Azerbaijan's NDC and Clearstream discuss creation of settlement mechanisms

The National Depository Center (NDC) of Azerbaijan has held discussions with Clearstream, one of the world's leading global depository and clearing organizations, on establishing mutual settlement mechanisms, Report informs via NDC.

In this context, representatives of both institutions met to explore cooperation.

The meeting was attended by Elchin Alizada, Chairman of the Supervisory Board of the NDC, and Mushfig Ahmadli, Advisor to the Chairman of the Management Board. Clearstream was represented by Jan Willems, Clearstream's Head of Global Markets Products.

Discussions focused on the potential opening of nominee custodian accounts by the NDC at Clearstream and vice versa, as well as prospects for mutual cooperation in depository services and the integration of Azerbaijan's capital market into international financial markets.

This initiative is considered a significant step toward enabling Clearstream's broad base of international investors to access the Azerbaijani securities market efficiently. At the same time, it would allow Azerbaijan's capital markets to benefit from Clearstream's extensive global infrastructure.

Both parties agreed to continue cooperation in order to define future areas of joint activity and explore technical capabilities in greater detail.