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The Association of Eurasian Central Securities Depositories (AECSD)Introduction for the CCG meeting in Zurich, June 4, 2010

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Association Members

• AECSD was established in 2004• The Association Members 11 Depositories from 10 CIS Countries:

The National Depository Centre (Azerbaijan)Central Depository of Armenia Republican Central Securities Depository (Republic of Belarus)Georgian Central Securities DepositoryNational Securities Depository of MoldovaCentral Securities Depository (Kazakhstan)Central Depository (Kyrgyzstan) State CSD of the Republic of UzbekistanThe National Depository of UkraineDepository Clearing Company (Russian Federation)The National Depository Center (Russian Federation)

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Objectives

• Harmonization of the regulatory framework;

• Establishment of depository links among the members to support cross-

border securities transactions;

• Standardization of the technologies for the depository operation, procedures

for depository transaction processing, and rules and regulations governing

the depositories' activities;

• Adoption of international messaging standards for depository transactions

and their use in the national practice;

• Development of Electronic Document Interchange;

• Coordination of the Association members’ processes aimed to integration

into the global depository system.  

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Governance Structure

General Meeting

Chairman

SecretariatNDC, Russia

Working Groups• Depository Links• CSD Legal Issues• Development of Electronic Messaging Standards• Administration of the Association Website• Committee on CSD12 organization

The Chairman is re-elected annually by AECSD Charter. Valentina Timoshenko, Director of CSD of Belarus, currently occupies the position.

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Annual Meetings of Association Members

• Main governing AECSD’s body– approves the Association's

Annual Report;

– appoints the Association Board;

– hears reports presented by the Association's Working Groups and identifies the tasks for the next year;

– determines the venue and time for holding Annual Meetings for the next 2 years.

• In 2010 the 7th Annual General Meeting of AECSD members will take place in Minsk (Republic of Belarus) on 9-10 September 2010

• In 2011 the 8th Annual General Meeting of AECSD members will take place in Yerevan (Republic of Armenia)

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International Activities

• AECSD has gained an observer status in ECSDA, AMEDA and ACG

• AECSD participates in international conferences and forums (CSD10, Annual Russian Securities Forum, SIBOS etc.)

• AECSD has committed to host CSD12 in Russia

• AECSD organizes and holds seminars and trainings on depository and clearing services for Association members

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AECSD Members’ Services for Issuers (AECSD’s report, October 2009)

• 11 out of 12 AECSD members took part in the survey (except Kyrgyzstan)

• Some findings– Among the AECSD members,

NNA services are offered by five depositories (45 percent) All of them are fully involved in the provision of NNA services upstream to issuers. Two more of the AECSD CSDs are considering the possibility of becoming the NNAs in the future (18 percent)

– 45 percent out of the AECSD respondents (80 percent of the NNAs) are able to interact with issuers on a direct basis, and one securities depository (9 percent) can do so through intermediaries. Downstream services are mostly provided through intermediaries

• Comparison of the survey results with ECSDA and ACSDA ones shows that the key areas for AECSD further developments are as follows:

– Tax Services and Tax Reporting Services;

– General Meeting Administration Services;

– Proxy Voting Services;– NNA Services;– Official Appointed Mechanism

(issuers to disclose information (including their regular financial reports) via the central storage of corporate information;

– Automation of Receipt, Processing and Transfer of Corporate Actions Information.

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9-10 September 2010

Minsk, Belarus

7-th International Conference of AECSD

“The Role of Central Depositories in Dataware

Development of the Stock Market

Participants”.

Invitation

Welcome to Belarus

• The Republic of Belarus

• Capital City: Minsk (1.8 mln est. 2009) • Total land area: 207,600 km²• Population: 9.7 mln. (2009 est.)• GNP $48.9 billion (2009 est.)

Capital Market • Regulator: The Ministry of Finance of Belarus

www.minfin.gov.by• Regulated Market: Belarusian Currency and

Stock Exchange www.bcse.by• CSD: The Republican Central Securities

Depository www.centraldepo.by • Government debt instrument issuers:

– National Bank of Belarus www.nbrb.by– The Ministry of Finance www.minfin.gov.by

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• Central Securities Depository of the country (since 1995)

• National Numbering Agency (since 2008)• Unitarian Entity • Regulator: The Ministry of Finance of Belarus • USD 18.605 billion under custody • Located: Minsk, Belarus • www.centraldepo.by

Central Securities Depository of Belarus

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• Services: – Depositories interaction assurance– Settlement functions– Centralized securities custody– Shareholders registry services– Corporate actions – ISIN coding – Correspondent relations with domestic and

foreign depositories

Central Securities Depository of Belarus

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• Membership:

– Association of Eurasian CSDs (AECSD)

– Partner of Association of National Numbering Agencies (ANNA)

Central Securities Depository of Belarus

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• Contact Information:

– Post: Melnikajte Str., 2, Minsk 220004, Belarus – Web: www.centraldepo.by – Email: info@centraldepo.by

Central Securities Depository of Belarus

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Contact Information

• AECSD SecretaryThe National Depository Center13, bldg 1, Mashkova St., Moscow,105062, Russia Tel.: +7 (495) 232-0513 E-mail: aecsd@aecsd.com

• AECSD Website:www.aecsd.com

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Thank you for attention!