International Engagement

International Engagement

CDC is an active member of the following regional and international groups:

Asia-Pacific Central Securities Depository Group (ACG)

ACG logo for international engagemnet
CDC is a member of ACG, which is an international organization facilitating the exchange of information, promoting mutual assistance among member securities depositories and clearing organizations in the Asia Pacific region.

Established in 1997, ACG is a regional platform of 34 depositories and clearing organizations from 23 member countries. Today, ACG represents Asia on various international platforms such as World Forum of CSDs (WFC), International Securities Services Association (ISSA), Association of Global Custodians (AGC) and the Committee on Payment and Settlement Systems of the International Organization of Securities Commissions (CPSS-IOSCO).

In 2013, Mr. Muhammad Hanif Jakhura, CEO-CDC was elected as the Executive Committee Chairman of ACG for the term of 2014-2016. By virtue of this election, CDC was elected as the ACG Secretariat for the term of 2014-2016.

CDC has also introduced the “Risk and Recovery Management Task Force” in ACG whose objective is to promote Risk Management culture among ACG members and to develop an effective Risk Management Framework. CDC was elected as the convener of the same.

CDC hosted ACG’s 10th Annual General Meeting in 2006 in Karachi, Pakistan, which was attended by around 60 delegates from 18 regional countries.

World Forum of CSDs (WFC)

CDC in its capacity as the ACG Secretariat has also representation in WFC which is composed of the five regional CSD associations of Asia-Pacific, the Americas, Eurasia, Africa and the Middle East, and Europe.

WFC provides a collective voice on issues relevant to the various associations and their members. The Forum aims to exchange CSD industry-related information, examine issues of common interest and increase the influence and engagement on cross-regional and global developments.

Association of National Numbering Agencies (ANNA)

CDC, along with the depositories around the world, serves as a member to the Association of National Numbering Agencies (ANNA). It is the global representative of numbering agencies operating around the world where member companies regulate identification of local securities for trading locally and internationally.

The service bureau at ANNA receives daily reports and updates from member and partner numbering agencies around the world. It serves as the center point of information dissemination and collection of securities data since 2001.

For the last two decades, CDC serves as the sole National Numbering Agency (NNA) issuing ISINs (International Securities Identification Numbers) to standardize identification of local securities of trading and settlement in the country and abroad.

The purpose of NNA is to receive information regarding registration from issuers of securities and financial instruments such as shares, bonds and derivatives directly, and then to issue codes that uniquely identify these instruments. This code is called International Security Identification Number (ISIN), coined under ISO 6166 that identifies fungible and non-fungible securities from one another. As of June 2018, CDC has assigned 2,265 ISINs.

The badge of global association representing Pakistan at ANNA is one of CDC’s many achievements as it continues to maintain its leading position in the country. Collaborating with ANNA allows CDC to continue its journey of progress and innovation while continuously building state-of-the art mechanisms, products and services that are pivotal to Capital Market development.

Memorandums of Understanding (MoUs)

CDC has signed a number of Memorandums of Understanding (MoUs) with other depositories to gain benefits of cross-border cooperation, explore avenues of mutual assistance and enhance coordination. These MoUs entail cooperation in the areas of technology exchange, operational processes, mechanism for cross-border listing of securities, and exchange of information.

These include the following prestigious depositories:

  1. Abu Dhabi Securities Market (ADSM)
  2. China’s Securities Depository & Clearing Corporation (SD&C)
  3. Depository Trust & Clearing Corporation (DTCC), U.S.A.
  4. Dubai Financial Market (DFM)
  5. Indonesia Clearing & Guarantee Corporation (KPEI)
  6. Japan Securities Depository Centre (JASDEC)
  7. Korean Securities Depository (KSD)
  8. MKK Turkey
  9. Taiwan Depository & Clearing Corporation (TDCC)
  10. Thailand Securities Depository (TSD)
  11. Maldives Securities Depository (MSD)