The International Securities Services Association (ISSA) announces the appointment of Mr. Haruna Jalo-Waziri, the Chief Executive Officer of Central Securities Clearing System (CSCS) Plc, as the representative of the global community of Central Securities Depositories (CSD) on the Operating Committee of the ISSA, with immediate effect.
The Operating Committee of the ISSA, chaired by Mr. Jyi-chen Chueh, Executive Director, Standard Chartered Bank, is the pivotal Committee of the ISSA saddled with the responsibility of providing technical support and execution to the Executive Board of ISSA in proposing, executing and managing work projects aimed at advancing securities services, globally.
In conveying the appointment, Parry Colin, the Chief Executive of ISSA noted, “we are delighted that Jalo has agreed to be a member of the ISSA Operating Committee going forward. We welcome him as the representative of the World Forum of Central Securities Depositories (WFC) to the Committee”.
Parry noted the value proposition of nominating and appointing Jalo to the Operating Committee of ISSA, including his leadership role in the Nigerian CSD and his understanding of ISSA as core member.
He expressed excitement at Jalo’s appointment, as he looks forward to his invaluable contributions towards delivering on the audacious mission and strategic objectives of the ISSA, going forward.
In reacting to his appointment, Mr Jalo-Waziri noted; “this is a clarion call to service in an industry that I am most passionate about. It is my pleasure to have been nominated and appointed to join the esteemed professionals on the Operating Committee of the ISSA and I look forward to working with colleagues, with diverse global experience in actively promoting forward-thinking solutions that create efficiencies and mitigate risk within the global securities services industry.”
For more than 40 years, ISSA has made significant contributions to the development of the worldwide securities services industry by facilitating the interaction among market participants and providing leadership in the formulation and promotion of best practices in the post-trade securities services.
Headquartered in Switzerland, the ISSA is an association of the world’s largest central securities depositories, global custodians and securities transaction services banks, including The Depository Trust and Clearing Corporation (the CSD for the U.S markets), Euroclear (European CSD), Clearstream (the German CSD), Hong Kong Exchanges and Clearing Limited, Citigrpup, Credit Suisse, Deetsche Bank AG, BNP Paribas, Standard Chartered Bank, SWIFT, Bank of New York Mellon amongst others.
The Central Securities Clearing System (CSCS) is a Public Limited Company, with a diversified shareholder base, including the Nigerian Stock Exchange, some of the largest banks in Nigeria, private equity firms, investment banks and other corporate and individual shareholders.
With over two decades of operation, serving as the Central Securities Depository for the Nigerian capital market, CSCS has been pivotal to the growth and transformation of the capital market, including its audacious full dematerialization of share certificates and the shortening of settlement cycle in the capital market.
CSCS serves as the central depository for equities, commercial papers, corporate bonds, sub-national bonds, certain sovereign bonds, equity-traded funds, real estate investment trusts, mutual funds and commodities. CSCS is licensed and regulated by the Securities and Exchange Commission (SEC). The activities of CSCS are governed by the Investment and Securities Act 2007, the Companies and Allied Matters Act 2004, and the SEC Rules.