Egyptian Central Securities Depository

What Egyptian Central Securities Depository does

The Egyptian Central Securities Depository (ECSD) is a government-owned Egyptian joint-stock company incorporated on 25 March 2021 under Capital Market Law No. 95/1992 and Central Depository & Registry Law No. 143/2020, with EGP 3 billion authorized capital and EGP 1 billion paid-up capital, held 70% by the Central Bank of Egypt (CBE) and 30% by the Ministry of Finance (MoF). It was established to consolidate all central depository, clearing and settlement operations for Egyptian government debt instruments (G-Bonds, T-Bills, Sovereign Sukuk and Floating Rate Notes) under a single FRA-licensed entity, with full operational rollout achieved via Phase I (Treasury Bonds transferred from MCDR, May 2023) and Phase II (Treasury Bills transferred from CBE plus migration to beneficial-owner-level trading on EGX, September 2023).

ECSD's core product is a proprietary CSD System that performs real-time Delivery-versus-Payment (DVP) Model 1 gross settlement, integrates with CBE's RTGS system for cash leg processing, and uses SWIFT MT5XX messaging (MT54X series for settlements, MT564 for corporate action announcements, MT566 for payment confirmations) for inter-institutional communication. Settlements and corporate action payments are processed at the end beneficial owner level using a Unified Identification Code (UIC). The platform supports secondary-market settlements (T+0 to T+5), corporate action processing for coupons and redemptions, automated withholding and capital gains tax calculation (including DTA treatment), REPO settlements, NCBO portfolio transfers, pledge and freeze management, and reporting in PDF/XLS/CSV formats.

ECSD operates a B2B / G2B model serving FRA-licensed custodian banks and custodian companies exclusively, with revenue from a published, FRA-approved fee schedule: one-time membership fees (EGP 150,000 for banks, EGP 50,000 for companies) plus annual renewals (EGP 25,000 / EGP 5,000), custody fees of 3/100,000 on year-end holdings, transaction-based settlement fees (EGP 50 per leg), corporate action fees (2/1,000 capped at EGP 510), REPO and pledge fees, SWIFT messaging charges, and tax reporting/documentation fees. Customer acquisition is direct enterprise engagement; onboarding requires membership contracts, CBE connectivity, and FRA-aligned documentation.

Name

Egyptian Central Securities Depository

Legal name

Egyptian Central Securities Depository

Website

https://ecsd.org.eg

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Government-owned central securities depository established in 2021, providing real-time settlement, clearing, corporate action, and tax services for Egyptian government debt instruments (G-Bonds, T-Bills, Sovereign Sukuk, FRNs) exclusively to FRA-licensed custodian banks and companies.

Ownership category

akta.pro rank

Product category

Central Securities Depository

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Securities and Commodity Exchanges (52321)

SIC

Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Central Securities Depositories (CSDs) & Settlement Systems (FSACAHAA)

akta.pro secondary industries

Securities Clearing & Custody Services (DVP/RVP, Safekeeping) (FSABAJAD), Central Securities Depository (CSD) & ICSD SFT Services (FSACAIAL)

Keywords

• Central securities depository
• Post-trade infrastructure
• Clearing and settlement
• Government debt instruments
• Securities custody services

Headquarters

HQ city

Cairo

HQ country

Egypt

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Administrative Fees: One-time initial membership fees (EGP 150,000 for banks, EGP 50,000 for companies) and annual renewal fees (EGP 25,000 for banks, EGP 5,000 for companies). Includes system access and GUI fees.
2. Custody Fees: Annual withholding fees calculated at 3/100,000 on holdings as of December 31st. Recurring annual fee based on asset value under custody.
3. Settlement Fees: EGP 50 per settlement instruction (per trade leg). Transaction-based revenue for each trade settled on the CSD system.
4. Corporate Action Fees: 2/1,000 per transaction with maximum EGP 510 per payment. Charged for coupon payments and redemption events processing.
5. Failed Settlement Fees: 1/100,000 per failed transaction. Penalty revenue from settlement failures.
6. SWIFT Message Fees: EGP 10 per message plus standard SWIFT fees for settlement and payment messages. Volume-based messaging revenue.
7. Pledge/De-pledge Fees: 2.5/1,000 per request with maximum EGP 500. Charges for pledge creation and release operations.
8. REPO Settlement Fees: 5/10,000 per trade with maximum EGP 5,000. Transaction fee for repurchase agreement settlements.
9. Tax Reporting and Certificate Fees: EGP 250 per stamped tax report, EGP 50 per stamped statement. Fee for issuing official tax documentation.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

ECSD is Egypt's sole government-backed central securities depository, providing depository, clearing, settlement, and corporate action processing for Egyptian government debt instruments (G-Bonds, T-Bills, sovereign sukuk). It operates a proprietary CSD system with real-time Delivery-versus-Payment (DVP) Model 1 gross settlement, SWIFT messaging integration, end-beneficial owner level processing via the Unified Identification Code (UIC), and automated withholding and capital gains tax handling for FRA-licensed custodians.

