Clearstream and Vietnam Securities Depository sign MoU
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Clearstream and Vietnam Securities Depository sign MoU 20 January 2020Luxembourg Reporter: Maddie Saghir
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Clearstream has signed a memorandum of understanding (MoU) with Vietnam Securities Depository (VSD), the sole central securities depository (CSD) that provides post-trade services for Vietnam securities market.
The agreement is set to help assess a connection between the Vietnamese securities market and Clearstream’s international post-trade network.
Meanwhile, its aim is to help foster the development of the Vietnamese financial market, promote cross-border investment and explore opportunities of cooperation in both settlement and depository services.
Clearstream Banking S.A.’s CEO Philippe Seyll signed the agreement with VSD chairman, Son Nguyen.
It was signed in the presence of the Chargé d’affaires a.i. of the Embassy of Luxembourg to Vietnam, Marc de Bourcy and the chairperson of Vietnam State Securities Commission, Tran Van Dung.
Jan Willems, head of global markets at Clearstream, commented: “We look forward to exploring a partnership with VSD. The MoU is in line with our Asia strategy: having been active in the Asian markets for more than 30 years now, Clearstream has constantly been developing its footprint and extending its market network in the region.”
Duong Ngoc Tuan, senior managing director of VSD, added: “The MoU signing has marked a closer relationship between Clearstream and VSD. We value this partnership and look forward to working closely together for the benefits of VSD as well as the entire Vietnamese financial market.”
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