The Depository Trust & Clearing Corporation (DTCC) and the China Securities Depository and Clearing Corporation Limited (SD&C) have signed a Memorandum of Understanding (MOU) to foster an information exchange and cooperation on projects of interest.

The agreement provides the legal and business framework for SD&C and DTCC to work together and exchange information at both senior and staff levels. It is the latest memorandum of understanding DTCC has signed with China, following one with the China Government Securities Depository and Clearing Corporation Limited (CDC) in December 2006.

Under the terms of the agreement, both sides will “establish a basis of co-operation in securities depository and clearing matters to help foster the prosperity of their financial markets, promote cross-border investment and explore opportunities for co-operation in both depository and clearing operations and in the establishment of an operation linkage.” The pact also noted that the parties “anticipate developing a closer working relationship” in the future. (BusinessWire)

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