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The XXV ACSDA General Assembly addressed the diversification of the businesses of CSDs, the new trends in technology, and cyber resilience.
Depósito Central de Valores (DCV) made a positive balance of the XXV General Assembly of the Americas' Central Securities Depositories Association (ACSDA), which gathered more than 70 representatives from 26 countries of the Americas and Europe.
Organized by Cevaldom, the Securities Depository of the Dominican Republic, in Santo Domingo, the event started with the ACSDA's chairmanship turnover. After two years leading the organization, Javier Jara, DCV's Legal and Corporate Affairs Manager, handed over his position to Alejandro Berney, Executive Director of Caja de Valores de Argentina. Javier Jara will remain on the Board of Directors of ACSDA for two more years.
"It was a very enriching challenge to lead this group, mainly due to developing a work plan during the pandemic that made us review our initial planning. With all, we made progress and keep more than 30 securities depositories of America and África connected and participating in events such as webinars and online seminars," said Javier Jara.
During the meeting that took place for two days, the main topics addressed focused on the diversification of the business of the CSDs, the new trends in technology, and cyber resilience. "Each depository faces different regulatory challenges depending on the degree of maturity of their country's financial market. However, there are common challenges, such as digitizing assets and incorporating new types of investors," he added.
Participation in the General Assembly
In the same assembly, Claudio Calderón, Head of Strategic Projects of DCV, gave a presentation on the issuance of digital assets on DLT platforms in the "Business Diversification of CSDs" panel.
Each CSD operates in a different market and business environment. Therefore, the market needs must be clearly identified for the product or service to succeed.
"These types of projects allow to position CSDs in the role of custodians of digital assets. DLT can be used in stages of the cycle of securities issuance and the registry of securities transfer, as well as in the registry of securities transfer and the trade settlement process," Calderón explained.
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