The NationalDepositoryCenter and the Republican Central Depository of Securities (Republic of Belarus) have signed a memorandum of cooperation aimed at the expansion of bilateral cooperation and establishment of close business relations.
The cooperation includes exchange of information regarding the functioning of the clearing, settlement and accounting systems of the Russian Federation and the Republic of Belarus; preparation for the establishment of correspondence relations between the two depositories; training and exchange of experience; consulting on electronic document management; and other matters concerning cooperation between the two depositories.
“Undoubtedly, knowledge and understanding of the legal bases of both our countries’ securities markets, as well as understanding of the clearing, settlement and accounting systems operational process, will allow us in the future to successfully carry out projects aimed at integration of the equities markets of the Russian Federation and the Republic of Belarus, as well as to move towards the creation of a common depository space for the CIS states,” said Nikolai Egorov, director of the NDC.
RCDS Director Valentina Timoshenko added: “The memorandum reflects our position regarding the development of trans-border settlements using securities with the Russian Federation. By signing this Memorandum, we are asserting that we have joined forces in this field of depository activity.”