CSDI Maintains Seat as ACG Executive Committee for Third Consecutive Term

Central Securities Depository of Iran has been re-elected as a member of the Executive Committee of the Asia-Pacific Central Securities Depository Group (ACG) on 30 April, 2024.

Considering the tight schedule and agenda of the Annual General Assembly meeting due to be held in September 2024 in Almaty, Kazakhstan, the ACG Secretariat proposed to conduct the voting virtually beforehand in a secure, and efficient way.

The ACG Executive Committee consists of nine members, six of whom are Task Force conveners and the remaining three members are to be elected by voting among the thirty-five members who are eligible to vote.

The elections met the quorum qualifications as specified in the ACG charter, with the participation of more than 70% of the members with voting rights.

As a result, Central Securities Depository of Iran secured 16 votes to retain its seat at the Executive Committee for another three-year term.

Hong Kong Securities Clearing Company Limited (HKSCC) gained 18 and Kazakhstan’s Central Securities Depository JSC (KCSD) 16 votes respectively as other two candidates who joined the EC by getting enough votes.

Central Securities Depository of Iran joined the Asia-Pacific CSD Group in 2013. In 2016, during the 20th ACG Annual General Assembly meeting in Tehran, the CSDI was elected an EC member for the first time.

During the 22nd ACG GA meeting in Sri Lanka back in 2018, the CSDI was elected to serve as the Vice Chair with the majority of the votes, hence joining the Board of the prestigious World Forum of CSDs (WFC) in 2019.

Asia Pacific Central Securities Depository Group (ACG) is the premier regional industry association for central securities depositories (CSDs), central counterparties (CCPs) and clearing houses in the APAC region. Founded in November 1997, ACG aims at facilitating the exchange of information and promoting mutual assistance among members.

The group consist of 35 CSDs representing 24 countries. ACG is also one of the five members of the World Forum of CSDs (WFC), which is the global body of Depositories, representing all the five continents.

The Executive committee of ACG is comprising of 9 elite depositories of the region, representing countries like China, Japan, South Korea, India and Pakistan.