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NSD, CENTRAL DEPOSITORY OF ARMENIA SIGN MEMO OF COOPERATION
January 10, 2014 - 14:13 AMT
PanARMENIAN.Net - National Settlement Depository (NSD), Russia's
central securities depository, and the Central Depository of Armenia
(CDA) have signed a Memorandum of Cooperation aimed at further
development and strengthening of mutually beneficial relations,
Finextra reports.
The parties agreed to expand bilateral cooperation for the creation
of an efficient and reliable system of record keeping for trans-border
securities settlements.
According to the memorandum, the depositories intend to establish
close business relations and to organize the exchange of information
regarding securities received for servicing and changes in the
documents regulating the record keeping systems' operations. The
parties also plan to exchange information regarding the technologies,
standards and development plans they use and their participation
in projects, working groups and other events of interest for both
depositories. In addition, the parties plan to conduct bilateral
consultations on all spheres of cooperation.
Eddie Astanin, Chairman of the Executive Board, NSD, commenting
on the development, said: "Development of strategic partnerships
with central securities depositories of the CIS countries is one of
NSD's priorities as Russia's central securities depository. Our joint
work in the Association of Eurasian Central Securities Depositories
contributes to it. We are sure that cooperation between Russia's
and Armenia's central securities depositories will have a positive
impact on the development of our countries' financial markets. The
signed memorandum will allow us to facilitate access to information
about securities serviced by the Russian and Armenian CSDs. This will
improve our markets' transparency for investors in both our countries."
Vahan Stepanyan, CDA Chief Executive Officer, added: "We highly value
expansion of our cooperation with AECSD and, particularly, NSD, in
the area of cross-border settlement and securities account keeping,
as well as information exchange. We believe that the Memorandum
will contribute to strengthening of not only cooperation between the
two depositories, but will also increasing cross-border trading and
investment flow between our countries. Meanwhile, availability of
material information on securities and issuers to local and foreign
investors will facilitate investment decision making."
In October 2011, the depositories signed an agreement on opening
and maintaining the NSD's nominee account with CDA. This allowed NSD
clients to use safekeeping and record keeping services, as well as
settlement services, on Armenian issuers' securities.
http://www.panarmenian.net/eng/news/174731/NSD_Central_Depository_of_Armenia_sign_memo_of_coo peration
January 10, 2014 - 14:13 AMT
PanARMENIAN.Net - National Settlement Depository (NSD), Russia's
central securities depository, and the Central Depository of Armenia
(CDA) have signed a Memorandum of Cooperation aimed at further
development and strengthening of mutually beneficial relations,
Finextra reports.
The parties agreed to expand bilateral cooperation for the creation
of an efficient and reliable system of record keeping for trans-border
securities settlements.
According to the memorandum, the depositories intend to establish
close business relations and to organize the exchange of information
regarding securities received for servicing and changes in the
documents regulating the record keeping systems' operations. The
parties also plan to exchange information regarding the technologies,
standards and development plans they use and their participation
in projects, working groups and other events of interest for both
depositories. In addition, the parties plan to conduct bilateral
consultations on all spheres of cooperation.
Eddie Astanin, Chairman of the Executive Board, NSD, commenting
on the development, said: "Development of strategic partnerships
with central securities depositories of the CIS countries is one of
NSD's priorities as Russia's central securities depository. Our joint
work in the Association of Eurasian Central Securities Depositories
contributes to it. We are sure that cooperation between Russia's
and Armenia's central securities depositories will have a positive
impact on the development of our countries' financial markets. The
signed memorandum will allow us to facilitate access to information
about securities serviced by the Russian and Armenian CSDs. This will
improve our markets' transparency for investors in both our countries."
Vahan Stepanyan, CDA Chief Executive Officer, added: "We highly value
expansion of our cooperation with AECSD and, particularly, NSD, in
the area of cross-border settlement and securities account keeping,
as well as information exchange. We believe that the Memorandum
will contribute to strengthening of not only cooperation between the
two depositories, but will also increasing cross-border trading and
investment flow between our countries. Meanwhile, availability of
material information on securities and issuers to local and foreign
investors will facilitate investment decision making."
In October 2011, the depositories signed an agreement on opening
and maintaining the NSD's nominee account with CDA. This allowed NSD
clients to use safekeeping and record keeping services, as well as
settlement services, on Armenian issuers' securities.
http://www.panarmenian.net/eng/news/174731/NSD_Central_Depository_of_Armenia_sign_memo_of_coo peration