Business Daily from THE HINDU group of publications
Friday, May 23, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, May 23, 2008 ePaper | Mobile/PDA Version | Audio |
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Markets
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Financial Services Our Bureau Mumbai, May 21 National depositories NSDL and CDSL have signed memorandum of understanding (MoU) with the Japan Securities Depository Centre (Jasdec). Jasdec provides the securities depository and book-entry transfer services for stocks, convertible bonds, REITs and other securities, and the book-entry transfer services for commercial papers, corporate bonds, investment trusts, and ETFs. Mr Gagan Rai, MD & CEO of NSDL, said: “The depth and breadth of JASDEC’s experience in both domestic and cross-border transactions is of interest to NSDL and our clients and we value the co-operative relationship.” Jasdec and CDSL will establish a mechanism, whereby staff of both sides could meet on a regular basis to explore improvement opportunities and to exchange information on business operating models and securities market developments, said a joint release issued here. Significant Contributions
“I hope that the signing of MoU between CDSL and JASDEC will bring enormous benefit to the two central securities depositories and make significant contributions to the development of the securities market in the two countries,” said Mr Yoshinobu Takeuchi, President & CEO of JASDEC. “I see the MoU as a step towards developing closer ties with JASDEC and a catalyst to a long and productive business relationship,” said Mr Vijay V. Raut, CDSL Managing Director & CEO. More Stories on : Financial Services | Alliances & Joint Ventures
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