Recommendation 1 Recommendation 2 Recommendation 3 Recommendation 4

Recommendation 5 Recommendation 6 Recommendation 7 Recommendation 8

Market selection

Recommendation 6

Convergence of Securities Systems, both within countries and across borders, should be encouraged where this eliminates operational risk, reduces cost and enhances market efficiency.

1.	Is the depository linked electronically and in real time with other segments of the core market infrastructure (e.g. trading platforms, netting systems, matching platforms, payment systems)?	TSCD has linked electronically with TSE.
2.	Is there one or more depository or settlement system in the market?	TSCD is the only central depository for stock market.
3.	If there are several, has a consolidation been considered? If yes, by when?	No.
4.	Does (do) the securities system(s) allow other domestic or foreign systems to establish direct links on an equal basis to local members?	TSCD has capabilities to accept links with other systems.
5.	Does (do) the securities system(s) allow foreign market participants to become direct participants?	No.