National Settlement Depository and «Central Depository» CJSC (Kyrgyz Republic) have concluded an agreement to open a foreign nominee account with NSD.
A year ago, NSD, as Russia’s central securities depository (CSD), opened an account with the Central Depository of Kyrgyzstan. Therefore, the opening of an analogous account by the Central Depository of Kyrgyzstan means that the companies have launched a bilateral interaction channel, which will more efficiently conduct cross border operations with both countries’ securities. Within the framework of this agreement, Central Depository of Kyrgyzstan customers get access to the entire range of services provided by NSD in respect to rights for Russian and foreign issuers’ securities, transactions with securities and services associated with the execution of rights for securities.
This step is aimed at building a correspondent network that unites the CSDs that form the Association of Eurasian Central Securities Depositories (AECSD) and providing investors the services of mutual access to national financial markets.
Currently, the NSD has accounts with the CSDs and the ICSDs of eight countries, including seven bilateral accounts: with Euroclear Bank S.A./N.V., Clearstream Banking S.A., KACD (The Republic of Kazakhstan), the Republican Unitary Enterprise “Republican Central Securities Depository” (the Republic of Belarus), NDU (Ukraine), the CDA (The Republic of Armenia), and «Central Depository» CJSC (Kyrgyz Republic). NSD has also opened an account with NDC (The Republic of Azerbaijan).