Product overview

ECSD operates as a single unified Central Securities Depository platform for government debt instruments in Egypt. The core CSD System provides depository, settlement, and clearing services, supported by integrated modules for Corporate Actions (coupon/redemption processing), Taxation (WHT and CGT management), NCBO Portfolio Transfers, REPO Settlement, Pledge Services, Freeze/Unfreeze Services, and Client Relationship Management. The platform processes Fixed Rate Bonds, Zero Coupon Bonds, Floating Rate Notes, and Treasury Bills, connecting custodians, the Egyptian Exchange, CBE's RTGS system, and the Egyptian Tax Authority through SWIFT messaging protocols.

Differentiator

Problem solved

Functional benefit

Products and services

• CSD System (Central Securities Depository Platform)
• Settlement Services
• Corporate Actions Services
• Taxation Services
• REPO Settlement
• NCBO Portfolio Transfer
• Pledge Services
• Freeze and Unfreeze Services
• Reporting Services
• Client Relationship Management Services

Quantifiable outcome

• Settlement window deadline: 3:30 PM Cairo time daily
• +2 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Three partnerships are on record, tiered core and minor.

• International Securities Services Association (ISSA)coreStrategic or Co-development PartnerECSD participates in ISSA forums and collaborates with international securities services organizations to share best practices in clearing, settlement, and post-trade services. ISSA membership supports ECSD's alignment with global standards and provides networking opportunities with other CSDs worldwide.
• Thomas MurraycoreStrategic or Co-development PartnerECSD maintains active membership with Thomas Murray, a leading securities services rating agency. Collaboration includes participation in assessments and due diligence processes. ECSD's risk management framework is aligned with Thomas Murray's Public CSD Rating methodology, supporting international credibility and market confidence.
• AMEDA (Arab Monetary Fund)minorStrategic or Co-development PartnerECSD team is a member of AMEDA, an organization focused on cooperation and knowledge exchange among Arab capital market infrastructure providers to enhance clearing, settlement, and depository services for mutual benefit of regional markets.

Scale indicators7 records

Recent moves9 records

Expansion highlights5 records

Regional players

• Central Depository Morocco (Maroclear): Morocco's licensed CSD for government and private securities, providing settlement, custody, and asset servicing; comparable North African CSD peer for cross-regional benchmarking.
• Dubai Central Securities Depository (Edaa): UAE-based CSD offering post-trade services for securities listed on Dubai Financial Market and Abu Dhabi Securities Exchange; comparable as a regional CSD serving a domestic market with similar regulatory and infrastructure requirements.
• Jordan Securities Depository Centre (SDC): Jordan's national CSD handling depository, clearing, and settlement for the Amman Stock Exchange; a regional peer for Arab capital market infrastructure cooperation and best-practice alignment.
• Saudi Central Securities Depository (Muqassa): Saudi Arabia's licensed CSD and CCP operator, providing depository, clearing, settlement, and risk management for the Saudi capital market; a leading regional peer for ECSD's MENA market infrastructure benchmark.
• Tadawul (Saudi Exchange): Saudi Arabia's primary exchange; relevant as the parent context of Muqassa and a regional benchmark for Arab capital market infrastructure that ECSD participates in through AMEDA.

Direct peers

• Egyptian Exchange (EGX): National exchange of Egypt where ECSD's settled trades are executed; an adjacent market infrastructure counterpart with deep system integration and shared regulatory oversight by FRA.
• Misr for Central Clearing, Depository and Registry Company (MCDR): Egyptian CSD and central registry that historically handled depository and clearing of government securities; transferred its Treasury Bonds activity to ECSD in May 2023, making it the closest domestic peer still active in equity and corporate bond registry.

Broad incumbents

• Clearstream: International CSD and ICSD operator under Deutsche Börse providing global settlement, custody, and collateral services; comparable as a large incumbent whose SWIFT-based post-trade architecture ECSD's system is benchmarked against.
• DTCC (Depository Trust & Clearing Corporation): US central securities depository and clearinghouse operator; global benchmark CSD with comparable DVP, corporate actions, and tax processing services for a large sovereign debt market.
• Euroclear: International CSD/ICSD providing settlement, safekeeping, and asset servicing for cross-border securities; relevant incumbent peer whose operating model and risk framework ECSD aligns with via PFMIs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/e-c-s-d

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Egyptian Central Securities Depository