The depository system is a system of interactions among the central depository and its members in relation to de-documenting, keeping, accounting securities, confirming the rights they represent, encumbering the securities, maintaining records of accounts of securities holders, opening, operating and making money transfers from accounts in accordance with the Investment Funds Law of Azerbaijan. The depository is governed by the Securities Market Law and the Investment Funds Law of Azerbaijan.
The central depository, together with members investment companies and the investment fund’s depository, constitutes the depository system. The National Deposit Center manages the depository system. The National Deposit Center is a not-for-profit legal entity established by the financial market supervision authority. The central depository shall disclose generalized information on securities, with their holders anonymized.
Functions of the central depository: