real-Time Gross Settlement system (RTS/X, previously installed in CBO by CMA in 2005, with subsequent infrastructural upgrade in January 2012). DEPO/X has been adjusted accordingly to fulfill requirements of the CBO, the national regulating authorities and legislation terms. Instruments (securities) supported by DEPO/X system for CBO are: 

  • Government Bonds;

  • Government Treasury Bills;

  • Central Bank Bills;

  • Central Bank Certificates of Deposit;

  • Central Bank Short-Term Deposits;

  • Commercial Papers;

  • Money market facilities.

DEPO/X is compliant with World Bank and BIS principles and recommendations regarding securities settlement and payment systems thus allowing the mitigation of all types of related risks. DEPO/X significantly reduces or even totally avoids all types of risks related to payment systems (legal, operational, financial, security and systemic).

Status: The system went into live operation in May 2011 according to the project schedule.

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