On June 4, 2020, the National Settlement Depository (NSD) and the Taiwan Depository and Clearing Corporation (TDCC) signed a Memorandum of Understanding.
The partnership between NSD and TDCC is aimed at forming a long-term cooperation that will help simplify the process of implementing business innovations and will contribute to the development of the capital markets of Taiwan and Russia.
The parties have agreed to support constructive dialogue and cooperation in the field of electronic voting, the use of financial technologies, servicing investors, providing information services, training specialists of companies through joint seminars, as well as strengthening bilateral ties.
NSD actively develops cooperation with foreign central securities depositories, both in a bilateral format and within the framework of regional associations. Both organizations pay considerable attention to the development of high-tech services for market participants, which will allow cooperation in this area to achieve a synergistic effect.
Sherman Lin, Chairman & CEO of TDCC, noted: "The signing of this MOU is the symbol of a new beginning for both sides to work together in the future. The value and the purpose of the MOU will be to utilize the two entities’ advantages and expertise of core businesses to drive innovation and respond to the opportunities and challenges due to the technological impacts on the market infrastructure."
“This memorandum’s signing is the first important practical step towards building infrastructural channels of interaction between our markets. Judging upon our experience in this area there is a significant demand for such form of cooperation among market participants. In the future it will create additional value for investors of both markets.” – added Eddie Astanin, Chairman of NSD’s Executive Board.