At the end of December 2021, a Memorandum of Cooperation was signed between the National Depository of Ukraine (NDU) and the Central Depository of Armenia (CDA), in particular, the Memorandum provides for cooperation on the issues of the new application of Armenian Depository – CDA Online, as well as electronic voting.
The main purpose of the Memorandum is to define a further algorithm of cooperation between depositories in the framework of joint efforts to develop new functions of depository software, and also to create an additional platform for sharing experiences between the two countries.
“We have been cooperating with NDU for many years and supporting their active innovation policy. It is very important for us to strengthen cooperation with our Ukrainian partners, as we mutually support technological modernization, exchange of knowledge and experience,” – added Vahan Stepanyan, Chief Executive Officer of the Central Depository of Armenia.
Oleksii Yudin, Chairman of the NDU Board, noted that this Memorandum between the Depositaries of Ukraine and Armenia is an important step for the development and digitalization of Ukraine’s capital markets.
“Cooperation with the Central Depository is aimed at implementation of mutual interest of the two depositories in strengthening correspondent relations and creating new opportunities and services for market participants in both Ukraine and Armenia.” – Oleksii Yudin comments.
In November 2020, NDU opened an account with the Central Depository of Armenia, which
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. Having built a “link” with the CDA opened the possibility of safe and clear accounting of foreign securities for Ukrainian financial institutions and investors.