An adopted version of the Terms and conditions for the provision of repository services (hereinafter – the Terms), adopted on 1 July, 2013, shall come in effect on 27 August, 2013.
Changes in the Terms are applied to:
- transition to a new messages format on repo and FX swaps contracts (new field names/codes, formats);
- modification of the master agreement cancellation procedure. In accordance with the new Terms, in order to cancel master agreement and (or) Repository services agreement related to a certain master agreement a Master agreement termination form should be provided;
- additions to the list of services, provided by NSD’s Trade repository;
- addition of the paragraph 6 “Repository’s accompanying services”, describing new services and their provision: Conversion services; provision of the report “Reporting forms with a Pending status”; Web-service.
From the moment the Terms are in effect, NSD’s Trade repository stops accepting clients’ messages in old formats. Starting 27 August, 2013 Repository clients should provide information, required inclusion into the Contracts register, in new formats in accordance with the Appendix 2 to the Terms. Clients having issues with reporting and message processing using a new format, are able to use conversion services, provided in accordance with the Terms, which is free of payment during a grace period. Conversion is available from 27 August, 2013 using Web-service.
Information on master agreements and contracts, included into a Trade repository Contracts register on the end of 26 August, 2013, shall be automatically converted into a new format. Starting 27 August, 2013 extracts from the Contracts register shall be provided to the clients in a new format.
Information on master agreements and contracts in old messages formats, provided to the Repository, but not included into a Contracts register before 27 August, 2013, shall not be included into a Contracts register until provided by clients in a new messages formats. Such messages shall be kept in the Trade repository system with a ‘Pending’ status and after 100 days clients shall receive rejection advices on such messages due to the lack of confirmation from the counterparties. Repository shall not form and provide daily reports on such messages with the ‘Pending’ statuses.
After automatic conversion of its database, Repository shall provide notifications to the clients, which shall contain converted master agreement/contract per each reporting form.
In accordance with the mandatory reporting of all types of contracts, stipulated in the clause 6 of the article 51.5 of the Federal law ‘On securities market’, in September, 2013 NSD shall start trial operations with all types of contracts, required to be registered in the Repository. Trial operations schedule shall be published on NSD’s web site on 26 August, 2013.
Please note that reporting all trade types will be available no later than 5 November, 2013, after disclosing an NSD’s message on accepting all trade types on Federal Financial Market Service web-site.
New version of the Terms is disclosed on NSD’s web-site in Repository regulations, rules and legislation section.
Please contract Anna Kostyreva () or phone +7 495 232 05 26 on message formats topics.
On repository services topics please contact Dmitry Bogoslovskiy: