Korea Securities Depository, Euroclear Bank sign MOU
Euroclear Bank, the Brussels based international central securities depository (ICSD) has signed a Memorandum of Understanding (MOU) with Korea Securities Depository (KSD). Also in attendance at the MOU signing was Korea’s Ministry of Economy and Finance.
The aim of this collaboration is to create appropriate local market conditions to support a Euroclearable, cross-border link granting international investors efficient post trade access to Korea Treasury Bonds.
Myongho Rhee, Chairman & Chief Executive Officer, Korea Securities Depository said:
“Today’s MOU is a way to reaffirm our commitment to the implementation of omnibus accounts for Korea Treasury Bonds and Monetary Stabilization Bonds to signal our intention to accelerate our collaboration. Through this MOU, Euroclear, a globally recognized financial market infrastructure, and KSD, a leading CSD in Asia, will be able to achieve a higher level of relationship and build a robust partnership. I feel excited and look forward to the future we will create together.”
Peter Sneyers, Chief Executive Officer, Euroclear Bank commented:
“We are delighted to have signed this MOU with Korea Securities Depository. Korea’s capital markets have made great strides recently to encourage foreign investment most notably the implementation of the new Tax Revision Bill for non-residents and foreign corporations which signifies a true commitment towards opening a cross-border link. As a financial market infrastructure, we will continue to support and work closely with the market in its journey to include Korea Treasury Bonds into the World Global Bond Index.”