Transcript Document

The Association of Eurasian Central Securities
Depositories (AECSD)
Introduction for the CCG meeting in Zurich,
June 4, 2010
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Association Members
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AECSD was established in 2004
The Association Members 11 Depositories from 10 CIS Countries:
The National Depository Centre (Azerbaijan)
Central Depository of Armenia
Republican Central Securities Depository (Republic of Belarus)
Georgian Central Securities Depository
National Securities Depository of Moldova
Central Securities Depository (Kazakhstan)
Central Depository (Kyrgyzstan)
State CSD of the Republic of Uzbekistan
The National Depository of Ukraine
Depository Clearing Company (Russian Federation)
The National Depository Center (Russian Federation)
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Objectives
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Harmonization of the regulatory framework;
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Establishment of depository links among the members to support crossborder securities transactions;
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Standardization of the technologies for the depository operation, procedures
for depository transaction processing, and rules and regulations governing
the depositories' activities;
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Adoption of international messaging standards for depository transactions
and their use in the national practice;
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Development of Electronic Document Interchange;
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Coordination of the Association members’ processes aimed to integration
into the global depository system.
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Governance Structure
General Meeting
Chairman
Working Groups
• Depository Links
• CSD Legal Issues
• Development of Electronic Messaging Standards
• Administration of the Association Website
• Committee on CSD12 organization
Secretariat
NDC, Russia
The Chairman is re-elected annually by AECSD Charter. Valentina Timoshenko, Director
of CSD of Belarus, currently occupies the position.
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Annual Meetings
of Association Members
• Main governing AECSD’s body
– approves the Association's
Annual Report;
– appoints the Association
Board;
– hears reports presented by the
Association's Working Groups
and identifies the tasks for the
next year;
– determines the venue and
time for holding Annual
Meetings for the next 2 years.
• In 2010 the 7th Annual
General Meeting of AECSD
members
will take place in Minsk
(Republic of Belarus) on 9-10
September 2010
• In 2011 the 8th Annual General
Meeting of AECSD members
will take place in Yerevan
(Republic of Armenia)
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International Activities
• AECSD has gained an
observer status in ECSDA,
AMEDA and ACG
• AECSD participates in
international conferences
and forums (CSD10, Annual
Russian Securities Forum,
SIBOS etc.)
• AECSD has committed to
host CSD12 in Russia
• AECSD organizes and
holds seminars and
trainings on depository and
clearing services for
Association members
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AECSD Members’ Services for Issuers
(AECSD’s report, October 2009)
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11 out of 12 AECSD members
took part in the survey (except
Kyrgyzstan)
Some findings
– Among the AECSD members,
NNA services are offered by five
depositories (45 percent) All of
them are fully involved in the
provision of NNA services
upstream to issuers. Two more of
the AECSD CSDs are considering
the possibility of becoming the
NNAs in the future (18 percent)
– 45 percent out of the AECSD
respondents (80 percent of the
NNAs) are able to interact with
issuers on a direct basis, and one
securities depository (9 percent)
can do so through intermediaries.
Downstream services are mostly
provided through intermediaries
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Comparison of the survey results
with ECSDA and ACSDA ones
shows that the key areas for
AECSD further developments are
as follows:
– Tax Services and Tax Reporting
Services;
– General Meeting Administration
Services;
– Proxy Voting Services;
– NNA Services;
– Official Appointed Mechanism
(issuers to disclose information
(including their regular financial
reports) via the central storage of
corporate information;
– Automation of Receipt,
Processing and Transfer of
Corporate Actions Information.
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Invitation
9-10 September 2010
Minsk, Belarus
7-th International Conference of AECSD
“The Role of Central Depositories in Dataware
Development of the Stock Market
Participants”.
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Welcome to Belarus
• The Republic of Belarus
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Capital City: Minsk (1.8 mln est. 2009)
Total land area: 207,600 km²
Population: 9.7 mln. (2009 est.)
GNP $48.9 billion (2009 est.)
Capital Market
• Regulator: The Ministry of Finance of Belarus
www.minfin.gov.by
• Regulated Market: Belarusian Currency and
Stock Exchange www.bcse.by
• CSD: The Republican Central Securities
Depository www.centraldepo.by
• Government debt instrument issuers:
– National Bank of Belarus www.nbrb.by
– The Ministry of Finance www.minfin.gov.by
Central Securities
Depository of Belarus
• Central Securities Depository of the country (since
1995)
• National Numbering Agency (since 2008)
• Unitarian Entity
• Regulator: The Ministry of Finance of Belarus
• USD 18.605 billion under custody
• Located: Minsk, Belarus
• www.centraldepo.by
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Central Securities
Depository of Belarus
• Services:
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Depositories interaction assurance
Settlement functions
Centralized securities custody
Shareholders registry services
Corporate actions
ISIN coding
Correspondent relations with domestic and
foreign depositories
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Central Securities
Depository of Belarus
• Membership:
– Association of Eurasian CSDs (AECSD)
– Partner of Association of National Numbering
Agencies (ANNA)
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Central Securities
Depository of Belarus
• Contact Information:
– Post: Melnikajte Str., 2, Minsk 220004, Belarus
– Web: www.centraldepo.by
– Email: [email protected]
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Contact Information
• AECSD Secretary
The National Depository Center
13, bldg 1, Mashkova St., Moscow,105062,
Russia
Tel.: +7 (495) 232-0513
E-mail: [email protected]
• AECSD Website:
www.aecsd.com
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Thank you for attention!
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