This resolution hereby establishes the Association of Eurasian Central Securities Depositories.

In terms of this Resolution:

1. "Association of Eurasian Central Securities Depositories" shall mean a form of interaction of organizations with common interests that have entered into this Resolution in the established manner;
2. "Association" is equal in meaning to the "Association of Eurasian Central Securities Depositories";
3. "Central Securities Depository" shall mean an organization that is a central securities depository in accordance with the laws of the country of its incorporation;
4. "Depository" shall mean an organization that carries out Depository activity in accordance with the laws of the country of its incorporation;
5. “Clearing House” shall mean an organization that carries out clearing activity in accordance with the laws of the country of its incorporation;
6. "Participant" shall mean an entity that has joined of the Association in any status (Member, Associate Member or Observer);
7. “Member” shall mean Central Securities Depository that has been granted the member status at the Association in accordance with this Resolution
8. “Associate Member” shall mean an entity that has been granted the associate member status at the Association in accordance with this Resolution
9. "Observer" shall mean an entity that is not a member of the Association and has been granted the observer status at the Association in accordance with this Resolution;
10. "Conference" shall mean an event organized and held under the auspices of the Association;
11. “Regular voting rights” – shall mean the ability of the Members and Associate Members to take part in taking collective decisions through appropriate bodies with its vote being accounted for in calculating the result.
12. “Consultative voting rights” – shall mean the ability of the Observer to take part in taking collective decisions through appropriate bodies with its vote being taken into consideration but not accounted for in calculating the result.
13. “Official language of the Association”  shall mean English and Russian languages

Facilitate creation of a common "post-trading environment", including:

1. unification of the regulatory framework;
2. development of optimal models for the accounting system of the securities markets of the Participant countries;
3. organization of interaction among Participants in order to provide cross-border securities settlement;
4. standardization of technology of the work of depositories, the order of depository operations, and depository documents regulating its functions. The development of unified standards of depository accounting and reporting;
5. adoption of international messaging standards for depository operations and ensure their application in national practice;
6. development of electronic data interchange (EDI);
7. support of approved integration of Participants into the global post-trading system.

In order to achieve the purpose set out in Article 3, the Association:

1. shall organize the exchange of information among the Participants;
2. shall provide support for  its Participants in the countries where the Association Participants perform activity, and in relations with international organizations;
3. shall provide research on common matters for Participants, preparation of relevant reports, development of proposals for resolving them and dissemination of the results among the Participants of the Association;
4. shall contribute to the support of bilateral and multilateral relations between the Participants;
5. shall assist individuals requesting informational, consulting, legal, practical and other assistance in the sphere of relations connected with the implementation of the objectives of the Association;
6. shall collect and disseminate information related to the activities of the Association and its Participants;
7. shall represent the interests of Participants and Associate Members in cooperation with international and national organizations;
8. take any other appropriate actions.

1. The Participants of the Association are signatories to this Resolution at the time of the establishment of the Association, as well as Participants from who have fulfilled the necessary procedures stipulated in this Resolution.
2. Any Central Securities Depository may become a member of the Association if it approves of the provisions in this Resolution.
3. A Central Securities Depository wishing to become a member of the Association shall send to the Chair of the Association a corresponding application. A Central Securities Depository is considered a member of the Association from its declaration as such at the General Meeting of the Association.
4. Each Participant shall be entitled to withdraw from membership in the Association by sending a notice to the Chair of the Association. A Participant is deemed to have withdrawn from the Association after receipt of the notice by the Chair of the Association.
5. A Participant may be expelled from the Association by other Participants taking the corresponding decision. The decision to expel a Participant shall be taken at the General Meeting of the Association by a three quarters majority vote of the Participants of the Association.
6. Any Clearing House or other financial institution engaged in depository and clearing activities according to the laws of the country of its incorporation may become an Associate Member of the Association if it approves of the provisions of this resolution.
7. The admission and expelling procedures for the Associate Members are the same as for the Members.

