National Settlement Depository Launches New Electronic Matching Services

27 November 2014
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National Settlement Depository has launched new electronic matching services for OTC transactions. Now the company's clients can receive information about potential counter instructions for OTC transactions with securities. In many cases, participants in OTC transactions have to spend a lot of time searching for a counter instruction if the parties instructions for settlements do not match (for instance, if the parties indicated different number of securities or failed to put the correct sum of the transaction); they also have to connect with the counterparty directly and agree on each transaction's parameters. The new electronic matching services will allow NSD clients to speed up the process of searching counter instructions for settlements: the system compares all instructions automatically. It also reduces the time needed to make corrections in the instructions; the clients will be informed which field in the instructions does not match.

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