NSD and KSD agree cooperation deal
03 May 2012 Moscow and Seoul
Image: Shutterstock
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.”
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.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
