International
Relationships
JASDEC conducts research on overseas trends andengages in frequent information exchanges with overseas
institutions as essential parts of its ongoing efforts to deal
with the myriad issues that affect the securities market
infrastructure such as the globalization of financial andcapital markets and the global tightening of regulations,and als o t o cont r i b u t e t o t h e d e v e l o p me n t of t heinfrastructure of securities market in Japan and other partsof the world. We participate in regular CSD meetings,
seminars and international conferences and maintain active
exchange programs with institutions with which we havesigned memorandums of understanding ( MOUs ).

ACG ( Asia-Pacific Central Securities Depository Group )and operation of Cross Training Seminar ( CTS ) every year
for the purpose of information exchange at the working
level. JASDEC engages in planning and operation as amember of the Executive Committee and the convener ofthe Exchange of Information Task Forces.

The ACG, currently represented by 34 institutions, wasestablished in November 1997 as a forum for informationexchange and mutual cooperation among CSDs in theAsia-Pacific region. In the ACG, JASDEC, as an Executive
Committee member, participate in the administration ofACG General Meeting ( AGM ). We also engage in planning

WFC ( World Forum of CSDs )The WFC was created in April 2011 at the 11th Conferenceof CSDs, after agreement was reached among leadersof the world’s five regional CSD associations. The WFC
is administered by a 10-member board made up of two
representatives from each regional association. JASDEC
participates on behalf of the ACG with the Central Depository
Company of Pakistan Limited ( CDCPL ).
The WFC has an active program of initiatives, including theSingle Disclosure Project, the aim of which is to create adatabase of CSD information by ensuring unified andefficient disclosure of Principles for Financial Market
Infrastructures ( PFMI ) by the Committee on Payments andSettlement System of the BIS and the International Organizationof Securities Commissions ( CPSS-IOSCO ), and response tothe questionnaire of the Association of Global Custodians( AGC ).

- 31 -MOUs on Information Exchange and Mutual Cooperationwith Overseas CSDs, etc.
JASDEC has signed MOUs on the exchange of informationand mutual cooperation with 18 overseas CSDs and CCPs.
With MOU partners, we are actively implementing initiatives,
including exchanges of information, cross-training programs

involving trainee exchanges, and support for CSDs ofemerging nations.

The Asian Bond Markets Initiative ( ABMI )With ASEAN+3 Finance Ministers and the Central Bank
Governors’ Meeting positioned as its foremost body, theABMI established four Task Forces. Under the third Task
Force, “Improvement of the Regulatory Framework,” theASEAN+3 Bond Market Forum ( ABMF ) was organized.
JASDEC participates in the ABMF as a representative ofJapan, and leads as a co-vice chair of Sub-Forum 2 under

ABMF, in which we discuss the standardization of thecross-border settlement process as a key topic.
Moreover, JASDEC, as a Japanese CSD, attends theCross-Border Settlement Infrastructure Forum ( CSIF ) under
Task Force 4, which is composed of each central bank andCSDs.

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International Relationships

Major International Activities
in FY 2015
April 13-14, 2015

August 18-19, 2015

• JASDEC participated in the 18th Meeting of the ABMF,
in which the opinions of participating institutions weresummarized to be compiled into the Phase 3 Report.

• JASDEC participated in the 19th meeting of theABMF and the 6th Meeting of the CSIF. The action
plan beyond Phase 3 was discussed.

May 3-4, 2015
• JASDEC contributed to the publication of the ABMF
Phase 3 Report and the CSIF Progress Report. The
summary was submitted at the ADB Annual Meetingand the jointly held ASEAN+3 Finance Ministers andCentral Bank Governors’ Meeting.

2015.4

567

8May 20-22, 2015
• JASDEC participated in the 8th Board Meeting of the WFC held in Cancun,Mexico. The WFC elected a new chairman and vice chairman. It was decided
that the WFC 2017 will be held in November 2017 in Hong Kong.
• JASDEC participated in the WFC 2015, also held in Cancun, Mexico.

May 12-13, 2015
• JASDEC participated in the 17th ACG Cross-Training Seminarin Colombo, Sri Lanka. As convener of the Exchange of Information
Task Force, JASDEC executed sessions introducing 43 of thelatest projects of participating institutions, and developed reports
upon conclusion of the Seminar. JASDEC also assisted the hostinstitution Central Depository Systems ( Pvt.) Limited ( CDS ) inexecution of the event. In addition, JASDEC gave a presentation on
the mechanism of its Book-entry Transfer System for Investment
Trusts.
- 33 -9October 11-16, 2015

December 14-16, 2015

• JASDEC participated in the 9th Board Meeting of the WFC
held in Singapore. Among several issues, the status of theSingle Disclosure Project, which aims to create a world
database of CSD information by ensuring unified disclosureof the PFMI and response to the questionnaire from theAssociation of Global Custodians was updated.

• At the request from Vietnam Securities Depository( VSD ), with which JASDEC has signed a MOU,JASDEC held a seminar on Japan’s investment trust
market geared toward the Depository and Vietnamese
financial institutions.

• JASDEC participated in Sibos2015 in Singapore. As theco-vice chair of ABMF’s Sub-Forum 2, JASDEC madepresentations in individual sessions introducing a wide
range of activitiesof ABMF and CSIF.

• JASDEC also participated in the 20th Meeting of the ABMF
and the 7th Meeting of the CSIF.

101112

2016.1

2

3

January 25-27, 2016
• JASDEC participated in the 21st meeting of the ABMF and the8th meeting of the CSIF. Opinions from participating institutions
were collected in order to develop Progress Report to bepresented to the coming G7 Finance Ministers and Central Bank
Governors’ Meeting in May. In addition, validation of the crossboarder taxation was initiated.

November 4-5, 2015
• At the 19th AGM in Taipei, Taiwan, JASDEC planned and hosted panel discussions under the theme of CSD’s implementationof the PFMI, and explained its own information disclosure and risk management frameworks. Inauguration ceremony washeld by Korea Securities Depository ( KSD ) to commemorate the establishment of the Asia Fund Standardization Forum, aforum to study the standardization of post-trade processing of investment fund cross-border transactions. During theceremony, 12 member CSDs, including JASDEC, signed a statement of participation.

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