Russian and Chinese CSDs Sign MoU

Russian and Chinese CSDs Sign MoU
25.06.2015 01:00 am

Russian and Chinese CSDs Sign MoU

Securities Services

National Settlement Depository (NSD), Russia’s central securities depository, and China Central Depository and Clearing Co., Ltd. (CCDC), China’s central securities depository servicing governmental securities, signed a Memorandum of understanding. The parties agreed to share experience and information, to develop cooperation in the sphere of depository and settlement operations, operational interactions using corresponding accounts (links), corporate actions processing and information services. NSD and CCDC intend to cooperate in the bilateral format and within the framework of associations (AECSD, ACG and WFC).

Eddie Astanin, Chairman of the Executive Board, NSD, said: “Russia’s post-trading infrastructure integration with the global market and with the Chinese market in particular meets our clients’ interests and expectations. China’s huge investment potential in the Russian market and Russian issuers’ and market participants’ interest in financial instruments and assets of the Chinese market create a demand for the CSD services in both countries. Thus, the MoU signed by CCDC and NSD is an important step which benefits our companies.”

In 2014, NSD together with representatives of the Bank of Russia, Russia’s Ministry of Finance and major market participants held a number of meetings and seminars in two Asian financial centers – Hong Kong and Singapore. Bilateral meetings with representatives of regulators, stock market infrastructure institutions and banking community were organized.

China Central Depository & Clearing Co., Ltd. (CCDC) was founded in 1996 to provide depository services to government securities holders. Currently, in addition to government bonds safekeeping and record keeping, CCDC services OTC corporate bonds. The company is headquartered in Beijing.

Related News

Mastercard Announces Consumer Protection Measures at The Pump

Mastercard announced a new consumer protection program to address the fraud vulnerabilities that exist today at fuel merchants who have not completed the upgrade to safer and... Read more »

IHS Markit Adds Credit Benchmark Consensus Analytics to Securities Finance Platform

IHS Markit, a world leader in critical information, analytics and solutions, today announced a collaboration with Credit Benchmark in which it will use Credit Benchmark’s... Read more »

Income and Wealth not the Driver for Prosperity in High-Growth Markets, Finds New Global Study

Three quarters of people with a below-average income for their country report feeling prosperous; Six in ten people across high-growth markets say access to financial services... Read more »

SWIFT enhances connectivity to VPS, the Norwegian Central Securities Depository

SWIFT will reinforce its connectivity to Verdipapirsentralen ASA (VPS), Norway’s central securities depository (CSD), which could make a shift in transaction volume to SwiftNet... Read more »

BNP Paribas Securities Services and Tata Consultancy Services Partner to Transform Asset Servicing Industry Using Blockchain Technology

BNP Paribas Securities Services teams up with Tata Consultancy Services (TCS) to deliver an innovative blockchain-based platform, called Corporate Event Connect, which... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel