The NDC joins the International Securities Services Association (ISSA)
October 23, 2006
In October the Executive Board of the International Securities Services Association (ISSA) has unanimously decided to affiliate the National Depository Center to the Association.
Membership in the ISSA will enable the NDC to participate in the collection and analysis of information on financial markets in different countries, as well as in joint initiatives aimed at improving the global infrastructure of settlements and conferences organized by the Association for its members, which include most leading custodian banks and depositories.
Interaction between the NDC and the ISSA, based on exchange of experience, will help to improve the quality and the effectiveness of the Russian securities market, which is especially important for the creation of a central depository.
The International Securities Services Association (ISSA) was established in 1979 with the participation of the world’s largest custodian banks. Currently, ISSA has around 100 member institutions from 47 countries. The Association’s main scope is the analysis of clearing, settlements and custody in the securities market. The Association promotes further development of settlement and depository services in the securities market and improvement of their transparency. It contributes to the growth of professionalism of market participants and exchange of experience among market participants working in different countries and in different market segments. The Association’s main projects include the publication of renewed recommendations of the Group of 30, the standardization of the format of eurobonds’ certificates and assistance in the development of ISIN codes. In 2004 the Group of 30 commissioned the Association with preparing the Group’s recommendations for the improvement of clearing and settlements, which were published in 2003.
For more information contact the NDC’s Press Service.
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