Thursday, October 13 2011 14:20
Central Depository of Armenia and Russian National Settlement Depository Sign Correspondent Relationship Agreement
ArmInfo. "Central Depository of Armenia" open joint stock company (CDA) and National Settlement Depository (NSD), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, have concluded an agreement on opening and maintenance of NSD's nominee holder account with CDA.
The press service of NASDAQ OMX Armenia reports that the signing ceremony took place in Yerevan on 6 October, 2011.
The depositories consider an expansion of cooperation within the framework of the Association of Eurasian Central Securities Depositories (AECSD) as mutually beneficial and promising. The two companies plan to establish close business relations.
Eddie Astanin, Chairman of the Executive Board, NSD, said:
"Within the framework of NSD's strategic development directions we consider operational interactions with central depositories of CIS countries as one of our priorities. We are servicing securities of CIS countries' issuers (including settlements on transactions and conducting of corporate actions) on basis of our customers' and issuers' needs; all this is being done in close interactions with central depositories-AECSD members."
Vagan Stepanyan, Director, CDA, pointed out:
"As a result of our cooperation, National Settlement Depository has gained a right to open a nominee holder account with the Central Depository of Armenia; it will allow NSD to buy Armenian securities on behalf of its clients. This is an important step towards simplification of investment process and stimulation of Russian investments in Armenian securities."
The account opened with CDA allows NSD to provide to its customers depository services related to custody and recordkeeping of Armenian issuers' securities and to conduct settlements on securities. To date NSD receives Armenian issuers' securities for servicing upon its clients' requests.
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, and with over 3,900 companies, it is number one in worldwide listings among major markets. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries.
In January 2008, Nordic exchange operator OMX Group acquired 100% of shares of the Armenian Stock Exchange (Armex) and the Central Depository of Armenia (CDA). After the combination of NASDAQ and OMX in February 2008, Armex and CDA have become fully owned by the NASDAQ OMX Group, Inc. For more information on the NASDAQ OMX Group, Inc. visit www.nasdaqomx.com.
On January 27, 2009, "Armenian Stock Exchange" ojsc was officially renamed as "NASDAQ OMX Armenia" ojsc. On June 5, 2009, "NASDAQ OMX Armenia" ojsc became the owner of 100% of the shares of the "Central Depository of Armenia" ojsc.
Central Depository of Armenia is the only organization acting exclusively as a main central custodian and securities registrar, and providing clearing and mutual settlement services in the Republic of Armenia. Since 2010 CDA is the only organization to provide International Securities Identification Numbers (ISIN) to securities issued in Armenia.
National Settlement Depository (NSD) is the largest settlement depository in Russia, a part of the MICEX Group, servicing on-exchange and OTC transactions with all types of debt and equity securities of Russian issuers and providing settlement services to participants in financial markets of the Russian Federation.
NSD provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, the majority of transactions with equities and also services UIT units and securities of foreign issuers.
In accordance with agreements concluded between NSD and the Bank of Russia, NSD acts as a settlement center for the organized securities market.
NSD is Russia's national numbering agency and the substitute numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.
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