Tunisian government considered how much a central depository is important for the safety of the financial market so he promulgate on November 14th 1994  Law  94/117 .

This law reorganizes the Tunisian financial market and creates a central depository : STICODEVAM. Consequently, STICODEVAM has in charge an everyone's interest mission.

Structure of the Tunisian financial market :

Three words could define the role of STICODEVAM : security, efficiency and transactions guarantee.

Security by insuring the transfer between financial intermediaries holding securities accounts. Securities transfer is simply a written order.

Market Efficiency by reducing costs and operational risks when manipulating physical securities.

Transactions guarantee : settlement in cash (Tunisian Central Bank clearing) and delivery of the securities are simultaneous and irrevocable. In one word, the guarantee of the good achievement of the transactions.

Means : 19 persons, a lot of technology skills and some powerful computers.