Authorization
E-mail
Password
Subscribe to news
Name
E-mail
Subscribe to magazine
Name
E-mail
Subscribe to our newsletter Subscribe to the "Digit" magazine
08.06.20

NSD and TDCC sign a Memorandum of Understanding

On June 4, 2020, the National Settlement Depository (NSD) and the Taiwan Depository and Clearing Corporation (TDCC) signed a Memorandum of Understanding.

The partnership between NSD and TDCC is aimed at forming a long-term cooperation that will help simplify the process of implementing business innovations and will contribute to the development of the capital markets of Taiwan and Russia.

The parties have agreed to support constructive dialogue and cooperation in the field of electronic voting, the use of financial technologies, servicing investors, providing information services, training specialists of companies through joint seminars, as well as strengthening bilateral ties.

NSD actively develops cooperation with foreign central securities depositories, both in a bilateral format and within the framework of regional associations. Both organizations pay considerable attention to the development of high-tech services for market participants, which will allow cooperation in this area to achieve a synergistic effect.

Sherman Lin, Chairman & CEO of TDCC, noted: "The signing of this MOU is the symbol of a new beginning for both sides to work together in the future. The value and the purpose of the MOU will be to utilize the two entities’ advantages and expertise of core businesses to drive innovation and respond to the opportunities and challenges due to the technological impacts on the market infrastructure."

“This memorandum’s signing is the first important practical step towards building infrastructural channels of interaction between our markets. Judging upon our experience in this area there is a significant demand for such form of cooperation among market participants. In the future it will create additional value for investors of both markets.” – added Eddie Astanin, Chairman of NSD’s Executive Board.

About TDCC

Established in October 1989, Taiwan Depository and Clearing Corporation (TDCC) is an essential infrastructure of Taiwan financial markets, providing registration, custody, settlement, issuers’ services and information services for equities, fixed income securities, mutual funds, etc. TDCC maintains 18 million investor accounts under around 6,500 participant accounts, with a total market value of USD $1.7 trillion for all types of securities under custody as of May 31, 2020.

As the central securities depository (CSD) in Taiwan, TDCC has demonstrated the ability to deliver quality services and kept a steady growth of business while forging ahead with the competent authorities to create a secured and efficient market environment over the past 30 years.

In addition to post-trade core services, TDCC has been developing business diversification and innovative financial services. Looking into the future, TDCC remains committed to promoting financial digitization and globalization to better serve Taiwan’s capital market.

Further information about TDCC is available at www.tdcc.com.tw

Russia
Print version


Return to all news