Qatar Central Securities Depository (QCSD) will start functioning as a private shareholding entity from tomorrow, replacing the Qatar Exchange’s central registration department (CRD).

It will operate from its head office, which is located at the Qatar Credit Bureau building near Al Muntazah Intersection, C Ring Road.

Its functions include safekeeping, management, ownership, clearing and settlement of securities and other financial instruments. It also provides related financial services, including registration, acceptance and transfer of government bonds and treasury bills (T-bills).

Moreover, it offers additional services including DvP implementation (delivery versus payment), securities lending and borrowing settlement, management and follow-up of the non-Qatari shareholders’ equity, registration and authorisation of exchange-traded funds as well as participation in initial public offerings.

“Register of all current shareholders recorded in CRD at the QE will be transferred to QCSD. QE systems will be linked to QCSD systems to enforce transfer of listed companies’ shares at the QE between sellers and buyers,” a bourse spokesman said.

QCSD will also process all off-market transfers, either by inheritance or by court order. It will be responsible for pledging and un-pledging shares besides other operations that are currently undertaken by CRD at QE.

In addition, all corporate actions applied to the shareholders’ registry will be conducted only by the company that has all potentials required to facilitate the affairs of the shareholders and customers through the customer service lounge and QCSD website.