The Korean chairman of Asia-Pacific CSD Group, Lee Byungrhae, announced the CSDI appointment during the meeting, the CSDI reported on its website.
The World Forum of CSDs (WFC) includes five regional CSD associations (Asia Pacific CSD Group (ACG), Americas Central Securities Depositories Association (ACSDA), Africa & Middle East Depositories (AECSD), Association of Eurasian Central Securities Depositories (AECSD)), Association (AMEDA) and the European Central Securities Depositories Association (ECSDA).
WFC holds a conference every two years to provide a platform for leaders of central securities depositories and clearing houses, regulators, and international banks from across the globe to share information, discuss issues of common interest and take stock of interregional and global developments, according to Financial Tribune.
Last November the CSDI was elected vice chairman of ACG during the 22nd ACG general meeting hosted by the Central Depository Systems of Sri Lanka in Colombo. CSDI joined the ACG in 2013.
CSDI considers the promotion as an achievement for the capital market in Iran. Delineating the capacity of Iran’s capital market, Hossein Fahimi, the CSDI chief, said 10 million trading codes have been issued for investors in Iran’s capital market.
“In addition, there is a comprehensive mechanism in place that integrates information about trade and investors” he said.
The Asia-Pacific Central Securities Depository Group (ACG) was formed in November 1997 as an informal international organization to help facilitate the exchange of information and promote assistance among member securities depositories and clearing organizations in the Asia- Pacific region.
During the meeting, Iran put forward a proposal to create an Information Technology platform to help facilitate information exchange and boost collaboration among members.
Describing the initiative as “ambitious”, the ACG chief noted "it could also be offered to the WFC if it succeeds so that all depositories can benefit."
Membership of over 30 countries, including China, South Korea, Australia, New Zealand, Japan, Indonesia, Malaysia, India, Bangladesh, Hong Kong, Kazakhstan, Maldives, Mongolia, Singapore, the Philippines, Sri Lanka, Taiwan, Thailand, Uzbekista, etc., has made ACG one of the credible regional organizations.