Russia’s NSD working with Bloomberg on OTC repo collateral service

22 December 2016
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Aim is to build a similar model already available for repos with the Bank of Russia.

Russia’s National Settlement Depository (NSD) is testing a new collateral management service for OTC repos.

The central securities depository, part of the Moscow Exchange, is working with Bloomberg on the project.

The pair plan to process repo trades with securities baskets using NSD’s collateral management system.

Eventually, the aim is to build a similar model already available for repos with the Bank of Russia and for on-exchange repos with general collateral certificates (GCC).

NSD’s tri-party service allocates colleratal for transactions on an individual basis. Securities can be substituted within the term of the transaction. Mark-to-market, margining and automated reporting are also on offer.

The commercial launch is scheduled for March 2017.

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