International Activities

To promote greater harmonization between our operations and those of counterpart
organizations abroad, we take an enthusiastic approach to international activities, includingefforts to standardize clearing and settlement systems and structures.
Cohosting International Conferences

C SD C ONFERENCES Rotating regionally every two

NOVEMBER 2005—9TH GENERAL MEETING OF ASIA-years, each conference is hosted by local CSDs in thePACIFIC CSD GROUP In November 2005, JASDEC andchosen geographical area. Representatives from major

Japan Securities Settlement & Custody, Inc. (JSSC), co-CSDs around the world gather to hear reports on issues

hosted the 9th General Meeting of the Asia-Pacific CSD

common to every market and pertinent developments

Group, an association of central securities depositories

that characterize the business. The conferences include

in the Asia-Pacific region, in Tokyo. The meeting, which

various components, including a general panel discus-drew representatives from 26 organizations in 15 coun-sion, and provide opportunities for participants totries, provided participants with the chance to offer sta-exchange information and ideas. The 8th Conference intus reports on the implementation of respective clearing

New York in April 2005 drew more than 160 represen-and settlement systems and highlight tasks still to betatives from 64 countries.

addressed. The venue was an ideal place for information

Signing Memorandums ofUnderstanding

exchange and prompted lively discussions among participants on several topics, including approaches to new
business, technical responses to practical application ofsystems, and measures to deal with settlement risk.

April 2007—9 T H C O N F E R E N C E O F
Central Securities Depositories In

Through memorandums of understanding with CSDs
abroad, JASDEC is able to undertake information and personnel exchanges with counterpart organizations and offer
training sessions of mutual benefit to all participants.
August 2003:

April 2007, JASDEC, Korea Securities Depository andU.S. Depository Trust and Clearing Corporation(DTCC)

host the 9th Conference of Central Securities

November 2004: Taiwan Securities Central Depository Co., Ltd.
(currently Taiwan Depository & Clearing
Corporation (TDCC))

Depositories, or CSD9, in Seoul, South Korea. The event,February 2005: Korea Securities Depository (KSD)

Taiwan Depository & Clearing Corporation, will jointly

which runs for three days, from April 11 to 13, will

June 2005:

China Securities Depository and Clearing
Corporation Limited (CSD&C)

bring representatives from central securities depositories
around the world together and focus attention on joint

Tackling Standardization

tasks hinging on harmonization and globalization trends

Standardization of securities clearing and settlement isin the world’s financial and capital markets.

an important topic in every country, paralleling global-

PLANNED DISCUSSION TOPICS AT CSD9*ization of financial and capital markets. JASDEC always● General panel discussion: “Harmonization and Globalization”

addresses system reform with changing standardization

Focus on interoperability vs. consolidation, CSD governance and the Hague Securities Convention.

in other countries in mind.
Specifically, we identify developments, such as● Independent sessions:recommendations issued by the Group of Thirty (G30),

1. Financing Cross-Border Trading:Current Issues and Future Assignments for DVP
2. Tax Harmonization:
Future Opportunities for International Tax Treaties
3. Corporate Action Processing:
Current Issues and Sources of New Business for CSDs
4. Business Continuity Plans in Risk Management:
Current Issues and Future Challenges—with Case Studies
5. Challenging New Business Opportunities for CSDs

the International Securities Services Association (ISSA)
and a joint report by the Committee on Payment andSettlement Systems (CPSS) and the International
Organization of Securities Commissions (IOSCO). We
constantly monitor our own systems and form decisions
on the direction of new services and improvements toexisting services, based on prevailing trends abroad.

*Please note that these topics are only some of the subjects that are being considered for discussion and that the actual agenda may
be significantly different.

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