OREANDA-NEWS. January 29, 2009. Republican Unitary Entity Republican Central Securities Depository of the Republic of Belarus (RCSD) and Closed Joint-Stock Company Depository Clearing Company (DCC), Russian Federation signed an agreement on establishment of correspondent relations on January 28.

Under the signed agreement RCSD has opened for DCC an interdepository account for accounting and safekeeping of Belarusian securities held by DCC Participants. This will enable Russian securities market participants who are DCC clients to make OTC transactions with Belarusian securities, including trades via RTS Board informational system of OAO RTS Stock Exchange within RTS Global for securities safekept on accounts with DCC.

RCSD and DCC consider signing of the agreement on correspondent relations as further development of cooperation within the Association of Eurasian Central Securities Depositories (AECSD) and the next step to establish relations between the Russian and Belarusian securities markets. The parties express confidence that the cooperation will be successful and will facilitate the development of the stock markets of the Republic of Belarus and the Russian Federation

Setting-up of DCC's correspondent account with RCSD will promote expansion of international relations of both depositories.

Director of RCSD Valentina Timoshenko reckons that opening of a correspondent account for DCC can attract Russian investors to the Belarusian market.

According to DCC President Mikhail Laufer, opening of a correspondent account with RCSD is another stage in DCC's project, which involves development of foreign securities servicing.