Post on 17-Dec-2015
The Nature of Partnerships Amongst CSDs
Vahan Stepanyan
The Association of Eurasian Central Securities Depositories AECSD ChairmanCEO , Central Depository of Armenia, NASDAQ OMX Group, Inc.
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Association MembersCentral Depository of Armenia The National Depository Centre (Azerbaijan)Republican Central Securities Depository (Republic of Belarus)Georgian Central Securities DepositoryNational Securities Depository of MoldovaCentral Securities Depository (Kazakhstan)Central Depository (Kyrgyzstan) State CSD of the Republic of UzbekistanDepository Clearing Company (Russian Federation)The National Settlement Depository (Russian Federation)The National Depository of UkraineUkrainian 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.
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4The Chairman is re-elected annually by AECSD Charter.
General Meeting
Chairman
SecretariatNSD, 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 resultsConsidered Collaboration areas in questionnaire
• Exertion of international influence• Business model• Risk management• Services• Standardization• IT…
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Actual directions of collaboration
CCG investigation results
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AECSD business areas of future
CCG investigation results
Cooperation types
• Correspondent relations• Membership and partnership• Memorandums (understanding, cooperation)• Other (opening accounts, links, etc …)
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Correspondent relations map
Kazakhstan
Belarus
Armenia
AzerbaijanGeorgia
Russia
Moldova
RussiaUkraineUzbekistan
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
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• 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
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• 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.
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• 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 Project
Most Attractive CSDs’ Partnerships
• Exchange and Depository & Settlement interfaces, 8th international conference of AECSD Joint with IAE CIS
• Correspondent relations• Cross – Border links & settlement• Mergers: NDU and SSD in Ukraine, MICEX and RTS
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AECSD Secretary Contacts
National Settlement Depository
P.O.Box 13, bldg 1, Mashkova St., Moscow,105062, RussiaTel.: +7 (495) 232-0513 E-mail: aecsd@aecsd.com www.aecsd.com
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