InternationalRelationships

国際関係
JASDEC is active year-round in international events to guidethe rational development of a global settlement infrastructure.
Research on overseas trends and information sharing are key
elements of a leadership role.
38

Annual Report 2012

Memorandums of understanding (MOUs) with overseas CSDs
As of the end of March 2012, JASDEC had signed MOUs with a total of 13 CSDs. We are strengthening our cooperative relationships
with our MOU partners through active initiatives.

International Relationships

Mutual cooperation with overseas institutions
JASDEC regards research on overseas trends and timely,

World Forum of CSDs (WFC), we also play a key role inaccurate information exchange with overseas institutions

administration. Through these activities, we aim to contributeas essential to its ongoing efforts to deal with the manyto the development of securities market infrastructure inissues that affect securities market infrastructure, such as

Japan and worldwide while also raising the profile of JASDEC.

the globalization of financial and capital markets and theWe are actively developing relationships with organizations

rapid growth of markets in Asia. We actively participate

with which we have signed memorandums of understanding

in international forums such as regular CSD meetings(MOUs), and we provide various forms of assistance inand seminars. And, by acting as secretariat for the Asia-response to requests from CSDs of emerging nations.

Pacific Central Securities Depository Group (ACG) and theAsia-Pacific Central Securities Depository Groupof the Technical Task Force and China Securities Depository

information exchange and mutual cooperation among CSDsand Clearing Corporation Limited as convenor of the Legalin the Asia-Pacific region. In December 2010, an Executive

Task Force. Central Depository Company of Pakistan Limited,

Committee was established at the 14th general meeting to plan

Singapore Exchange Limited and Vietnam Securities Depositoryand organize activities from medium- to long-term perspectives.

were also elected through a general vote. JASDEC Chairman

JASDEC was elected to the Executive Committee member as

Takeuchi became the first ACG Executive Committee Chairman.

convenor of the Exchange of Information Task Force, Korea

JASDEC is committed to demonstrating leadership in ACG

Securities Depository as convenor of the New Business Initiativeactivities as Secretariat, and is making efforts to further invigorate

Task Force, National Securities Depository Limited as convenor

ACG.

World Forum of CSDs
The WFC was created in April 2011 at the 11th Conference ofby a 10-member board made up of chairs and vice-chairs fromCSDs (CSD11), after agreement was reached among leaders ofeach regional association. Mr. Mohamed Abdel Salam of Misr

the world’s five regional CSD associations. The WFC continues

for Central Clearing, Depository & Registry (MCDR), Egypt,

the collaborative activities undertaken by regional associations

representing AMEDA (Africa and Middle East Depositories

under the CSD Contact Group during the previous four years. ItsAssociation) was elected as the Forum’s Chairman, withfunction is to strengthen the influence of CSDs and disseminate

Chairman Takeuchi of JASDEC as Vice-Chairman. JASDEC istheir shared views as a forum of information exchange andacting as the secretariat.

debate on issues that affect all CSDs. The Forum is administered

MOUs on information exchange and mutual cooperation with overseas CSDs
As one element of our efforts to build collaborative relationships

are strengthening our cooperative relationships with our MOU

with CSDs around the world, JASDEC has been following apartners through active initiatives, including regular exchanges ofpolicy of signing MOUs on the exchange of information andinformation, cross-training programs involving trainee exchanges

mutual cooperation with overseas CSDs. As of the end of Marchand support for CSDs of emerging nations.

2012, JASDEC had signed MOUs with a total of 13 CSDs. We39

Annual Report 2012

The ACG was established in November 1997 as a forum forMajor International Activities in Fiscal 2011

The 11th Conference of CSDs was held in Cape Town, SouthAfrica, hosted by the Africa and Middle East Depositories
Association (AMEDA). JASDEC gave a presentation

meeting under the MOU with SD&C
(China Securities Depository and Clearing

on the theme of “The nature of partnerships amongst
CSDs,” focusing in particular on information exchange andcooperation among CSDs and CCPs, and collaboration
initiatives in the Asia-Pacific region, such as ABMI and theASEAN Trading Link. Speaking as a panelist in a panelCorporation Limited) and KSD (KoreaSecurities Depository) held in Hong Kong.
The meeting provided an opportunity
for exchanges of views among senior

JASDEC signed a memorandum

management executives and information

discussion on the theme “The future of financial market
infrastructure and the effect on CSDs,” Chairman Takeuchi
discussed the standardization of CSD operations, theconcentration of information, shareholder structures andcorporate governance and other aspects and pointed out theof understanding with the Russia’s

exchange among working-level officials.

