The chairman of the Africa & Middle East Depositories Association (AMEDA) announced on Thursday that Prague, Czech Republic, will be the venue for the forthcoming activities of the World Forum of Central Securities Depositories (WFC), slated for May 24 to 26.
The forum is expected to draw the participation of over 135 central depository and registry companies from across the globe. Each regional association will have a General Meeting to discuss specific developments pertinent to their respective regions.
The World Forum of CSDs comprises five regional associations representing central depository and registry companies worldwide, including the Asia-Pacific CSD Group (ACG), the Americas’ Central Securities Depositories Association (ACSDA), the Association of Eurasian Central Securities Depositories (AECSD), AMEDA, and the European Central Securities Depositories Association (ECSDA).
Abdulla Abdin, president of AMEDA and vice president of WFC, emphasized the global forum’s importance in keeping pace with recent market and system changes in central depository and registry activities. He highlighted challenges facing global registry and depository companies, particularly the lack of awareness regarding their vital role.
The conference will focus on several key pillars, including facilitating cross-border investment flows, lessons learned and challenges ahead in FMI DLT Pilot Programs, settlement efficiency, and the global view and systemic risk in post-trade services.
Additionally, AMEDA members will convene for a general meeting during the conference to discuss organizational matters and issues pertinent to its members. This meeting aims to bolster AMEDA’s role in Africa and the Middle East in collaboration with the WFC.
The establishment of a global forum for Central Depository companies was initiated by AMEDA during the CSD international conference in South Africa in 2011, according to Riham Khedr, secretary general of AMEDA. Khedr noted that the conference transitioned to the WFC conference during the same meeting, with AMEDA assuming the first term of the Presidency of the global forum in 2011.
The forum aims to ensure the representation of Central Depository companies in international financial organizations such as the World Bank, CPSS-IOSCO, ISSA, AGC, and Thomas Murray, Khedr added. In conclusion, the WFC’s tasks include assisting Central Depository companies (CSDs) by issuing recommendations and encouraging potential investors to invest in promising markets.
