The Nature of Partnerships Amongst CSDs Vahan Stepanyan The Association of Eurasian Central Securities Depositories AECSD Chairman CEO, Central Depository.

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Presentation transcript:

The Nature of Partnerships Amongst CSDs Vahan Stepanyan The Association of Eurasian Central Securities Depositories AECSD Chairman CEO, Central Depository of Armenia, NASDAQ OMX Group, Inc.

2 Association Members Central Depository of Armenia The National Depository Centre (Azerbaijan) Republican Central Securities Depository (Republic of Belarus) Georgian Central Securities Depository National Securities Depository of Moldova Central Securities Depository (Kazakhstan) Central Depository (Kyrgyzstan) State CSD of the Republic of Uzbekistan Depository Clearing Company (Russian Federation) The National Settlement Depository (Russian Federation) The National Depository of Ukraine Ukrainian Securities Depository

AECSD Objectives Harmonization of the regulatory framework; Establishment of depository links among the members to support cross- border securities transactions; Standardization of the technologies for the depository operation, procedures for depository transaction processing, and rules and regulations governing the depositories' activities; Adoption of international messaging standards for depository transactions and their use in the national practice; Development of Electronic Document Interchange; Coordination of the Association members’ processes aimed to integration into the global depository system. 3

4 The Chairman is re-elected annually by AECSD Charter. General Meeting Chairman Secretariat NSD, Russia Working Groups Depository Links CSD Legal Issues Development of Electronic Messaging Standards Administration of the Association Website CSD12 Steering Committee ACESD Governance Structure

AECSD has gained an observer status in ECSDA, AMEDA and ACG AECSD participates in international conferences and forums (CSD forums, Annual Russian Securities Forum, SIBOS etc.) AECSD organizes and holds seminars and trainings on depository and clearing services for Association members 5 International Activities AECSD is committed to host CSD12 in Russia

CCG investigation results Considered Collaboration areas in questionnaire Exertion of international influence Business model Risk management Services Standardization IT… 6

7 Actual directions of collaboration CCG investigation results

8 AECSD business areas of future CCG investigation results

Cooperation types Correspondent relations Membership and partnership Memorandums (understanding, cooperation) Other (opening accounts, links, etc …) 9

Correspondent relations map Kazakhstan Belarus Armenia Azerbaijan Georgia Russia Moldova Russia Ukraine Uzbekistan Kirgizia Ukraine

Membership & Partnership CDA Armenia in SWIFT, ANNA AUSD Ukraine in SWIFT RCSD Belarus in ANNA CSD Kazakhstan in ANNA, IAE CIS, ACG UzCSD Uzbekistan in ACG 11 NSD Russia in ANNA, ROSSWIFT, ECSDA, NSMA DCC Russia in ECSDA, CEECSDA, ISSA NDC Azerbaijan in ANNA, ISSA, FEAS NDU Ukraine in ANNA, SWIFT, IAE CIS, BIBC

Memorandums NSD Russia with UzCSD Uzbekistan, NDC Azerbaijan, RCSD Belarus, Euroclear, NSDL India, CDSL India, HKEx Hong Kong NDU with State Agency of Ukraine for Investments and Innovations, CCP Austria Abwicklungsstelle fuer Boersengeschaefte GmbH, CSD. Austria, and Vienna Stock Exchange 12 NDU with NDC Azerbaijan, Latvian Central Depository UzCSD Uzbekistan with KSD Korea MoU MoC

Other cooperation NDC Azerbaijan with Clearstream Banking, Thomas Murray, SWIFT, CSDs of Turkey, South Korea and China DCC Russia with Association of Global Custodians (AGC) UzCSD Uzbekistan with NSD Russia NDU with Rosbank, Infinitum SD, Central Moscow Depository, OeKB, D&C Tec. 13 AUSD Ukraine opened account with CDF Russia, Oesterreichische Kontrollbank, Austrian central depository RCSD Belarus keeps correspondent relations with INFINITUM Specialized Depository OJSC, Depository Clearing Company CJSC, SEB Bank OJSC and UniCredit Bank CJSC AUSD with FMI under the USAID Capital Markets Projec t

Most Attractive CSDs’ Partnerships Exchange and Depository & Settlement interfaces, 8 th international conference of AECSD Joint with IAE CIS Correspondent relations Cross – Border links & settlement Mergers: NDU and SSD in Ukraine, MICEX and RTS 14

AECSD Secretary Contacts National Settlement Depository P.O.Box 13, bldg 1, Mashkova St., Moscow,105062, Russia Tel.: +7 (495)

16 Thank you. Your questions please