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World Market Intelligence
WMI Company News
January 10, 2014 Friday
Russian NSD and Central Depository of Armenia to Strengthen Cooperation
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, CEO, CDA, 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.
WMI Company News
January 10, 2014 Friday
Russian NSD and Central Depository of Armenia to Strengthen Cooperation
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, CEO, CDA, 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.