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On opening of an account in The Bank of New York Mellon

20 November 2023

In the framework of implementation of the Development Strategy of Central Securities Depository JSC (hereinafter referred to as the Central Securities Depository, KCSD), in part of extension of CSD-to-CSD and correspondence relations with international depositories and global custodians, KCSD informs on successful completion of the process of establishment of correspondence relations with Bank of New York Mellon (hereinafter referred to as BNYM).

The account of the Central Securities Depository was opened in BNYM on November 13, 2023, upon completion of all procedures required for establishment of correspondence relations.

With the opening of the account in BNYM, KCSD participants have the opportunity to get direct access to the US market.

Furthermore, the opening of the account in BNYM will provide the KCSD clients with the following options:
- transfer of assets of the participants to BNYM will allow to reduce costs of market intermediaries for safekeeping of assets and conduction of transactions.
- participants will have access to wider range of securities of US issuers, the access to which has not been previously provided by such higher-level recordkeeping organizations as Euroclear and Clearstream. 
- this account will open access to new foreign markets, for example, markets of Hong Kong and Mainland China, and this extends the choice range for KCSD clients.

"Commencement of cooperation with BNYM is a great opportunity for our clients to extend horizons in the choice of investment instruments. We are sure that our new service will have positive impact on businesses of our clients and satisfy need of Kazakhstan investors in new financial instruments", - noted Adil Mukhamejanov, Chairman of the KCSD Management Board.

For reference:

The Central Securities Depository is key infrastructural organization of financial market of the Republic of Kazakhstan in the field of post-trade services, providing services for its clients for 25 years. The Central Securities Depository offers its clients depository, registrar and information services, as well as bank account maintenance and payment agent services. The Central Securities Depository is the authorized depository of the National Bank, Ministry of Finance and local executive bodies of the Republic of Kazakhstan.