The Association of Eurasian Central Securities Depositories (AECSD) and the Advisory Committee on Financial Markets under the Board of the Eurasian Economic Commission (EEC) have signed a memorandum of cooperation. The event took place in Moscow on November 14th.
The signing ceremony was attended by Timur Zhaksylykov, Minister for Economics and Financial Policy of the EEC, and Vahan Stepanyan, Director of the Central Depository of Armenia OJSC, Chairman of the AECSD.
The parties agreed to establish long-term cooperation in the field of depository activities, improve the accounting systems for securities and develop infrastructure of financial markets.
The signatories noted that joining forces and expanding cooperation is extremely important for the development of integration processes in the Eurasian region, for creating a unified infrastructure of the securities market and introducing new financial technologies. Moreover it was noted that the depositories of the Eurasian Economic Union (EEU) member countries play the key role in creating the conditions for the implementation of the Concept for the formation of the common financial market of the EEU was noted and their experience and expert knowledge could be widely used in this process.