Euroclear SA/NV and CETIP have signed today a Memorandum of Understanding (MoU) encompassing a programme to build and develop a co-operative relationship in securities clearing and settlement matters. Both organisations will establish a basis of co-operation to promote cross-border investment and to gain greater knowledge of each other’s activities.
“We are pleased to have signed this agreement with Euroclear.” says, Edgar Ramos, Chairman of CETIP, “We trust this valued relationship will contribute to the further development of operational efficiency, stability and reliable operations within our respective markets.”
Pierre Francotte, Chief Executive Officer of Euroclear SA/NV, adds: “This is Euroclear’s first agreement of its kind with a central securities depository in South America. We look forward to working even more closely with our partners at CETIP.”
In 2007, Euroclear has signed MoUs with The Clearing Corporation of India Limited, The National Depository Center of Russia, as well as the China Government Securities Depository Trust & Clearing Co. The agreement with CETIP signifies Euroclear’s comprehensive approach to building long-term relationships with emerging markets.