NBU rep replaces National Securities and Stock Market Commission’s rep in Supervisory Board of National Depository
Yaroslav Shliakhov, a member of the National Securities and Stock Market Commission of Ukraine (NSSMC), has been replaced on the supervisory board of the National Depository of Ukraine (NDU) by Andriy Suprun, head of the corporate rights and depository activities department of the National Bank of Ukraine (NBU).
As noted in the NDU's announcement in the NSSMC disclosure system, the powers of Shliakhov, who held the position of a member of the supervisory board since April 26, 2024, were terminated on October 6, 2025, in accordance with the National Bank's decision of October 3.
Earlier, on September 22 of this year, the Cabinet of Ministers issued an order transferring to the NBU, which owns 25% of the NDU, the state's 25% stake in the National Depository, which had previously been managed by the National Securities and Stock Market Commission.
Thus, the NDU Supervisory Board now includes two representatives of the National Bank and three independent members.
In early September, the National Bank announced the launch of a memorandum of cooperation to support integrated capital markets infrastructure, signed in Rome in July of this year with the European Bank for Reconstruction and Development (EBRD) with the participation of the Ministry of Economy, the Ministry of Finance, the National Bank, and the National Securities and Stock Market Commission. The first stage is to optimize the ownership structure and corporate governance of the NDU by transferring the state's stake to the NBU.
The plan is to create a holding company with the participation of a reputable international strategic investor (operator of trading and post-trade infrastructure), selected through an open tender, international financial institutions, local market participants, and the state/state-owned banks. This holding company, in turn, will create a new stock exchange in Ukraine, which, in place of the National Bank, will become the majority owner of the central clearing institution, the Settlement Center. Furthermore, this exchange will hold a minority stake in the NDU, while the National Bank will hold a majority stake.
The final stage should be the consolidation of depository services based on the NDU, which should function as a single central securities depository, by transferring to it the functions of recording and servicing the circulation of government bonds from the National Bank.