Russia and Turkey’s CSDs Sign MOU

The central securities depositories (CSDs) in Russia and Turkey have signed a memorandum of understanding (MOU) with each other in the pursuit for joint services in corporate action processing.

Russia’s National Settlement Depository (NSD) signed the agreement with Turkey’s Merkezi Kayit Kurulusu (MKK), in which both have agreed to share information and co-operate in developing services such as e-proxy voting services.

The agreement with the MKK is the latest move from the NSD which seeks to overhaul its corporate action processes by implementing modern electronic systems.

Currently, the NSD has accounts with Euroclear Bank and Clearstream Banking, in addition to agreements with six CSDs in Eastern Europe and Central Asia.