On 12 December 2018, National Settlement Depository (NSD), Russia’s central securities depository, began transmitting theoretical fair values of U.S. dollar-denominated Eurobonds issued by the Russian Ministry of Finance.
The methodology for valuing Russian Federation Eurobonds is available to market participants as part of the expanded open testing of NSD Valuation Center’s new product until 31 March 2019.
The Methodology for determining the value of Russian Federation Eurobonds has been approved by the Expert Council of NSD’s Valuation Center; it is based on IFRS 13 and incorporates specifics of securities traded on the OTC market. The Methodology is available at https://nsddata.ru/ru/documents in the NSD Valuation Center section. The daily valuation, based on the new three-level methodology, will be available for downloading via API and on NSD Information Services website.
“The new product was created in close cooperation with experts of the Ministry of Finance, Bank of Russia and major domestic financial institutions, and I am sure that very soon it will become a widely recognized benchmark for this important class of securities. We hope that our work on expanding the coverage of NSD Valuation Center’s products will give a new spin to Eurobond transactions in Russia,” said Alexander Diakovskiy, Managing Director for Information Assets, NSD.