Download presentation
Presentation is loading. Please wait.
Published byAlexis Woods Modified over 9 years ago
1
1
2
INTRODUCTION December 17, 2010 : Start of the revolution’s first spark by the immolation of the young Mohamed Bouazizi. December 19, 2010 : Protests were triggered in the south-west. Continuing protests throughout the country until the escape of fallen president in January 14, 2011. 2
3
Functioning of the Financial Market from 17/12/2010 to 14/01/2011 The Tunisian financial market continued operating normally without any disruption during the period from December 17, 2010 to January 14, 2011. The stock index was fluctuating upward and downward during this period with important volumes of transactions. 3
4
Functioning of STICODEVAM from 17/12/2010 to 14/01/2011 After the attack on the Government website, a follow-up unit was introduced by the end of December 2010 including the management and the technical departments to ensure the continuity of STICODEVAM’s services during this period, The following measures were taken: An attack test was carried out on the web server hosted at the access provider by a company specialized in auditing IS in order to ensure that the website is protected from any attack; In addition to backing up data on magnetic tapes, a critical data backup was performed on other magnetic supports deposited in both bank’s vault and backup site; A general backup of the users data. 4
5
Functioning of STICODEVAM during the critical days (1) Settlement of trades and instructions under normal conditions without any restrictions. Since 12/01/2011 and because of the curfew, the closing of the settlement day was at 3:00 pm instead of 5:00 pm; On January 14, 2011 there was a high level absenteeism of the member’s staff, therefore, many DVP instructions to be settled on 17/01/2011 were not confirmed. Despite this, it was decided to open the first session of the settlement day of 17/01/2011. 5
6
Functioning of STICODEVAM during the critical days (2) On January 17, 2011 and despite 70% absenteeism in both STICODEVAM’s and members’ staff and the circumstances facing the country, instructions were confirmed and transmitted by members and the settlement occurred ; Cash clearing at the central bank was achieved with 2 hours late. 6
7
From 17/01/2011 to 31/01/2011 : suspension of stock exchange trading mutual fund operations. 17/02/2011 : establishment of a new account type "frozen securities", to lodge securities owned by the president family. 7 Decisions taken during the disturbances
8
At trade resumption, the stock exchange applied some restrictions: 1. Only orders under allowed thresholds are accepted by the trading system. 2. Orders entered are one "day" validity. 3. OTC trades are not accepted. 8 Decisions taken during the disturbances
9
9
10
Conclusion During the disturbances period, it turned out that trades confirmations at T+2 is too long ; Many foreign investors were worried and wanted to be sure that the settlement of transactions occures normally ; The role of CSD is important in ensuring the activity’s continuity during political disturbances. 10
11
11
Similar presentations
© 2025 SlidePlayer.com. Inc.
All rights reserved.