EDB Secured Membership of ISDA and ICMA

Almaty, 30 March 2010. The Eurasian Development Bank (EDB) became member of the two leading international professional associations: the International Swaps and Derivatives Association (ISDA) and the International Capital Market Association (ICMA). The respective applications of the Bank were approved by the Board of Directors of the ISDA and the Membership Committee of the ICMA.

Membership of these associations will enable the EDB to perfect its system of market risks management on an ongoing basis in line with current market trends, and play an active role in preparing and discussing respective regulations. Just as importantly, the EDB will have excellent opportunities to exchange experience with other financial market players.

“The EDB’s admission to the international professional associations ISDA and ICMA indicates that the Bank is evolving into a professional player in international capital and derivatives markets”, said Sergey Yelagin, Member of the Executive Board and Director of Treasury of the EDB. “The EDB became the ICMA’s first member headquartered in Kazakhstan and one of the few members from the CIS. In addition, membership of the ICMA allows the EDB to participate and vote in the European Repo Council and the European Financial Markets Federation”.

Additional Information

International Swaps and Derivatives Association (ISDA) was founded in 1985 and now has membership of more than 800 entities from 57 countries. The ISDA specializes in identifying and reducing risks associated with derivatives.

International Capital Market Association (ICMA) was founded in 1969 and has about 350 members from 45 countries. Since its inception the ICMA has played a central role in creating the global framework for the operation of financial markets based on the rules and recommendations of the modern economy and production.