BAKU, Azerbaijan, July 2. The National Depository Center of Azerbaijan (NDC) has formed a new architecture for opening depo accounts, Trend reports.
According to the information, the new architecture allows investment companies of NDC to remotely open depo accounts for their clients.
Within the framework of the new architecture, the clients of investment companies will be able to remotely open depo accounts via API (Application Programming Interface). NDC's member investment firms that provide this infrastructure will automatically create depo accounts after filling in the required client-related cells. The practice of remote account opening by investment companies is defined in line with the experience of Türkiye, Germany, the UK, and other advanced countries.
"This new architecture will contribute to the development of the capital market by providing a favorable environment for investors, which will make opening depo accounts faster and easier, increase customer satisfaction, and enable more efficient investment activities," the information notes.