Depository Links

The Working group "Depository links" (WG) was established in December 2004 at the Constituent AECSD Conference.

The main goals and tasks of the Working group:

• Analyze depository links with depositories nonresidents in each of the countries – Association members;
• Discovering problems that must be resolved in order to provide possibility to establish depository links.

In order to solve designated tasks the WG members answered a questionnaire. The materials received from the WG members and analysis made on the basis of those materials became the basis of the Report "Correspondent accounts of non-residents in depositories of the Association of Eurasian Central Securities Depositories".

AECSD members cannot stay out of globalization process. The initial stage of developing securities market infrastructure in each country was carried out independently, without harmonization with other countries, but now the task of active cooperation between AECSD depositories should be of foremost importance. The goal is to establish cross-boarder links and harmonize our activities (taking into account best national and world practice as well as political, geographical and economical situation). On the one hand it will help increase attractiveness of the national securities, on the other hand – resist growing competition coming from global players.

This report is one of the first steps in direction of such cooperation. The next step on the road to the future market integration would be establishment of links between depositories – Association members.

We hope that even though this Report cannot claim to have comprehensive description of depository systems of countries – AECSD members, it would help to understand better what kind of reforms are needed on each of the local market.

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