NSD and CDA sign foreign nominee agreement 04 February 2014Moscow Reporter: Daniel Jackson
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National Settlement Depository and the Central Depository of Armenia have concluded a central securities depository (CSD) foreign nominee account agreement.
Pursuant to the agreement, NSD will maintain records for securities held by clients of the foreign nominees, maintain CSD foreign nominee accounts, conduct operations on such accounts and render other services related to the execution of rights for securities.
NSD has already opened an account with the Central Depository of Armenia. The bilateral link between two depositories will allow them to perform cross-border operations in a more efficient manner.
Currently, NSD has accounts opened with the CSDs/international CSDs in eight countries, including six bilateral links with Euroclear, Clearstream, KACD and two links opened by NSD with National Depository Centre of Azerbaijan and CJSC Central Depository.
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