Principles for Financial Market Infrastructures

In April 2012 «Principles for Financial Market Infrastructures» developed in common by the Bank for International Settlements (BIS) and the International Organization of Securities Commissions (IOSCO) were issued (Committee on Payment and Settlement Systems «Principles for Financial Market Infrastructures», April 2012)1.

The main objective of the «Principles for Financial Market Infrastructures» is the establishment of effective internal evaluation procedures to maintain financial stability, functioning continuity, an appropriate risk management of the financial market infrastructure that meets the interests of the owners, participants, clients and employees of such a financial market infrastructure.

National Settlement Depository (NSD) is an infrastructure institution for financial market of the Russian Federation, performing a wide range of activities, including the functions of the Central Depository and securities settlement system, systemically and nationally significant payment system, a trade repository. According to the provisions of the Bank of Russia Order of 09.04.2014 N OD-607 «About the assessment method for the degree of conformity to the Bank of Russia's recommendations by systemically important payment system operators, involved payment infrastructure service providers and associated systemically important payment systems» and to the procedures defined in the document «Principles for Financial Market Infrastructures: Disclosure Framework and Assessment Methodology»2 issued by the Committee on Payment and Settlement Systems of the Bank for International Settlements and the Technical Committee of the International Organization of Securities Commissions, NSD is publishing this «Disclosure by NSD Information on Compliance with the Principles for Financial Market Infrastructures» for the purposes as follows:

  • to increase transparency of NSD’s activities as financial market infrastructure;
  • to disclose the information about NSD’s activities including rules, key procedures and market indicators to the clients and contractors, both existing and potential, to the bodies of appropriate competence and to the public;
  • to provide disclosed information of sufficient quantity and appropriate quality for the correct understanding and evaluating by the clients and contractors, both existing and potential, of the risks associated with their interaction with NSD.

Disclosure of information on compliance with the Principles for Financial Market Infrastructures will be effected by NSD on a regular basis.

Disclosure of information on compliance with the Principles for Financial Market Infrastructures

1 — http://www.bis.org/cpmi/publ/d101.htm

2 — http://www.bis.org/cpmi/publ/d106.htm

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