BAKU, Azerbaijan, April 13. Depository transactions with Kazakhstan will be fully automated, Chairman of the Board of Azerbaijan's National Depository Center, Elchin Alizade, told TurkicWorld in an exclusive interview.
According to him, the main institutional and legal steps within the framework of cooperation with Kazakhstan’s central securities depository have already been completed
He noted that mutual accounts have been opened between the two depositories.
"This creates the technical capacity for the transfer and custody of securities. Currently, some operations may be performed manually. At the same time, technical work is continuing to ensure direct connectivity and integration between the depositories. The goal is to fully automate securities transactions and execute them in accordance with international standards via the SWIFT platform. The aim is to complete this technical work by the end of this year and transition operations from a manual process to a fully automated one," the official emphasized.
