The Central Securities Depository (GH) LTD (CSD) has announced the successful go-live of its new depository and post-trade infrastructure, marking a historic milestone in the modernization of Ghana’s capital market.
The new system, which officially went live on Monday, June 9, 2025, represents a significant technological and operational leap forward. Built to global standards, the platform adopts both SWIFT ISO15022 and ISO20022 messaging protocols for securities and cash settlement, delivering enhanced interoperability, automation, and straight-through processing (STP) capabilities.
End-to-End Integration for Market Efficiency
As part of the upgrade, CSD has integrated with several key national and international platforms to support seamless market operations:
- National Identification Authority (NIA) – enabling real-time investor KYC verification using the Ghana Card.
- Ghana Stock Exchange Automated Trading System (ATS) – for seamless trade settlement of listed securities.
- Bloomberg e-Bond Trading System – improving electronic bond trading, transparency, and access.
- Bank of Ghana Real-Time Gross Settlement (RTGS) System – enabling real-time cash settlement.
- Ghana Interbank Payment and Settlement System (GhIPSS) – automating the payment of corporate action entitlements.
CSD Ghana has also deployed a new Auction/IPO module, replacing the platform introduced in 2004. This enhanced solution supports the issuance activities of the Bank of Ghana, Government of Ghana, and is available to corporate issuers seeking to raise capital through debt or equity offerings.
Driving Innovation and Transparency
To support digital transformation and enhance investor access, the CSD has launched a secure Investor Portal, accessible via web, iOS, and Android. The portal provides investors with real-time access to their securities holdings and transaction history — an initiative aimed at promoting transparency and boosting investor confidence.
In addition, the implementation of the MONTRAN Gateway enables secure messaging between the CSD and the back-office systems of market participants. This advancement supports STP and reduces manual intervention across the transaction lifecycle.
Built for the Future
The new infrastructure is purposefully designed to be future-proof, aligning with the strategic goals of Ghana’s Capital Market Master Plan (CMMP). It is positioned to support cross-border trading and settlement and integrate with regional financial markets — ensuring Ghana’s capital market remains globally connected and competitive.
CSD Ghana’s achievement has already attracted international attention, with Thomas Murray, the global capital market infrastructure specialist, publishing regular updates on the progress of the project.
A Collaborative Achievement
The success of this transformative project would not have been possible without the strong support and collaboration of key stakeholders. CSD extends its sincere appreciation to the Ministry of Finance, the Securities and Exchange Commission, the Bank of Ghana, the Ghana Stock Exchange, the Ghana Interbank Payment and Settlement Systems Ltd, the National Identification Authority, and MONTRAN — our technology partner — for their leadership and guidance throughout the project.
We also recognize the invaluable contributions of Market Participants whose active engagement made the transition successful, the guidance of the Project Steering Committee, and the dedication of the Board, Management and Staff, and the Project Team of CSD, whose collective efforts, professionalism, and resilience made this transformation a reality.
Commitment to Market Excellence
As Ghana’s post-trade infrastructure provider, CSD remains committed to supporting the development of a resilient, transparent, and efficient capital market that inspires trust and enables growth.
