MoU news from Russian and Serbian CSDs

Russia’s National Settlement Depository and Serbia’s Central Securities Depository and Clearing House have signed a memorandum of understanding.

They have agreed to share experience and information and to cooperate in the sphere of depository and settlement operations, operational interactions using correspondent accounts, corporate actions processing and information services. In addition, the MoU commits both CSDs to collaborate within regional organizations such as the Association of Eurasian Central Securities Depositories (AECSD) and the European Central Securities Depositories Association (ECSDA).

The Belgrade-headquartered Central Securities Depository and Clearing House was founded in 2001 as part of the National Bank of Serbia. Its functions included servicing governmental debt securities denominated in foreign currencies (Federal Foreign Currency Bonds). To date, the Central Securities Depository and Clearing House is an independent institution servicing all types of securities issued in the territory of Serbia. As of the end of 2014, the value of assets under custody with the CSD was EUR 39.7 billion.