Article 3 Functions of the Unit
The Unit shall perform the following functions:
1. Organization of the database.
2. Issuance of Investors' Numbers.
3. Operation and management of the Clearing, Settlement and Central Depository System.
4. Updating of particulars in the securities accounts based on the transactions carried out at the Exchange, including deposit, sale, purchase, transfer and withdrawal of deposited securities.
5. Opening and maintaining securities accounts in the securities central registry, production of securities holders' balances, transfers, mortgages and other third party interests.
6. Deposit of securities by participating members.
7. Settlement of securities:
(a) Transfer of deposited securities ownership as a result of the deals performed at the Exchange, or as an exempted transaction.
(b) Calculation of amounts due for payment, collection to/from brokers for all deals performed at the Exchange and ensuring their settlement through the Settlement Bank.
(c) Payment of amounts due to brokers whenever net amounts are due from the Guarantee Contribution Fund.
(d) Receipt of amounts due from brokers whenever net amounts are due from them to the Guarantee Fund.
8. Any other functions relating to the clearing, settlement, depository, registration and custody of securities at the Exchange.