The Maldives Securities Depository (MSD) was first established and operated by the government regulator since the 14th of April 2004. With the legislation of a new Securities Act in 2006, the operation of the MSD was transferred to the private sector on the 23rd of January 2008 with the establishment of the Maldives Securities Depository Company Pvt. Ltd. (MSD). The MSD is a subsidiary company of the Maldives Stock Exchange Company (MSE) Pvt Ltd.
MSD is the first and only Central Securities Depository that was established in the Maldives to speed up share trading for the Maldives stock market. The main aim of MSD is to manage and operate a Central Depository System to hold shares in trust for the shareholders of quoted Companies Act as a safe keeper of quoted securities and process transactions for the Maldives Stock Exchange (MSE).
MSD also provides an efficient central clearing of securities for the securities traded on the Maldives Stock Exchange. Through MSD computerized system, securities are transferred from one client account to another by a mere book entry, resulting script-less trading.
