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Conference of the Association of Eurasian Central Securities Depositories “Post-Trading Infrastructure in AECSD Region”

20-22 September, 2023
Dushanbe city, Republic of Tajikistan


CJSC “Central Depository”

Target audience

Representatives of professional securities market players, international organizations and government bodies


PJSC "Moscow Exchange MICEX-RTS". Gold sponsor

Cbonds, Central Securities Depository JSC (Kazakhstan). Silver sponsor

INFINITUM Asset Services, Prime Invest, CASE (Tajikistan). Bronze sponsor


  Reception at Airport, Hotel Transfer
18:30 Transfer to Buhoro Lounge from Hyatt Regency Hotel
19:00 – 22:00 Welcome Dinner, Buhoro Lounge (Rudaki Prospect 102)

Day 1 (21.09.2023)

09:30 – 10:00 Registration and welcoming coffee
10:00 – 10:30 Opening Remarks:
  1. Ministry of Finance (Tajikistan), Machidi Yusuf Khairullo, Deputy Minister of Finance
  2. Securities Market Development Agency and the Special Registrar (Tajikistan), Abdurakhmonzoda Nigina Shukhrat, Director
  3. AECSD – Denis Buryakov, AECSD Secretariat
  4. Central Depository (Tajikistan), Umeda Rakhmonova, Chairman of the Board
10:30 – 12:00 Plenary Session: Post-Trading Infrastructure in the AECSD Region

Moderator: Adil Mukhamejanov, Chairman of the Management Board, Central Securities Depository JSC (Kazakhstan)

  1. Özkan İlkay Kızıltoprak, Executive Vice President, MKK (Turkiye)
  2. Eugenia Klimova, Head of Custody, Raiffeisenbank (Russia)
  3. Oliver Gueris, Chief Operating Officer, AIX (Kazakhstan)
  4. Maria Cheremisina, Executive Director for Clearing, NCC (Russia)


  • Efficiency of the post-trading infrastructure
  • Trending post-trading models in the AECSD
  • Functions and Risks
  • Post-trading integration in the AECSD
12:00 – 12:20 Photo session
12:20 – 14:00 Lunch
14:00 – 14:40 Panel Discussion: Tajikistan Financial Market. Perspectives for Development

Moderator: Umeda Rahmonova, Director, CASE (Tajikistan)

  1. Boris Cherkasskiy, Advisor to the Chairman, INFINITUM (Russia)
  2. Alisher Shernazarov, Chairman of the Board, CASE
  3. Cadriddin Negmatov, Director, Prime Invest


  • The current state of the Tajikistan financial market
  • Plans for development
  • Hidden potential
  • Attracting foreign and domestic investors
  • Possible barriers and ways for their mitigation
14:40 – 16:00 Presentation Session (~15 minutes per speaker)
  1. «Public Bonds» Alexei Fedorov, Senior Managing Director for Development and Client Relations, NSD (Russia)
  2. «Informational Platform Cbonds — Bonds and other products» Sergey Lyalin, General Director, Cbonds
  3. «KYC/AML Compliance in Depository Sector» Max Lerner, Managing Director, Global Head Sanctions Compliance and Anti-Bribery & Corruption Compliance,  State Street Corporation
  4. «CSD Role as a Single Registrar» Natalia Gorushina, Managing Director, Central Securities Depository JSC (Kazakhstan)
  5. «Trade Reposiroty of Türkiye», Setenay Yaganoglu, Deputy Manager, MKK (Türkiye)
16:00 – 16:30 MoU Signing and Other Official Ceremonies
16:30 – 17:30 Network coffee/Free time
17:30 Guests assemble near Hyatt Regency Hotel
17:30 – 19:30 Dushanbe Sightseeing  
19:30 – 23:00 Gala Dinner, Shahrisabs Restaurant (Rahimova st. 17)

Day 2 (22.09.2023)

09:00 – 09:30 Registration for AGM and Welcoming Coffee
09:30 – 12:30 AECSD Annual General Meeting (for the guests not participating in the AGM – City tour)
12:30 Guests assemble near Hyatt Regency Hotel for the country excursion
12:30 – 13:30 A trip to the country excursion (Gissar)
13:30 – 15:30 Lunch Sharshara Restaurant
15:30 – 17:30 Cultural Program
17:30 – 18:00 Country Recreation Zone Detour
18:00 – 21:00 Dinner
21:00 – 22:00 Returning to the Hyatt Regency Hotel

Evening 22.09.2023 – 23.09.2023

  Hotel-Airport Transfers


Hyatt Regency Dushanbe
734026, Tajikistan, Dushanbe, 26/1 Ismoili Somoni Ave.

Accommodation options:

Hotels 5*:

Hotels 4*:

Hotels 3*:

Visa requirements:

The website of the Main Consular Department of the Ministry of Foreign Affairs of the Republic of Tajikistan provides information on the procedure for entry and exit to the territory of the Republic of Tajikistan:

If you have any questions or suggestions, please contact the following contacts:

AECSD Secretariat



On the accommodation in Tajikistan:

Umeda Rahmanova
Тел. +992 904 53 19 75

Dilorom Zikriyaeva
Тел. +992 900 64 03 70