The Single Central Securities Depository of Moldova became a full member of the European Central Securities Depositories Association (ECSDA)
The National Bank of Moldova announced this, noting that this prestigious international organization unites the most important players in the financial instruments transfer market. NBM Governor Octavian Armasu noted that the receipt by the Single Central Securities Depository of membership in ECSDA is recognition of the NBM's efforts in recent years and the results achieved in the field of securities settlement. “The NBM strives to create a solid financial infrastructure that will support and stimulate investment. In previous years, we created the Single Central Securities Depository and expanded its capabilities. Thanks to these actions, any transfer of financial instruments within the country, be it government securities, stocks or other instruments, is carried out in a safe environment,” said Octavian Armasu. In turn, the director of the Single Central Securities Depository of Moldova, Alexandru Sava, said that in the coming years Moldova’s Single Central Securities Depository intends to become a part of the international capital market. “This is an ambitious and challenging goal, but it is necessary if we want to increase the volume of foreign investment. The presence in ECSDA is an important step towards this direction. This allows us to adopt the technical standards and risk management mechanisms used when transferring financial instruments between players from different countries. This will be an important signal to foreign investors that the Moldovan market is safe for investment,” he said. The European Central Securities Depositories Association (ECSDA) was founded in 1997 in Madrid and currently has 41 members - Central Securities Depositories in Austria, Belgium, Denmark, Great Britain, France, Germany, Italy, Romania, the Baltic States and other countries. It is an arena where European depositories can exchange professional standards, know-how and best practices in the field of financial instrument settlement. The joining of the Single Central Securities Depository to ECSDA is one of the recommendations of the experts of the USAID project "Transparency of the Financial Sector in Moldova" within the framework of the roadmap for the integration of the local market into the international capital market. // 16.08.2021 - InfoMarket.
