NSD Included in International Rating of Organizations Assigning pre-LEIs

23 December 2014
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National Settlement Depository (NSD), Russia’s central securities depository acting as a Pre-Local Operating Unit (pre-LOU), has been included by the TABB Group and Alacra in the international rating of 14 leading organizations that are entitled to assign pre-Legal Entity Identifiers (pre-LEIs).

NSD was ranked eleventh in the 2014 rating. Among other organizations included in the rating were major financial institutions and infrastructures of other countries: DTCC, London Stock Exchange, WM Datenservices (Germany), Dutch Chamber of Commerce (Netherlands), Institut National de la Statistique et des Etudes Economiques (France).

The rating was made on the basis of the assessment of quality of data provided by pre-LOUs by nine criteria that in total determine the integrity, relevance and consistency of information that goes with assigned pre-LEIs as well as an integrity of the provided data format. The full version of the report is available at the TABB Group’s official website.

About Pre-LOU and pre-LEI

On 1 March 2013, NSD received an official status of a Pre-Local Operating Unit (pre-LOU) assigning international Legal Entity Identifiers (LEIs) to market participants and updating their data in the Global Legal Entity Identifier System (GLEIS).

On 27 December 2013, NSD was endorsed as a globally accepted pre-LOU by the Regulatory Oversight Committee (ROC). Since that time, all pre-LEIs assigned by NSD by that moment and after ROC’s endorsement of NSD should be globally accepted by regulators, market participants and pre-LOUs of other countries on equal terms with the codes assigned by other pre-LOUs endorsed by ROC.

In September 2014, NSD launched a special portal dedicated to financial market participants’ pre-LEIs: www.lei-code.ru.

Legal Entity Identifier (LEI) is a new universal standard (ISO 17442) allowing identification of all participants in financial transactions on the basis of a unique 20-digit code. Its development has been overseen by the G20 nations and the Financial Stability Board.

The decision to create a global system of identification of participants in financial operations was made by the G20 in order to improve transparency in financial markets and strengthen control over systemic risks. The global identification structure is being formed by the Financial Stability Board, and responsible Russian organizations are participating in this process.

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