Caspian Energy (CE): What role does the National Depositary Center play in the securities’ market?

Fariz Azizov, Chairman of the Board, National Depository Center of Azerbaijan: The National Depository Center (NDC) is one of the leading financial institutes of the country and holds the central position in the infrastructure of the stock market of Azerbaijan. As a depositary organization NDC is engaged in security lodging, registration of ownership transfer for the securities and their transactions after auctions. NDC has also been performing clearing operations for exchange deals since September 3. All this was preceded by the project that lasted for 6 months and envisaged transaction of all post-trading services to NDC. In this way, NDC of Azerbaijan centralized the whole range of post-trading services (the NDC had been engaged in centralized depository and registrar operations before that) by completing the development of the National Depository of the securities market of the country. 

The concentration of post-trading services in a single organization is promising business-processes optimization whereupon all the users of the organized market of securities will be offered a product range of the unified depository. This product range will certainly include depositary services as well as new products developed in accordance with the strategy of unification.