Macedonia CSD Future Outlook

Thursday, 26 January 2012

Future outlook 2012


The following general goals have guided the Macedonian CSD in the fulfilment of its purpose. It is proposed that they remain unchanged in the 2012  plan period:

  • Sustain protection of  investors, especially small shareholders,  from fraudulent, abusive, and unfair practices in Macedonian securities markets
  • foster the development of fair, efficient, dynamic and competitive securities markets that will provide investment opportunities and access to capital for the benefit of Macedonians in all sectors
  • maintain an efficient, effective, responsive and enforceable regulatory framework that serves and protects market participants in all jurisdictions of Macedonia and balances national harmonization with regional flexibility
  • ensure that Macedonia will participate actively and effectively in international regulatory arrangements and organizations


The primary thrusts in fulfilment of these goals have been largely focused on building both legal framework and technological systems. Progress has been achieved in developing common rules, policies, approaches and systems covering of  the following issues:

  • safety and efficiency;
  • right of everybody that has submitted a request and is eligible according to the prescribed requirements to become participant in the Depository operations;
  • equality and parity of the participants in the Depository operations and beneficiaries of its services;
  • regular notification of the participants in the operations of the Depository and the beneficiaries of its services;
  • solving the disputes between the Depository and the participants, issuers and holders, as well as between the participants in an efficient manner and by agreement