NSD and KSD agree cooperation deal 03 May 2012Moscow and Seoul Reporter: Mark Dugdale
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Russia’s National Settlement Depository (NSD) has signed a memorandum of understanding with the Korea Securities Depository (KSD).
The MoU will contribute to improving the health of the countries’ financial markets and promote cross border investment. It will also enable the organisations to look at cooperating in depository and settlement operations, as well as establishing an operation linkage.
The NSD and the KSD have agreed to begin working on information exchange and organising training and technical support that will develop the fund industries in Russia and Korea.
Kyung Dong Kim, who is chairman and CEO of the KSD, said: “This is the first step towards a partnership for mutual cooperation on the development of depository and settlement infrastructures and advancement of the asset management industry.”
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