Aurachain to Push Digitization For Bucharest Stock Exchange, Central Securities Depository

Aurachain, a platform self-described as one where “you can quickly build, test and launch any type of process application to address your business needs,” has partnered with the Bucharest Stock Exchange (BVB) as well as the Central Securities Depository, according to a press release from the groups.

“Two innovative solutions developed using the low-code Aurachain platform will be implemented to accelerate and optimize the shareholder voting process at exchange listed companies using blockchain technology, and to facilitate access to the capital market by digitizing investor enrollment,” it continues.

This first solution would be digitizing voting on the Annual General Meetings and the Extraordinary General Meetings platforms. The second is to digitize the process of opening trading accounts.

Speaking on the matter is Silvia Buicanescu, the CEO of Central Securities Depository, who said:

“By benefiting from a unique position in the capital market, the Central Securities Depository is a provider of services for depository financial instruments, registry for issuers listed at the BVB, as well as a system for settlement of securities trades. The Central Security Depository is an infrastructure that needs to undergo a digital transformation, especially in the current global context, and to automate as much as possible the processes carried out in a safe, transparent and traceable manner in compliance with the current regulatory framework. I am convinced that the new partnership concluded with Aurachain will be successful as it will bring value to the services offered by the Central Securities Depository and will represent the beginning of a solid, long-term cooperation in other areas of activity.”