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Mumbai, Feb. 14 National Securities Depository Ltd (NSDL) and Brussels-based depository Euroclear have signed an MoU to build close co-operation between the two central securities depositories.

The depositories are exploring how best to promote cross-border investment, including the possibility of establishing a cross-border operational link, a joint statement from NSDL and Euroclear said.

“The depth and breadth of Euroclear’s experience in both domestic and cross-border transactions is of interest to NSDL and our clients,” Mr Gagan Rai, Executive Director, NSDL said. The MoU also aims at exchanging information on operational statistics and market trends, as well as opportunities to strengthen the efficiency, stability and reliability of their respective depository systems.

“Together, we will discover ways to further improve our business operations and service offerings to clients interested in the Indian capital markets,” Mr Ignace R. Combes, Deputy Chief Executive Officer, Euroclear SA/NV said.

Euroclear is the world’s largest provider of domestic and cross-border settlement and related services for bond, equity, derivative and fund transactions.

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