Azerbaijan National Depository Center signs agreement with banks
Baku, Azerbaijan, May 29
By Kheyraddin Nasirzade - Trend:
A collective agreement on clearing, settlements in securities and derivative financial instruments has been signed between the National Depository Center of Azerbaijan (NDC) and AzerTurkBank OJSC, PASHA Bank OJSC, Xalq Bank OJSC and Yapi Kredi Bank Azerbaijan CJSC, Trend reports referring to the NDC.
The agreement provides for the use of a new settlement model - a settlement agent for clearing and settlement transactions with securities.
The introduction of the new model is aimed at more efficient regulation of liquidity in the market, including the implementation of settlements on the Azerbaijani securities market by commercial banks, as well as the optimization of settlement modes.
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