Central securities depository starts activity in Moldova

Chisinau, 31 July /MOLDPRES/ – Today, the Central Securities Depository (DCU) starts its activity. The new institution is responsible for registration, recording and settlement of securities issued by Moldovan entities.

According to the BNM's information and media communication service, at initial stage, DCU will operate with securities issued by the Ministry of Finance (MF) and financial instruments of BNM. The operations will be performed by entities that have the capacity to participate in DCU. These include BNM, MF and 11 licenced banks of Moldova. Subsequently, as of 31 December 2018, the single central depository will serve corporate securities and investment firms.

The establishment of the Single Central Depository is one of the key reforms of the Moldovan financial market, carried out under IMF programme with support of United States Agency for International Development (USAID). The new record and settlement mechanism offered by DCU will ensure a high level of transparency, security and efficiency in performing securities transactions. The single central depository's business model is based on international standards and practices in settlement systems, and national DCU legislation transposes applicable EU regulations.