One of the NDC’s key activities on international relations with a view of the development of the Azerbaijani securities marketies attracting foreign investors to the domestic market, as well as ensuring the access of local investors to the foreign markets. In this regard, NDC is regularly working on establishingmutual relations with foreign depository organizations and global custodians.

Currently, NDC is conducting bilateral negotiations with international central securities depository – Clearstream on opening a nominee account. Meanwhile, the negotiations on nominee account have also launched with a foreign custodian Raiffeisen Bank International.

Over the past period, NDC and the above-mentioned organizations arranged several online meetings and exchanged views on the rules and conditions of opening an account abroad. During the discussions, various inquiries were made about the customers of the investment companies (NDC’s members), probable trade volumes, foreign markets that investors are interested in and other relevant information.

It worth highlighting that opening of nominee accounts at the organizations such as Clearstream and Raiffeisen Bank International will provide Azerbaijani investors with access to the international markets through a more reliable platform, along with indirectly contribution to the development of the local financial market as a whole.

Furthermore, expanding operational relations with foreign depositories, including opening of NDC’s omnibus account at Turkish Central Securities Depository Merkezi Kayıt Kuruluşu (MKK) is considered as one of the main targets. In this direction, the online meetings were held between the NDC and MKK in order to discuss the issues of mutual interest.

At the same time, several measures are being taken for opening nomiee accounts at NDC by foreign depositories and custodian banks.In this regard, bilateral talks with the Georgian side on opening of a nominee account at the NDC by the Bank of Georgia have yielded positive results. As a final step, a respective agreement is expected to be concluded soon.