Clearstream and Vietnam Securities Depository sign Memorandum of Understanding
- Memorandum of Understanding signed
- Clearstream and Vietnam Securities Depository to assess further partnership
Today, Clearstream, a leading International Central Securities Depository (ICSD) and Vietnam Securities Depository (VSD), the sole CSD that provides post-trade services for Vietnam securities market, signed a Memorandum of Understanding (MoU) to assess a connection between the Vietnamese securities market and Clearstream’s international post-trade network. The MoU was signed by Philippe Seyll, CEO Clearstream Banking S.A., and VSD Chairman, Son Nguyen, in the presence of the Chargé d’affaires a.i. of the Embassy of Luxembourg to Vietnam, Marc de Bourcy and the Chairman of Vietnam State Securities Commission, Tran Van Dung.
The aim is to help foster the development of the Vietnamese financial market, promote cross-border investment and explore opportunities of cooperation in both settlement and depository services.
Jan Willems, Head of Global Markets at Clearstream, commented: “We look forward to exploring a partnership with VSD. The Memorandum of Understanding is in line with our Asia strategy: having been active in the Asian markets for more than 30 years now, Clearstream has constantly been developing its footprint and extending its market network in the region.”
“The MoU signing has marked a closer relationship between Clearstream and VSD. We value this partnership and look forward to working closely together for the benefits of VSD as well as the entire Vietnamese financial market,” said Duong Ngoc Tuan, Senior Managing Director of VSD.