BAKU, Azerbaijan, April 13. Depository
transactions with Kazakhstan will be fully automated, Chairman of
the Board of Azerbaijan's National Depository Center, Elchin
Alizade, told Trend
in an exclusive interview.
According to him, the main institutional and legal steps within
the framework of cooperation with Kazakhstan’s central securities
depository have already been completed
He noted that mutual accounts have been opened between the two
depositories.
"This creates the technical capacity for the transfer and
custody of securities. Currently, some operations may be performed
manually. At the same time, technical work is continuing to ensure
direct connectivity and integration between the depositories. The
goal is to fully automate securities transactions and execute them
in accordance with international standards via the SWIFT platform.
The aim is to complete this technical work by the end of this year
and transition operations from a manual process to a fully
automated one,” the official emphasized.
