On 24 October 2019, the Bank of Russia named the quality of NSD Valuation Center’s functioning during the determination of the value of Eurobonds issued by Russia's Ministry of Finance (MinFin) as satisfactory.
Now, the NSD Valuation Center is the only fair price data source officially accredited by the Bank of Russia. Every day, the Valuation Center calculates the values of approximately 800 exchange-traded ruble-denominated bonds and mortgage bonds, and issues reference data on more than 1,500 financial instruments based on the previous calculation methodology.
“The evaluation of Eurobonds based on NSD’s open methodology which meets IFRS requirements is a unique and very popular product; it attracts the keen interest of market participants. The Bank of Russia’s decision proves that this NSD’s product meets the highest quality level set by the regulator. We see great potential for MinFin Eurobonds on the repo market with the use of the Valuation Center’s calculated prices, and we think that the presence of a single independent national benchmark on which government institutions, infrastructure and market participants can focus is a very important issue,” said Alexander Diakovskiy, Managing Director for Information Assets, NSD.