ArmInfo. On March 30, Ani Makaryan, CEO of the Central Depository of Armenia (CDA), and Sherali Abdujabbarov, CEO the Central Securities Depository of Uzbekistan (UzCSD), have signed a cooperation agreement, under which the CDA will open a foreign nominee account at the UzCSD. This will enable the registration and safekeeping of securities, as well as the servicing of transactions and the execution of corporate actions in accordance with international standards.
This step marks a new stage of cooperation aimed at deepening market integration and enhancing infrastructural connectivity, according to a statement issued by CDA. The agreement signed between the Central Depository of Armenia and Uzbek Securities Depository (CDA) opens new opportunities for effective cooperation between the financial markets of Armenia and Uzbekistan, ensuring a higher level of mutual cooperation, trust, and opportunities for the free movement of capital in the region.
The objectives of this cooperation are: - Ensure the secure safekeeping of securities and the registration of rights through accounts opened with UzCSD; - Simplify and make cross-border transactions more efficient; - Expand market participants' access to Uzbekistan's capital market; - Promote investment flows and financial cooperation between the two countries.
Ani Makaryan, Ceo of the Central Depository of Armenia, noted: "The establishment of such operational links for the Central Depository of Armenia is an important step within the framework of our international integration strategy. Opening a nominee depository account with UzCSD will allow our market participants to access new markets more easily and benefit from expanded investment opportunities. This is an opportunity for both local investors and our global and regional partners/investors. Uzbekistan, as a rapidly developing market, has significant potential to attract capital flows from Europe and the Middle East. At the same time, the Central Depository of Armenia (CDA) positions itself as a bridge between various regions, including Uzbekistan. I would like to thank our partners for their willingness to cooperate, high professionalism, and shared vision. We highly value our future successful and long-term cooperation."
It should be noted that the Central Depository of Armenia (CDA), in accordance with international standards, offers its partners a full range of depository services using advanced software solutions. By overseeing clearing and settlement, asset and registry maintenance, and the administration of funded pension funds, CDA helps Armenian and international investors conduct their day-to-day operations more efficiently. In partnership with specialized international organizations, CDA also ensures the highest level of cross-border settlements and services, linking the Armenian and international capital markets. The Central Depository of Armenia holds ISO 9001:2015 and ISO/IEC 27001:2013 certificates, confirming the quality and security of its management systems. The sole owner of the Central Depository of Armenia OJSC is the Armenian Stock Exchange.
