The ATHEXCSD and the Central Securities Depository of Iran (CSDI) signed a Memorandum of Understanding (MOU) on Monday in which they committed to facilitate the development of projects and channels of communication in the post-trading area to allow for the promotion of cross-border trading activities, listings and technical links and to foster a developing relationship.
This MOU, which was signed by the CEO of the ATHEXCSD, Mr. Socrates Lazaridis, and the CEO of the Central Securities Depository of Iran, Mr. Mohammadreza Mohseni, at a ceremony during the 9th FINEX2016 International Exhibition of Exchange, Bank & Insurance in Tehran on July 11, marks the first formal engagement between the two CSDs.
During the event, Mr. Mohseni expressed satisfaction on behalf of CSDI, as the sole registry and depository institution as well as clearing house of the whole Iranian capital market, to sign that MOU with ATHEX Group which would mark the first step in developing technical collaboration in post-trade projects between the two companies and between Iran`s capital market and that of the European Union as well. He said “we believe that any efforts in facilitating the infrastructure for establishment and following up a well-founded agreement will be led to a promising future for both markets.
Mr. Lazaridis of ATHEXCSD for his part echoed the statements by Mr. Mohseni and went on to say that “We are really pleased to sign this MOU today. He said we initiated the cooperation with the CSDI at a time when preparing the requirements for harmonization have turned out to be a must, since capital markets are rapidly moving towards globalization. Mr. Lzaridis said that in a period that post-trade procedures have gained significance, cooperation between the CSDs would pave the way for better supporting cross-border activities. “ This agreement is giving an excellent prospect to both CSDs to explore opportunities for joint projects on topics of mutual interest that will increase our capital markets visibility and improve the capabilities and services of our CSDs, “ he said.
Under this MoU, the two CSDs agreed to explore cooperation possibilities in various fields, such as post -trade support of listed Exchange Traded Funds in the two markets, market post-trading linkage and other sectors of mutual interest.
About Athens Exchange Group
Athens Exchange Group supports the operation of the Greek capital market. The parent company, Hellenic Exchanges - Athens Stock Exchange and its 100% subsidiaries ATHEXClear and ATHEXCSD operate the organized cash and derivatives markets, carry out trade clearing, settlement and registration of securities, provide comprehensive IT solutions to the Greek capital market, and promote the development of capital markets culture in Greece.
In a period that the role of stock markets in exploring alternative ways of financing business, at a European level, is significantly enhanced, the Athens Exchange Group has taken a series of initiatives to highlight the attractiveness of the Greek Capital Market and the Greek companies to the international investment community and expand the variety of investment opportunities by developing a secure, stable and accessible market environment. The reliability in operation, the transparency, the trust in relationships, the corporate governance know how and the harmonization with international standards are the prerequisites of the competitive Greek capital market.
Central securities depository of Iran (CSDI) was established in 2005 as a public joint stock company. Central Securities Depository of Iran (CSDI) is the sole registry entity in the Iranian capital market using the hybrid registry system with a fully dematerialized book entry system.
Enjoying a history of 46 years, the Iranian capital market was demutualized in 2005 and as a result, CSDI was legally segregated from the rest of the capital market and commenced to work as an independent and separate entity. It is the central registrar and clearing house for all the exchanges in Iran including Tehran Stock Exchange (TSE), Iran Farabourse (IFB), Iran Mercantile Exchange (IME), and Iran Energy Exchange (IEE).
It takes over the registry, clearing, and settlement issues related to equity, Islamic securities (Sukuk), derivatives, energy contracts, electricity, mercantile products by means of a full-fashioned registry system and multi-currency (USD, IRR, Euro).
CSDI provides thriving and secured financial investment infrastructures to contribute to the development of a fair and transparent capital market both nationwide and worldwide by guaranteeing security and efficiency in the capital market and safekeeping investors’ financial properties.
Release Date: 7/11/2016