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Report on CSD Interim Meetings

2. Establishment of CSD Interim Meeting. The idea of establishing CSD Interim Meeting was discussed at CSD9 Top Management Meeting in Seoul. Purpose of CSD Interim Meeting is:to strengthen cooperative relation of worldwide CSDsto exchange information and discuss on common issues among worldwide

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Report on CSD Interim Meetings

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    1. Report on CSD Interim Meetings May 2009 Japan Securities Depository Center, Inc.

    2. 2 Establishment of CSD Interim Meeting The idea of establishing CSD Interim Meeting was discussed at CSD9 Top Management Meeting in Seoul. Purpose of CSD Interim Meeting is: to strengthen cooperative relation of worldwide CSDs to exchange information and discuss on common issues among worldwide CSDs on more timely basis. The interim meeting started to be held in addition to the biennial CSD general meetings since April 2008 in Tokyo.

    3. 3 The 1st CSD Interim Meeting in Tokyo (the Issues discussed) Updates from the Regional CSD Groups Breakout Session: Discussion on Issues of Common Interest Corporate Action: Discussed on centralization and standardization of information Shared common perceptions that CSDs should be the most appropriate provider of the information Disclosure Framework: Effective measure of responding to the needs of various requestors. As a pragmatic approach, the comparison among existing Disclosure Frameworks/surveys would be reported at Interim Meeting held at SIBOS 2008. Discussion on Management of “World CSD Group” There were a variety of opinions on the issue. Reached consensus on the understanding that it is important to address common concerns among the worldwide CSDs.

    4. 4 The 2nd Interim Meeting in Vienna Common Disclosure Framework The regional CSD groups agreed to discuss with their members about: Whether it is a significant issue to be discussed at Interim Meetings. Whether to hold a discussion and collaborate with the information requestors (AGC and CPSS/IOSCO). Link Up Markets: Circumstances and future tasks Updates from the Regional CSD Groups Progress Report on the 10th Conference of CSDs in Budapest

    5. 5 The 3rd CSD Interim Meeting in Budapest Common Disclosure Framework Corporate Action Services for Issuers Discussion Summary and Comments on the Past Interim Meetings Change of Secretariat

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