The National Settlement Depository (NSD) in Russia and the Central Depository of Armenia (CDA), the central securities depositories (CSDs) of their respective nations, have signed a memorandum of cooperation related to cross-border settlement.
NSD and CDA will expand a bilateral relationship for sharing technology, information and processes, so as to generate a more comprehensive record-keeping capability for securities that settle between firms in the two nations.
"Development of strategic partnerships with central securities depositories of the Commonwealth of Independent States countries is one of NSD's priorities as Russia's central securities depository," says Eddie Astanin, chairman of the executive board at NSD. "Our joint work in the Association of Eurasian Central Securities Depositories contributes to it. We are sure that cooperation between Russia's and Armenia's central securities depositories will have a positive impact on the development of our countries' financial markets. The signed memorandum will allow us to facilitate access to information about securities serviced by the Russian and Armenian CSDs."
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