The approval is a culmination of extensive stakeholder engagement and successful tests towards guaranteeing robust operational, risk management, and technology structures to facilitate an attractive and efficient securities lending and borrowing product.
CDSC was admitted to the CMA Regulatory Sandbox in
Within the Regulatory Sandbox, the financial, legal, operational, and risk management frameworks for SLB have been validated by successful transactions carried out on the Central Depository System (CDS) - the versatile underlying platform supporting SLB.
CDSC has to date onboarded ten (10) SLB Agents to facilitate the rollout of SLB to investors and is in the process of onboarding all other
The CDSC's Chief Executive, Nkoregamba Mwebesa remarked, "We are quite pleased and grateful that our regulator has granted us approval to go live with SLB. This is a major milestone not only for CDSC but also for the entire market as investors have the opportunity to earn positive returns from the stock market during both bull and bear market conditions. We also expect that as SLB transactions grow. "
CMA Chief Executive Officer Wyckliffe Shamiah noted that the approval granted to CDSC after successful testing in the Regulatory Sandbox marks a critical milestone towards the realization of sound market infrastructure, institutions and operations.
Commenting on the roll out of the SLB platform, the NSE Chief Executive,
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