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XVII Conference of the Association of Eurasian Central Securities Depositories “Reforming Financial Markets”

27–28 October, 2021
The Conference is held online. Web-platform: Zoom



Central Depository of Armenia (CDA)


27–28 October, 2021


The Conference is held online

Web-platform: Zoom

Target audience

Representatives of professional participants in the securities market, international organizations and government bodies.


The conference will be attended by participants and observers of AECSD, representatives of government authorities and financial institutions.


NSD. Gold sponsor

National Settlement Depository (NSD), a part of the Moscow Exchange Group, is the central depository of the Russian Federation. It is a key component of the Russian financial infrastructure

NSD offers a wide range of services to its clients, including depository services, cash and settlement services, OTC transaction registration (repository services), information services, collateral management services, and technological services. NSD settles on-exchange trades and conducts a major part of OTC settlements; it services Russian and foreign securities. NSD services securities issued by companies representing more than 40 countries.

The total value of assets in custody amounted to RUB 69.5 trln. The total value of non-Russian securities in custody at NSD amounted to RUB 8.7 trln. Since the launch of trade reporting, the Trade Repository registered 250 mln contracts with the total value of RUB 3,500 trln. The annual average volume of payments going through the NSD Payment System exceeds RUB 320 trln.

Central Securities Depository JSC. Silver sponsor

The Central Securities Depository (CSD) is the key infrastructure organization of Kazakhstan's financial market in the area of post-trading services. CSD offers its clients depository, registrar and information services as well as bank account and payment agent services.

CSD development is focused on improving the convenience of client services, expanding the range of products and implementing IT transformation to promote further development of Kazakhstan's stock market. Participation in the global community of post-trading organizations, many years' client experience and a well established system of interacting with foreign partners ensure strengthening of CSD's positions while integrating with international capital markets.

Percival. Bronze sponsor

Percival, founded in 1986, is a software provider for CSDs, Registras and Stock Exchanges. Back then Percival started developing systems for share registration and quickly advanced by 1990 to their first CSD solution implementation project.

Percival has continued to improve and extended their CSD products; as technology advances, Percival takes advantages of the latest trends and tools to re-engineer their product line. DEPEND represents the latest generation of CSD product in this line, and REGARD is the latest product for share registration and transfer agents (RTAs). Recently Percival has extended their product portfolio and developed trading system REVENUE which went live in 2021.

For more information please visit:

Day 1 (27.10.2021)

(Yerevan Time)
27.10.2021 (Wednesday)
11.30 – 11.45 Time to connect to Zoom
11.45 – 11.50 Welcome remarks by the AECSD Secretary (organizational issues)
Mr. Arman Melkumyan, AECSD Secretary
11.50 – 12.00 Welcome remarks by the AECSD Chairman, welcome video
Mr. Vahan Stepanyan, AECSD Chairman, CEO of Central Depository of Armenia
12.00 – 13.00

Panel Discussion

Reforming the financial markets: diversifying the CSD business. Entering new segments

One of the important steps for a developing CSD is looking for various opportunities to diversify its business, as depository services are not the most gainful sphere on their own. But due to the many factors including the fact that currently CSD business seems to be overregulated in many countries we face numerous obstacles and challenges. How to communicate with the Regulator? What are the possible ways to prevent the loss of the key experts? What new sectors to choose and what to do in order to keep up with the modern technology trends? These are the questions to be addressed during the Panel discussion.

Moderator: Mr. Hayk Yeganyan, CEO, Armenia Securities Exchange

Discussion participants:

  1. Mr. Byungkeun Go
    Director, Global Business Department, Korea Securities Depository
  2. Mr. Vishal Gajjar
    Vice-President, National Settlement Depository Limited (India)
  3. Ms. Maria Krasnova
    First Deputy CEO, National Settlement Depository
  4. Mr. Philippe Laurency
    Managing Director and Head of Commercial, Euroclear
13.00 – 13.20 Coffee break
  • Video postcard and sponsors’ materials demonstration in the main Zoom meeting room
  • Guest are welcome to visit demonstration of sponsors’ presentations of services in separate Zoom rooms
13.20 – 14.40

Moderator: Arman Melkumyan, AECSD Secretary


  • Blockchain technology: How is the world of capital markets changing?
    Professor Monica Singer, Consensys South Africa Lead, Board member of SAICA and Accounting Blockchain Coalition
  • SWIFT securities strategy
    Matthieu de Heering, Director, Capital Markets Strategy – SWIFT
  • Digitalization of assets and its impact on CSD business
    Mr. Woochol Shin, Head of Innovative Financial Services Team
  • Digitalization of services. New perspectives. CDA Online
    Levon Klekchyan, Chief Depository Services Officer, CDA
14.40 – 14.45 Group Photo
14.45 – 14.50 Closing of Day 1
Mr. Arman Melkumyan, AECSD Secretary
14.50 – 15.10 Virtual Cultural Program
Ms. Lilit Babayan, Chief Marketing and Communications Officer
15.10 – 16.00

Small Talks Rooms
Separate rooms, each moderated by representative(s) of AECSD members (CSD of Armenia, CSD of Belarus, NSDL of India, CSD of Kazakhstan, CSD of Russia, CSD of Ukraine, CSD of Korea).


16.00 Zoom Closing

Day 2 (28.10.2021)

(Yerevan Time)
28.10.2021 (Thursday)
11.40 – 11.55 Time to connect to Zoom
11.55 – 12.00 Welcome remarks by the AECSD Secretary (organizational issues)
Mr. Arman Melkumyan, AECSD Secretary
12.00 – 13.00

Panel Discussion

Interaction among AECSD members. Barriers and Prospects

The Association of Eurasian Central Securities  Depositories was launched 20 years ago, and it is time to assess what has been done during this time and what prospects await the participants in the future. Within this framework, we want to give a voice to both the participants of the AECSD and representatives of other regional associations in order to get the best idea of how it is better to arrange the work of such an organization in the modern world.  

Moderator: Boris Cherkasskiy
Advisor to the Director General of the INFINITUM Asset Services

Discussion participants:

  1. Oleksii Yudin
    CEO, National Depository of Ukraine
  2. Adil Mukhamejanov
    CEO, CSD of Kazakhstan
  3. Jan Williams
    Head of Product Management Global Markets, Clearstream
  4. Vahan Stepanyan
    AECSD Chairman, CEO of Central Depository of Armenia
  5. Dr. DAI,
    Chairman of the Asia Pacific Group of CSDs
13.00 – 13.20  Coffee break
  • Video postcard and sponsors’ materials demonstration in the main Zoom meeting room
  • Guest are welcome to visit demonstration of sponsored materials and presentation of services in separate Zoom rooms
13.20 – 14.40

Moderator: Mr. Arman Melkumyan, AECSD Secretary


  • Harmonization of reforming banking and the securities markets in order to ensure financial stability
    Mr. Alexey Krasinsky, Deputy Director,  Department of Financial Policy,  Eurasian Economic Commission
  • ESG (Enviromental, Social and Corporate Governance)
    Mr. Konstantin Saroyan, Secretary General, FEAS
  • Implementation of a funded pension system as one of the key reforms in Armenia in recent years
    Mr. Tigran Petrosyan, Chief Pension Services Officer/Deputy CEO
  • Reforming as a factor in the development of the collective investment industry. More details about the industry.
    Mr. Junwoo Chang, Head of Asset Management Planning Team  
14.40 – 14.50 Closing Remarks
Mr. Vahan Stepanyan, AECSD Chairman, CEO of Central Depository of Armenia
14.50 – 16.00 Small Talks Rooms
2 networking rooms for all participants
16.00 Zoom Closing