Friday, January 10 2014 18:23
Russian NSD and Central Depository of Armenia to Strengthen Cooperation
ArmInfo. 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, the press service of NASDAQ OMX Armenia has told ArmInfo.
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. National Settlement Depository (NSD) is the central securities depository of the Russian Federation, a part of the Moscow Exchange Group. NSD was founded on 27 June 1996. NSD is Russia's national numbering agency and the substitute numbering agency for the CIS, authorized to assign the international ISIN and CFI codes. The international rating agency Thomas Murray has assigned NSD an AA- rating as a central securities depository. Total value of securities on deposit with NSD amounted to RUB21.8 trillion as of 31 December 2013.
The status of central securities depository was assigned to NSD by the Russian Federal Financial Markets Service's order #12-2761/PZ-I dated 6 November 2012.
NSD holds professional securities market participant license #177-12042-000100 for depository operations issued by the Russian Federal Financial Markets Service on 19 February 2009, license #3294 for bank operations issued by the Central Bank of the Russian Federation on 26 July 2012 and license #077-00004-000010 for the clearing activities issued by the Russian Federal Financial Markets Service on 20 December 2012.
Central Depository of Armenia (CDA) is the only centralized registry keeper and custodian in Armenia, NASDAQ OMX Armenia subsidiary and part of NASDAQ OMX Group Inc.
NASDAQ OMX (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 80 marketplaces in 50 countries, and approximately 1 in 10 of the world's securities transactions. NASDAQ OMX is home to more than 3,300 listed companies with a market value of over $7 trillion and more than 10,000 corporate clients.
ATI.SU: Demand for international cargo transportation 30% up in Armenia
Civil Contract nominates Armen Ktoyan for Central Bank Board Member position
Armenia, France considering prospects for expanding technological cooperation