1. The General Meeting of the Association (hereafter - General Meeting) shall be the supreme governing body of the Association.
2. The General Meeting shall be convened annually. The date of the next Annual General Meeting  shall be announced by the organizer of the current/previous session of the Annual General Meeting. All other General Meetings are extraordinary.
3. Each Participant shall be entitled to attend the General Meeting and vote in person, by power of attorney, issued to another Participant or by absentee vote. Observers of the Association participate in the General Meeting with consultative voting rights.   The General Meeting is held as a closed working session, and it is attended by authorized representatives of the Participants, representatives of the Secretariat and leaders (representatives) of the working groups.
4. The General Meeting:
• shall take decisions that are binding for the Participants;
• shall approve the report on the activities of the Association during the year;
• shall make changes to the Resolution;
• shall define the organization that shall serve as the secretariat of the Association;
• shall establish working groups of the Association and call for their extraordinary meetings;
• shall define the tasks of the working groups of the Association;
• shall approve reports of the working groups of the Association and shall take further decisions based on the reports;
• shall stop activity of working groups of the Association;
• shall discuss matters of common interest of the Participants;
• shall decide on acceptance or expelling of Participants to the Association;
• shall fulfil other functions as appropriate, consistent with the objectives of the Association.
5. The Host of the General Meeting is the Participant exercising its activities in the country where it is staged.
6. The exact time and place of the General Meeting is determined by the Participant that took over the functions of the Host.
7. The agenda and procedure of the General Meeting is determined by the Chair of the Association based on proposals of the Secretariat and the Participants of the Association.
8. Decisions of the General Meeting are adopted by a majority of Participants with regular voting rights represented at the meeting. Each Participant represented at the General Meeting shall have one vote. Decisions of the General Meeting are binding for the Participants. The quorum for taking decisions at the General Meeting  is at least half of the total number of Members and the Associate Members of the Association combined rounded up participating in the General Meeting.
9. If a prompt decision on any issue is required, the General Meeting may be held in the form of an absentee voting. The decision to hold the meeting in the form of an absentee voting shall be made by the Chair of the Association. Notification of Participants that the General Meeting to be held in the form of absentee voting shall be submitted to Participants of the Association not less than 14 days prior to the date of holding the event. The Participants shall be given 7 days to get acquainted with the agenda and the materials of the General Meeting and to submit any potential comments.
10. Preparation and distribution of materials for the General Meeting shall be made by the Secretariat of the Association.
11. Notification of the General Meeting to be held in the form of an absentee voting shall contain:
    • the date and the deadline for the receipt of ballots, e-mail address for sending completed ballots;
    • ballots containing the wording of agenda issues put to vote and voting options expressed as "for", "against" and "abstained";
    • other necessary information for the meeting.
12. Participants of the Association whose ballots have been received by the Secretariat by e-mail not later than the date and the deadline for the receipt of ballots shall be deemed to be the ones that take part in the General Meeting held in the form of absentee voting.
13. When voting on the issues put to vote, votes shall only be counted on the issues for which only one of the possible voting options ("for", "against", "abstained") is chosen. Ballots in which more than one voting options concerning all the specified matters is chosen shall be deemed to be invalid. Should there be more than one voting option chosen for one or more of the matters specified in the ballot, votes on such matters shall not be counted.
14. Should there be two or more completed ballots found when counting the votes in which for one issue different voting options are chosen, these ballots shall be deemed to be invalid.
15. Should a ballot contain entries and amendments (including records made by hand; agenda changed/supplemented independently; comments made, etc.) on one or several issues put to vote, votes on this issue shall not be counted.
16. Recognition of a ballot to be invalid in case of voting on one, several or all the matters specified shall not be a reason to exclude the votes on the ballot when determining the presence of a quorum at the Committee’s meeting held in the form of absentee voting.
17. Electronic archive of the General Meetings of the Association materials is deposited in the Secretariat of the Association.

1. The Association does not have a budget.
2. Costs associated with convening and staging the General Meeting of Participants of the Association shall be covered by the Host of the General Meeting.
3. Costs associated with the participation of Participants in the General Meeting, working groups, are covered by the corresponding Participants.
4. By decision of the General Meeting, other sources and order of financing activities of the Association may be recommended.
5. Host may set a fee for the participation in the annual conference of the Association for persons who are not Participants of the Association.
6. Associated Members and Observers are expected to provide voluntary contributions to the activities of the Association in the form of participating in the AECSD events as sponsors or experts or by other ways deemed appropriate. Non provision of such contribution for three consequent years could be a reason for evaluating the suspension or removal of their status by the General Meeting.

1. This Resolution, as amended, shall come into force from the moment of its adoption by the General Meeting of the Association of Eurasian Central Securities Depositories on October 2, 2024. The original Resolution was signed at the First (Constituent) Conference in Moscow on December 22, 2004.
2. The provisions of this Resolution shall be binding for the Participants.
3. Proposals for amendments to this Resolution may be made by any Participant by sending a letter to the Chair. Presentation by a Participant of a proposal shall be submitted to the next General Meeting.