At the 20th International Caspian Investment Forum held in Baku, Ramin Nurahmadov, a member of the Management Board of the National Depository Center (NDC), presented the institution’s future digital priorities. He stated that the key goals include the creation of electronic cabinets for issuers, the provision of electronic statements, and the development of a dedicated mobile application for investors.
Touching on current operational processes, Nurahmadov noted that the NDC currently carries out the clearing (obligation determination) of trading operations conducted on the Baku Stock Exchange. However, settlements are currently divided among different institutions: securities settlements are handled by the NDC, operations related to investment companies are processed by agents, and inter-agent settlements are carried out by the Central Bank. According to the newly adopted development strategy, all financial services and settlements are planned to be centralized and conducted by a single agent in the future.
Highlighting the study of international experience—particularly the models of Türkiye, Kazakhstan, and Russia—he added: “In those countries, unified clearing organizations not only conduct securities and cash settlements but also determine trading limits. We are also working on a ‘Unified Settlement Model,’ taking into account feedback from market participants and with the support of the Central Bank.”
The implementation of the new model will allow centralized management of pre-trade obligations and increase the reliability and efficiency of operations. The financial module to be created will be integrated into the depository system, and NDC members will be able to connect to the system entirely through an API. Nurahmadov emphasized that these innovations will be introduced only after the necessary testing phases are successfully completed and full integration is ensured.
