New method of introducing clearing system for Azerbaijan under development within TACIS


Azerbaijan, Baku, June 5 / Trend, N. Ismayilova /
Turkish ISE Settlement and Custody Inc helps the National Depository Center (NDC) to develop methods of introducing clearing system based on European standards.
The Turkish company's consultants - Alper Yakupoglu and Ilker Kuscu have been invited to the NDC with the support of TACIS program, the NDC said.
The consultants a series of trainings and workshops from May 16 to 25 and provided recommendations for development of a clearing and calculating systems of the NDC.
Over the past 2.5 years the TACIS program has been actively supporting projects of the NDC, the State Securities Committee and Baku Stock Exchange on the development of securities market infrastructure.
The NDC was established in Sept.18, 1997. Its founder and owner is the State Property Committee. After the establishment of the State Securities Committee, the NDC's shares were transferred to its property. In this regard, the NDC was reestablished by the SSC on Sept. 8, 1999 and registered by the state on Sept. 17, 1999.

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