CHALENGES FACED BY GSE SECURITIES DEPOSITORY COMPANY LTD MELVINA AMOAFO Executive Director

INTRODUCTION  GSE Securities Depository Company Ltd. (GSD) commenced operations on November 14,  The Clearing and Settlement functions separated from the Depository Company. A Clearing House established to handle settlement activities.  GSD’s concept is to have a leaner, efficient Depository playing a major role in the Capital Market in Ghana.

INTRODUCTION cont’d  All depository activities are electronic  All Clearing and Settlement activities are also electronic with T+3 being Settlement period.

PROGRESS TO DATE  Depository Statistics as at September 30,  Migration of Securities in progress  Number of Accounts is 25,000  Targets of 200,000 in 2011  Number of Shares immobilized 15.90% of total listed shares  System used for various corporate actions.  Dividends, Rights Issues

CHALLENGES FACED BY GSD  Migration of Securities into the Depository. - Speeding up the Immobilization process - Enhance service delivery to Investors - Public Education  Alternative Sources of Revenue. - Registrar Services - Restructuring of fees for Participants - Broaden the scope of products in depository  Response to international standardization

CHALENGES FACED BY CLEARING & SETTLEMENT HOUSE  Improving Risk Management features  Growing the Guarantee Fund  Ensuring guaranteed settlement