CMC's VeDAS for CDBL
October 20, 2003

Central Depository Bangladesh Limited (CDBL) started its live operations effective October 20, 2003, by introducing electronic registry for treasury bills (T-Bills) operations in Bangladesh using CMC's depository accounting system viz. VeDAS. As a part of its ongoing effort to improve market infrastructure, the Bangladesh Bank (BB) has opted to use electronic registry, which will foster the development of secondary market in T-Bills in Bangladesh.

Issuing of scripless T-Bills and recording them in an electronic registry at CDBL will result in eliminating need to issue and keep track of paper certificates, present certificates upon the maturity and will ensure an up-to-date record of owners, which would be as current as the last transfer recorded electronically in the system.

Banks, intermediaries and investors will also gain from electronic registry from doing away the need to store and account for physical certificates and ensuring the timely receipt of maturity payments by enabling investors to designate bank account where payments can be directly credited.

With smooth system operation since October for T-Bills and mock run for equity market for over one month CDBL has gone live with equity operations of depository in December 2003.

Contact
Head Corporate Communication
PTI Building,
5th Floor, 4 Sansad Marg
New Delhi - 110 001
Tel: 91-11-23736151-8
Email: svr@cmcltd.com