On 10 September 2024, National Settlement Depository (NSD) and the Central Depository Systems (Pvt) Limited (CDS) signed a Memorandum of Understanding (MoU).
The partnership between NSD and CDS is aimed at establishing a long-term cooperation that will help simplify the process of implementing business innovations and will contribute to the development of the capital markets.
The parties have agreed to promote constructive dialogue and cooperation in the field of innovations, the use of financial technologies, investor services, providing information services, training specialists of the companies through joint seminars, as well as strengthening bilateral relations.
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.
CDS noted: "The signing of this MoU with NSD is a significant step towards strengthening our relationship and fostering a more interconnected capital market ecosystem. We believe that this partnership will provide a solid foundation for future innovations and growth and pave the way to explore on new initiatives".
"The signing of this Memorandum is the first important practical step towards building infrastructural relations. This will strongly contribute to further understanding of each other markets and provide more background for development of cooperation. We perceive it will create additional value for both markets in the future," NSD added.
Information about National Settlement Depository
National Settlement Depository (NSD) has the status of a central securities depository and is part of the Moscow Exchange Group.
NSD offers its clients a wide range of services, including depository services, cash and settlement services, registration of OTC transactions (repository), information services, collateral management services, and technology services. NSD provides settlement for all on-exchange and most OTC trades.
Further information about NSD is available at www.nsd.ru/en
About CDS
The Central Depository Systems (Pvt) Ltd. (CDS) operates as a wholly-owned subsidiary of the Colombo Stock Exchange (CSE). Established in 1991, the CDS holds a license from the Securities and Exchange Commission of Sri Lanka, empowering it to function as Depository.
The CDS is the custodian for 98% of listed equity shares and 100% of listed corporate debt in the Sri Lankan capital market. Beyond its core depository functions, CDS provides a spectrum of services, including corporate solutions, management of corporate actions, compliance and risk monitoring, and client relationship management.
CDS actively participates as a member of the Asia-Pacific Central Securities Depository Group (ACG) and adheres to internationally recognized best practices in its operations.
Further information about CDS is available at www.cds.lk