Armenia Securities Exchange Posted
The National Depository of Ukraine (NDU) has opened a foreign nominee account with the Central Depository of Armenia.
The NDU account with the Central Depository of Armenia provides Ukrainian investors with access to the Armenian securities market, and holders of Armenian securities – with the opportunity to account their securities in their own accounts in the depository system of Ukraine.
“Cooperation with the Armenian Depository opens new opportunities for conducting transactions with securities of foreign issuers, thus expanding the range of services for our clients. – comments Maryna Adamovska, Member of the Management Board of PJSC “NDU”. – Having built a “link” with the Armenian Depository, we offer an additional service for safe and clear accounting of foreign securities for Ukrainian financial institutions and investors. In the future, we are ready to consider the possibility of establishing foreign nominee relations with central depositories of other countries, in order to expand the alternative opportunities of our clients. “
In addition, the “link” with the Central Depository of Armenia provides an opportunity to study the experience of our colleagues, the range of services they provide to their clients, as well as the technologies used.
Direct foreign nominee relations between the central depositories of different countries are standard international practice, and the network of such relations is quite extensive throughout the world. The CD’s direct foreign nominee relationship with the Central Depository of Armenia is an additional link similar to the existing link with the international depository Clearstream. As a result, the ultimate owner benefits from, for example, storing securities in the central depository of their country of origin, cheaper than storing through a link in CBL (Clearstream Banking Luxembourg).