Meetings and Events
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Members represented by powers of attorney
| Australian Stock Exchange | Australia | |
| Bolsa de Valores de Sao Paulo - Bovespa | Brazil | |
| Indonesian Central Securities Depository | Indonesia | |
| Tehran Stock Exchange Services Co | Iran | |
| The Tel Aviv Stock Exchange | Israel | |
| Kuwait Clearing Corporation | Kuwait | |
| Central Depository Cy of Paskistan | Paskistan | |
| National Depository for Securities | Poland | |
| Stredisko Cennych Papierov AS | Slovakia | |
| KDD Central Securities Clearing Corp. | Slovenia | |
| Thailand Securities Depository Co. Ltd | Thailand |
1. Opening & Welcome
1.1 N. Hougaard (NH) welcomed delegates to the ANNA Ordinary General Meeting in Prague.
2. Roll call of Delegates
2.1 33 Members were present and 10 members were represented by proxy. 43 members (70,5%) of the membership were present or represented by proxy satisfying the quorum requirements of the Articles of Association.
3. Adoption of the Agenda
3.1 The agenda was adopted with the addition of a report from Nourredine Yous (NY) on the work of ISO/TC68/SC4/WG6:
3.2 Following NH's proposal, Terry Allison (TA) kindly accepted to draft the minutes of the meeting.
3.3 In the same manner, Nourredine Yous (NY) and Jyrki Leppanen (JL) were nominated as vote tellers to check the vote result on the various resolutions or elections.
4. Report from the Chairman
4.1 NH reported that, while one Board meeting had taken place in London so far this year, the Board and the Secretariat had been actively involved in the work surrounding the ANNA Service Bureau (ASB). As this was going to be covered in some detail later on, his comments would be limited.
5.2 Resolution 1
5.3 Resolution 2
5.4 Resolution 3
5.5 Resolution 4
5.6 Resolution 5
5.7 Resolution 6
5.8 Resolution 7
5.9 Resolution 8
5.10 L. Lambert (LL) proposed a new structure for future agenda points suggesting that a letter be sent to all members prior to the General Meeting, containing a written report from the Chairman and financial reports to include financial forecast for the next year. NH accepted the proposal and will implement for future meetings.
5.11 It was agreed that GE should produce a proposal for the distribution of revenue to NNAs from the ANNA Service Bureau to be presented at the next General Meeting.
6. ANNA Service Bureau - Implementation status
6.1 Task Force 16
6.1.1 N. Yous (NY) reviewed the work of TF16 and confirmed that the internal version of the ASB specifications had been checked by TF16 members and that most of the comments had been integrated.
6.1.2 Both J. Taylor (JT) and NY confirmed that both organisations had disaster recovery procedures in place that cover problems related to the ASB.
6.1.3 It was confirmed that the contract with Reardon Technology, covering the GIAM system, should probably cease on January 1, 2002, however the ANNA website maintenance still need to be discussed. A proposal will be presented by the Board at the next General Meeting.
6.1.4 NY thanked all members of TF16 for their hard work and commitment.
6.1.5 It was also confirmed that TF16 would cease as from July 1, 2001.
6.2 ASB demonstration
6.2.1 S. Preiss (SP) gave a demonstration to the members using a prototype of the product line ISIN Access of the ASB.
6.2.2 SP confirmed that coding and programming were on schedule for the July 1, 2001 live date.
6.2.3 SP reminded members that the ASB would need a download of members' GIAM data files in order to populate ASB. In order to avoid confusion regarding what is expected from members the following resolutions were voted:
6.3 Bilateral Agreements
6.3.1 All ANNA members who will additionally require a bilateral agreement as well as the ASB contract have been asked to review this position as follows:
6.3.2 Resolution 10
7. Election of two Board Members
7.1 On behalf of the Nomination Committee NH, LL and DO reminded the group that two positions were vacant on the Board and presented the only two candidates having received at least five nominations: The London Stock Exchange represented by Terry Allison and Euroclear France represented by Alain Duhamel. The election was held and the Members voted on the following resolutions:
7.2 Resolution 11
7.3 Resolution 12
8. Election of the ASB Advisory Board
8.1 Resolution 13
8.2 Resolution 14
8.3 Resolution 15
8.4 Two ASB Advisory Board seats have also been appointed by the ANNA Board. Vaerdipapircentralen represented by Niels Hougaard as Chairman of ANNA together with Euroclear France represented by Alain Duhamel, Convenor of ANNA-WG2/ISIN User Group.
8.5 ANNA appointed delegates designated the Chairman of the ASB Advisory Board and Clearstream Banking represented by Dan Kuhnel (DK) was appointed as the first Chairman for a one year term.
8.6 It was also agreed that Takasbank represented by Osman Topbas shall chair the next period where ANNA appoints the Chairman.
9. Letters of Understanding – Status report
9.1 Uwe Meyer (UM) and NH commented on a report recently prepared by the ANNA Secretariat showing status of the various NNAs vis a vis several ANNA requirements (Annex E). It was agreed that the Substitute Numbering Agencies would follow-up on exceptions for their area of responsibility and would come back to members with a new status report, showing progress made, at the next General Meeting.
10. Report from the Convenor of ANNA-WG2/ISIN User Group
10.1 Alain Duhamel (AD) reported on the work of WG2 and the ISIN User Group. AD stated that a summary paper on the use of the MIC code would be issued in June and that the next meeting was being hosted by SWIFT in London. The ANNA membership will be kept informed accordingly.
10.2 AD reported that a minor revision was planned for ISO-6166 and would be presented by Euroclear Bank to WG2 members prior to being distributed to all ANNA members for comments. NY reminded members that any alterations to the standard, no matter how minor, would have to go the normal ISO revision process.
11. Reports from other Working Groups (WGs) and Task Forces (TFs)
11.1 Uwe Meyer (UM) reported on the work of WG1 and confirmed that 10 countries had signed ANNA partnership agreements. UM confirmed that discussions were taking place with China, Macedonia, Kazakhstan and the Eastern Caribbean Exchange about the implementation of ISIN in their countries.
11.2 UM said it was hoped that, by the end of the year, as a result of partnership agreements, 20 countries would be allocating ISINs who would otherwise not be able to.
12. Report from the Convenor of ISO/TC68/SC4/WG6
12.1 NY gave presentation on the work of SC4-WG6 who are initially tasked with looking at ‘’Financial Instruments Short Descriptions’’.
13. Miscellaneous
13.2 Answering a question raised by NY, AD confirmed that Paris, Amsterdam and Brussels will implement the ISIN standard on the Euronext platform in 2002 together with the MIC code (ISO-10383 Market Identifier). AD added that the ISIN should also be used shortly for the settlement of domestic trades in France.
14. Next meeting
14.1 Juan Carlos Falabella from the Caja de Valores in Argentina has offered to host the next Extraordinary General Meeting in Buenos Aires on October 25 & 26, 2001.
14.2 In the same manner, the Central Securities Depository of Greece has offered to host the spring meeting of ANNA in 2002.
15. Closure
15.1 NH expressed his thanks for the hospitality of the Czech Securities Commission and looked forward to welcoming members to Buenos Aires in October.