INFINITUM Asset Services holds a round table:"The role of special depositories in the work of financial markets" within the framework of the AECSD Conference

On 8-9 September, in Tbilisi, the XIII Annual Conference of the Association of Eurasian Central Securities Depositories (AECSD) was held named "Enhancing the role and stabilization of the Central Depositories’ operation in the period of global instability", which was attended by Director General of the specialized depository INFINITUM Asset Services Pavel Prass and Boris Cherkassky, Advisor to Director General. The Conference was attended by the representatives of central depositories of Azerbaijan, Armenia, Belarus, Georgia, India, Kazakhstan, South Korea, Russia, Ukraine, participants of the Georgian financial markets, as well as delegates of major international infrastructure organizations - Euroclear, Clearstream, SWIFT, Thomas Murray Data Services, and others.

The first day of the Conference was marked by a round table named "The role of special depositories in financial markets", which was moderated by Boris Cherkassky. Pavel Prass made his report "The Role and Opportunities of Special Depositories". This was followed by presentations of the representatives fr om Russia, Kazakhstan, Korea, Armenia, and Georgia. Although being new to the participants of the AECSD, the topic of special depositories aroused a great interest.

The second day was distinguished by the annual meeting of the Association members and observers. The Association was joined by two new members - Central Depository of South Korea and Tajikistan, and Euroclear as an observer. An agreement was signed between the Central Russian depository (Non-bank Financial Institution National Settlement Depository, JSC) and the Central Depository of Georgia on the opening of an NSD account for the accounting of the Georgian securities. The next AECSD conference will be held in Minsk in 2017.

INFINITUM Asset Services together with Clearstream were accepted by AECSD as an observer in 2015. Participation in the AECSD is an element of INFINITUM Asset Services development strategy and is designed to facilitate the organization of access of INFINITUM Asset Services' customers to foreign financial markets. The AECSD is a unique platform for the discussion of the latest technologies and trends in the development of infrastructure organizations. “Within the framework of the AECSD, INFINITUM Assets Services also plans to develop the exchange of experience with regards to special depositories and is ready to provide methodological assistance to the participants of the financial markets in those countries where the collective investment market is at a stage of development”, said Boris Cherkassky, the adviser to Director General.

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The Association of Eurasian Central Securities Depositories (AECSD) is the union of central depositories of the Commonwealth of Independent States (CIS), whose main objective is the development and improvement of the depository activities, the creation of a common "depository environment", and the entrance of central depositories of the CIS countries into the global settlement system for securities transactions.