On 22 June 2015, National Settlement Depository (NSD), Russia’s central securities depository, held a conference devoted to trends and challenges in the sphere of repository operations and the OTC market regulation. The event was organized with the Bank of Russia’s support at the Moscow Exchange Headquarters on Vozdvizhenka Street, Moscow. The 2015 Repository conference is the first and only event in Russia allowing Russian market participants, representatives of the regulator and the biggest repository in the country to discuss trends and prospects of repository operations in Russia, to learn about the latest developments in the industry and ask their questions.
Among the Bank of Russia’s speakers were Ksenia Yudayeva, First Deputy Governor, Sergei Moiseev, Director of the Financial Stability Department, and Elena Chaikovskaya, Director of the Financial Market Development Department. The regulator’s representatives described the global trends in repository activities and prospects of the legislation development in Russia. The speakers focused on issues related to a separation of the close-out netting from reports submitted to the repository, as well as on the Bank of Russia’s plans to launch a procedure of submitting corporate reports on transactions with OTC derivatives to the repository.
Eddie Astanin, Chairman of the Executive Board, and Anastasiya Kiseleva, Managing Director for repository operations of NSD, Russia’s largest and systemically important repository, presented to the market participants the detailed results of the repository’s operations from the moment of its launch in 2013. They also shared the company’s plans and spoke about the preparation for the process of submitting mandatory reports on all types of derivatives which is to be introduced on 1 October 2015.
Finally, Elvira Borzunova, Head of the Financial Market Infrastructure Organizations and Instruments Development Department, Bank of Russia, presented to the delegates a report on implementation of the Unique Trade Identifier (UTI) in the Russian market and on the approaches to collecting data on fair value and margin.