AECSD-AMEDA Istanbul Summit shaping CSD future

The Association of Eurasian Central Securities Depositories (AECSD) and the Africa and Middle East Depositories Association (AMEDA) convened in Istanbul on Thursday for a summit themed “Building the Future of the Capital Markets in Eurasia, Africa, and the Middle East: The Role of CSDs.”

Dr. Ekrem Arıkan, CEO and Board Member of Merkezi Kayıt Kuruluşu A.Ş. (MKK), emphasised that transitioning from physical records to digital systems has been one of the most transformative innovations in the financial industry.

In his opening address at the AECSD-AMEDA Istanbul Summit 2024, Dr. Arıkan highlighted MKK’s history and its collaborations with other nations since its establishment in 2001.

He also expressed optimism about the summit’s impact on regional economic growth, announcing that Istanbul will host the Asia Pacific MKK Group Annual Meeting in 2026. He emphasised the importance of creating stronger ties between the two regions through the AECSD.

Dr. Arıkan noted that MKK became Turkey’s official trade depository in 2015 and expanded its responsibilities in 2021 to include non-public companies.

Meanwhile, Abdulla Jaffar ABDIN, President of AMEDA, Vice-Chairman of the World Forum of CSDs (WFC), and COO of Bahrain Clear, stressed the significance of the conference in bringing together key stakeholders to shape the future of capital markets, with a particular focus on CSDs. He highlighted the crucial role CSDs play in ensuring market efficiency, security, and transparency, and noted that such conferences foster innovation by providing a platform for idea exchange.

In her closing note, Riham G. KHEDR, Secretary General of Africa & Middle East Depositories Association (AMEDA), praised the summit’s organization and the participation of key stakeholders from the Eurasian, African, and Middle East regions. She noted the importance of the event in fostering collaboration and exploring opportunities for market development.

The summit featured discussions on a range of topics relevant to the future of capital markets, including the role of central securities depositories in the digital age, market integration, and the adoption of international best practices. Khedr emphasized the value of these discussions in providing policymakers with a roadmap for achieving these goals.

Khedr also expressed gratitude for the opportunity to connect with colleagues and share experiences with young professionals attending the summit. She concluded by expressing hope for future events that would continue to foster collaboration and innovation in capital markets.

On the other hand, Mr. Arman MELKUMYAN, Secretary General of the Association of Eurasian Central Securities Depositories (AECSD) expressed gratitude to Merkezi Kayit Kurulusu A.S. (MKK) for hosting the event and to the sponsors and attendees for their support. He noted that the summit served as a platform to discuss the challenges and opportunities facing the securities depository industry in the Eurasian region.

In his closing speech, he said that the AECSD, founded in 2001, now unites 16 central depositories from 15 countries.

Melkumyan emphasised the association’s commitment to fostering cooperation among its members and promoting the adoption of international standards. He also highlighted the importance of investing in new technologies, such as DLT and blockchain, to meet the evolving needs of the industry.

Looking ahead, Melkumyan announced that the AECSD would continue to focus on enhancing its effectiveness and delivering tangible results to its members. This includes ongoing reforms to the association’s resolution and the pursuit of new partnerships and collaborations.

The AECSD remains dedicated to its mission of “evolution through diversity and success through amity and cooperation.” As the association enters its third decade, it is poised to play a vital role in shaping the future of the securities depository industry in the Eurasian region.

AMEDA was founded on April 27, 2005, and held its inaugural meeting in the CSD 8th conference. This non-profit organisation comprises Central Securities Depositories and Clearing Houses in Africa and the Middle East. AMEDA was established as regional and professional is to support mutual cooperation between its members and achieve its main objectives. It now has now 40 members from more than 30 countries.