Securities Depository Center Company (“Edaa”) was establish in 2016 as a closed joint stock company in accordance with the Saudi Companies Law issued by Royal Decree No. M/3 dated 28/01/1437, with a capital of SAR 400,000,000 divided into 40,000,000 shares, with a nominal share value of SAR 10, and is fully owned by Saudi Tadawul Group.
The establishment was upon the Capital Market Authority (CMA) approval of Saudi Tadawul Group Board of Directors request in relation to converting the Securities Depository Center into a joint stock company in accordance with the Capital Market Law (CML) issued by Royal Decree No. M/30 dated on 2/6/1424H.
The principal activity of Edaa is to operate and maintain the depository , settlement \, securities and to register the ownership of securities. Edaa also offers several additional services such as the management of issuers’ General Meetings (GM) including remote voting services (E-Voting), reporting notifications, and maintenance of critical core data. In addition to providing any other service related to its activities that Edaa deems to be provided in accordance with the capital market law and its implementing regulations
Edaa aims to achieve the strategic objectives of the financial market in terms of developing the infrastructure and implementing the resulting procedures to execute transactions in line with international standards. It also aims to enhance the efficiency of services related to securities deposit and ownership registration by developing a more streamlined environment that promotes excellence in all sectors related to the financial market. Edaa supports the first objective of the Financial Sector Development Program, which is to ensure the establishment of an advanced capital market.
The main activity of Edaa is to operate the depository and settlement system used to register and maintain securities and their ownership electronically. Edaa seeks to develop its infrastructure, systems and procedures to comply with international standards while providing the highest levels of reliability and efficiency.
In addition to its basic tasks, Edaa provides many other services that add more value to its role, such as organizing general assemblies, electronic voting, and submitting reports and notifications.
Edaa provides services for a full range of securities, which are offered by “Tadawulaty” and also provides services in partnership with custodians through the “Tadawulaty” platform. Brokers or custodians can vote on behalf of investors through the “Tadawulaty” platform that also facilitates general meetings. The types of securities that Edaa deals with include stocks, debt instruments, Sukuk and bonds, exchange-traded funds, real estate investment-traded funds, closed-end exchange-traded funds, and investment funds.