Japanese CSD JASDEC, whose switch from non-profit to profit-seeing status necessitated recognition as a “qualified central securities depository” from the German Bankers Association (GBA), says it secured the necessary approval on 28 June. The old non-profit JASDEC had enjoyed this status since July 1997.
“This means that, as has been the case till now, when a German investor or financial institution chooses to deposit securities into JASDEC, Inc. via its local agent,” explains a BoTM spokesman, “it is not necessary to apply for approval from the GBA on an individual basis.”