Source: National Settlement Depository
On 24 June 2015, 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.
Contributed | what does this mean?