|LuSE Central Shares Depository|
|Profile||The CSD provides centralised depository, clearing and settlement services to the securities market in Zambia since February 1994.|
Ownership of the CSD is made up of 50% broker-dealer members of the Lusaka Stock Exchange and 50% financial and banking institutions.
The activities of the CSD are governed by the CSD rules and procedures which are approved by the Securities and Exchange Commission (SEC), which is a regulatory authority for the Zambian Capital market.
The CSD ensures short Delivery Vs Payment with a rolling T+3 settlement cycle.
A guarantee Fund is in place to guarantee the settlement of transactions in the event of failure of a participant. There has never been any failed trade in the CSD.
|Services offered||The LuSE Central Securities Depository Ltd provides centralised, depository clearing and settlement services to the Zambian securities market.|
The CSD has achieved most of the G30 requirements.
The CSD has developed draft legislation to provide statutory legal framework for the central depositories, clearing and settlement system in Zambia. The legislation will also introduce securities lending and enable the DvP to be achieved at Central Bank level.