Euroclear to consult on Chinese depository
21 August 2002 | 5123 views | 0
International clearing and settlement agency Euroclear has entered an agreement to provide consultancy services to China Securities Depository & Clearing Corporation (SD&C), the sole national depository for the Shanghai and Shenzhen stock exchanges.
Under the terms of the agreement, Euroclear will assess the competitiveness of China’s operational infrastructure and will make recommendations to help SD&C develop its registration and clearing system. Euroclear will also advise SD&C on how to link with international and other national central securities depositories.
Euroclear says it will conduct a detailed review of the current clearing, settlement, depository and registration practices of SD&C. The results of this research will be applied to international standards for the processing and servicing of securities transactions for both domestic and international users.
Euroclear has previously provided advisory services to Algeria, Egypt, Jordan, Lebanon, Morocco and Tunisia in the Mediterranean region, the Czech Republic, Latvia, Lithuania, Poland and Ukraine in eastern Europe, and Peru and Uruguay in South America.