Prague, Czech Republic will host the activities of the World Forum of Central Securities Depositories (WFC), which is scheduled to take place from 24 to 26 next May, said chairman of Africa & Middle East Depositories Association (AMEDA) on Thursday.
The forum will gather the participation of more than 135 central depository and registry companies around the world, and witness a GM for each regional association to discuss the special developments for each region.
World Forum of CSDs is made up of five regional associations of central depository and registry companies represented by the Asia-Pacific CSD Group (ACG), and the Americas’ Central Securities Depositories Association (ACSDA).
In addition to that, the Association of Eurasian Central Securities Depositories (AECSD), Africa & Middle East Depositories Association (AMEDA), and the European Central Securities Depositories Association (ECSDA).
Abdulla Abdin, president of AMEDA and vice president of WFC, stressed the importance of the global forum to keep pace with the nature of the recent changes taking place in various markets and systems for central depository and registry activities.
WFC will also discuss the nature of the challenges facing global registry and depository companies, the most prominent of which is the lack of awareness of their importance and vital role, Abdin added.
Abdin added the global conference focuses on several main pillars, including facilitating cross-border investment flows, FMI DLT Pilot Programs: Lessons Learned and Challenges Ahead, Settlement Efficiency, Global view and systemic risk in post-trade services.
Furthermore, he pointed out that the activities will also witness the holding of AMEDA members for a general meeting on the sidelines of the conference, to discuss some issues related to the organization and its members.
The general meeting will be held within the framework of aiming to consolidate the role of AMEDA in Africa and the Middle East, in cooperation with the WFC.
The idea of establishing a global forum for Central Depository companies was AMEDA’s and was presented during the activities of the CSD international conference held in South Africa in 2011, said Riham Khedr, secretary general of AMEDA.
Khedr added, that during the same meeting, CSD conference changed to WFC conference. Moreover, it was agreed that the AMEDA would take over the first term of the Presidency of the global forum in 2011.
The forum aims to ensure the presence of Central Depository companies in the international financial organisations such as the World Bank, CPSS-IOSCO, ISSA, AGC, and Thomas Murray, Khedr stated.
In conclusion, the tasks of the World Forum of Central Securities Depositories (WFC) to assist Central Depository companies (CSDs) in all issuing recommendations and to encourage potential investors to invest in promising members markets.