Central Securities Depository Of IRAN

The second meeting of the 5th Executive Committee of the Asia-Pacific CSD Group (ACG) took place in Hong Kong on Tuesday 23 July 2024.

Chief Executive Officer of Central Securities Depository of Iran, Mohammad Baghestani, International Relations Director and Corporate Secretary, Siavash Azimi were present at the meeting.

Executive Committee meetings are held every month and generally last for about 1~2 hours virtually.

But this time, in the run-up to the ACG Chair and Vice-Chair elections the EC members decided to meet in-person to prep-up for the elections and approve the previous EC meeting minutes.

During the meeting, the members discussed and approved the minutes of the 18th meeting of the 4th and the 1st meeting of the 5th Executive Committee.

Election procedures for the Chair and Vice-Chair according to the Chart, including voting procedures, the ACG Funding Plan 2024 i.e. matters regarding financial support for CTS-24 and GM-26 events as well as member profile design, etc. and the official website security issues were top on the agenda.

The Executive Committee is the governing body that oversees the affairs of ACG. The Executive Committee formulates questions of policy, receives reports of Task Forces and considers their recommendations, and provides advice and approval to the President-Elect regarding the ultimate decisions.

The ACG Executive Committee encompasses 6 Task Forces in the fields of "Exchange of Information," "New Business Initiative," "Technical," "Legal," "Risk & Recovery Management" and "Investor Services" convened by Japan Securities Depository Center (JASDEC), Korea Securities Depository (KSD), National Securities Depository Limited (NSDL), China Securities Depository and Clearing Corporation (CSDC), Central Depository Company of Pakistan (CDCPL) and Taiwan Depository & Clearing Corporation (TDCC) respectively.

The meeting took place on the sidelines of the 24th ACG Cross Training Seminar due to be held 24-26 July 2024.

Hosted by Hong Kong Exchanges and Clearing Limited (HKEX), the theme of the event is “Advancing Financial Infrastructure Development and Cooperation in the Asia-Pacific Region”.

The seminar is gathering experts from central securities depositories to share insights, foster collaboration and discuss the latest advancements in financial products and services, technology, legal frameworks, and risk management.

Selected as its vice-chair in 2018, the CSDI committed itself to improve the ACG's overall operations on top of strengthening exchanges with other CSD groups. The CSDI has been elected as an Executive Committee member since 2016 and was re-elected to maintain it seat at the Committee for the third consecutive term on 31 April 2024.

The ACG meeting has been held once a year since its inaugural meeting in Hong Kong in 1997, offering a venue for securities and depository experts in Asia-Pacific to examine their achievements and establish future goals and strategies. The ACG is one of five regional central securities depository groups within the World Forum of CSDs.

The CSDI has been a member of the ACG since 2012. Central Securities Depository of Iran hosted the 20th ACG General Meeting in 2016 and the 16th Cross Training Seminar in Tehran.

It should be noted that the next Annual General Meeting of ACG will be held in Almaty, Kazakhstan in September 2024. The event is planned to be attended by top officials and representatives of about 38 depositories, exchanges and clearing organizations from different countries, including China, India, Iran, Japan, Mongolia, Nepal, New Zealand, Pakistan, the Philippines, South Korea, Sri Lanka, Thailand, Uzbekistan, Vietnam and other countries of the Asia-Pacific region.

Release Date: 7/23/2024

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