Russian and Chinese CSDs to co-operate on post-trade blockchain
25 October 2016 | 3869 views | 0
Source: National Settlement Depository
During an official visit to China, National Settlement Depository (NSD), Russia’s central securities depository, signed a memorandum of understanding with China Securities Depository and Clearing Corporation Limited (CSDC), China’s central securities depository providing services to the Shanghai Stock Exchange and the Shenzhen Stock Exchange.
The parties agreed to exchange experience and information, and to develop cooperation in the sphere of depository and settlement operations, operational interactions via correspondent accounts (links), corporate action processing, and information services.
Eddie Astanin, Chairman of the Executive Board, NSD, said: “The Asian region is a very important element for full-scale integration of Russia’s post-trade infrastructure into the global financial system. Together with Chinese colleagues and under the support of the Bank of Russia and the People’s Bank of China we work on providing investors with mutual access to our countries’ markets. Cooperation in the FinTech sphere will become an important element in our cooperation with CSDC. In particular, we agreed to coordinate our efforts aimed at researching the opportunities for using the blockchain technology in the post-trade sector.”