CSD, NSD (National Settlement

JASDEC also gave presentations on its
response to the Great East Japan Earthquakeand other topics.

Depository) to establish a basisof cooperation and sharingof information towards the11th Conference of CSDs

First trilateral meeting for
information exchange with
China’s SD&C and Korea’s
KSD

MOU with Russia’s
NSD

April 13–15

July 8September 18

pros and cons in conducting risk management.
Conference participants approved the establishment of theWorld Forum of CSDs (WFC).

40

JASDEC participated in the first trilateral

Annual Report 20122011.4567

development of a closer working
relationship.

89

September 12

September 14

September 14-15

Symposium commemorating
150 years of Japan-Germanyfriendship

JASDEC Seminar
JASDEC and the local banking association in13th ACG Cross Training
SeminarLuxembourg co-hosted the JASDEC seminar.

The 13th ACG Cross Training Seminar was held

Held in Luxembourg, the event provided an

in Ulaanbaatar, Mongolia, hosted by MSCH&CD

introduction to JASDEC’s activities, especially(Mongolian Securities Clearing House & Central

book-entry transfer systems for stocks andDepository Co., Ltd). As convenor of thecorporate bonds, for an audience consisting

Exchange of Information Task Force, JASDECof people working in the custody and fundassisted MSCH&CD to run the event. At themanagement areas.

seminar, presentations were made on theJASDEC participated in a symposium hosted
by the Frankfurt School of Finance andManagement to commemorate 150 years offriendship between Japan and Germany. Heldin Frankfurt on September 12, the symposium
focused on the future of Japanese capital
markets and the prospects for German

results from an issuer services survey, on theinvestors. The event attracted a large number

current situation and future issues pertaining toof attendees representing financial institutions,

CSD linkage, on legal applications in cross-universities and other organizations in Japanborder securities transactions, and on theand Germany. There was lively discussion onresponses to the Great East Japan Earthquake.

topics ranging from the development of legal
frameworks for Japanese capital markets toinvestment in Japanese securities. JASDEC
gave a presentation on its role and functions in
the financial system, including an overview ofthe securities settlement system in Japan.

International Relationships

JASDEC and KSD held the trainee exchange program
under their MOU on information exchange and mutualcooperation. Both institutions accepted trainees,
who were mostly young employees. The program

ACG Secretariat, supported KSD, and decisions were made on ACG Activity Plan 2012-enabled better reciprocal understanding by providing

13, activities for each task force, website upgrading and other matters. At the CSD’s

the trainees with a general overview of the activities“Competing for Collaboration” panel, described JASDEC’s policy of expanding operationsof each institution, and better networking among

to meet participant demand in the context of our legal and governance framework.

employees.

15th ACG General MeetingTrainee Exchange with KSD

November 2-4

November 14–18,November 28–December 21112

2012.123

October 4–5

March

Conference Hosted byEuropean Central Bank

Completion of Final Report forABMF Phase 1

Chairman Takeuchi was invited toThe ABMI (Asian Bond Markets Initiative), under theECB’s “Conference on Securities

Meeting of the Finance Ministers and Central Bank

Settlement in 2020: T2S and beyond”

Governors of the ASEAN+3 group, comprises four

(held in Frankfurt, Germany) as aTask Forces (1: charged with promoting the issuancepanelist, and presented on themesof local-currency-denominated bonds, 2: facilitatingin recent trend in Asian Securities

the demand for local-currency-denominated bonds,3:Markets.

improving the regulatory framework and 4: improving therelated infrastructure of the bond markets). The ABMF
(ASEAN + 3 Bond Market Forum) was established under
Task Force 3 (improvement of regulatory frameworks),

September 18, September 19–23

and two sub-forums were held. Sub-Forum 1 sought to

1st WFC Meeting/Sibos 2011

in general, while Sub-Forum 2 was concerned primarily

identify regulatory barriers relating to bond transactions

The 1st World Forum of CSDs meeting was held in Toronto, Canada. JASDEC waswith identifying cross-border settlement operations. The

given responsibility for planning and administration as the secretariat of the WFC, andresults of these deliberations were compiled into a final

Chairman Takeuchi served as vice-chairman at the meeting. Updates on activities inreport, which was published in April 2012.

each regional CSD association were presented and the WFC’s work plan toward theJASDEC has participated in the ABMF as the12th Conference of CSDs (May 2013) were discussed. JASDEC also participated inJapanese representative, and is actively participating inSibos 2011 held in Toronto from September 19.

Sub-Forum 2 as the co-vice-chair.

41

Annual Report 201210

The 15th ACG General Meeting was held in Seoul, Korea, hosted by KSD. JASDEC, as