Euroclear SA/NV and The National Depository Center (NDC) of Russia have recently signed a Memorandum of Understanding (MoU) laying the foundation for information sharing and potential future co-operative initiatives.
Under the terms of the non-binding agreement, the NDC and Euroclear have agreed to explore opportunities for collaboration in the field of clearing and settlement in the Russian market.
In particular, both organizations agree to transfer market- and infrastructure-based knowledge through a series of technical workshops, to be scheduled later this year.
“The Memorandum of Understanding between Euroclear and NDC is the basis for future co-operation in the field of clearing and securities settlement,” said Nikolay Egorov, chief executive officer of the NDC. “This will enhance the efficiency of cross-border securities transactions and stimulate further development of the Russian capital market.”