Dear clients!
National Settlement Depository (hereinafter – NSD, Repository) informs you that in accordance with the Bank of Russia’s Directive 3382-U starting 1 January 2015 a second paragraph to the clause 9 of the Banks of Russia’s Directive 3253-U (hereinafter – the Directive) comes in effect. The mentioned clause stipulates that ‘agreement on the provision of the repository services concluded after 1 January 2015 should contain Legal Entity Identifiers of parties of the master agreement and reporting agent’.
In the pursuance of the mentioned above clause of the Bank of Russia’s Directive NSD:
- Shall provide the opportunity to include information about the Legal Entity Identifiers (hereinafter – LEI) for the parties of the master agreements and contracts, for the Principal reporting agents and Reporting agents in all messages sent to Repository for registration in the Contracts register.
Note that if one party is specified in message both with Repository identification code and LEI, and the other party – only with the Repository identification code, such message shall be accepted for the registration procedures.
Additional information on changes into the Terms and conditions for the provision of repository services is available in message published on NSD’s website on 25 November, 2014.
Information on installing mentioned above changes into the commercial software environment will be additionally provided.
- Starting 1 January 2015 will request information about assigned LEI, which becomes mandatory for market participants when entering into the Agreement on the terms and conditions for the provision of repository services (see the clause 3.1 of the adopted (not in effect) version of the Terms).
In case market participant has not received LEI in the past, one can be assigned to it in the Local operating unit (LOU), including NSD.
Additional information on assigning LEI is available on NSD’s specialized website or in the NSD’s Client Services Department.
In order to notify NSD about the assigned LEI you can use notification template, published in the ‘Repository regulations, rules and legislation’ section of NSD’s website*.
* – Notification is not required if LEI was assigned to the client by NSD.
In addition informing you that clause 25 of the Bank of Russia’s Directive also stipulates that starting 1 July 2015 Repository shall reject data registration if such data lacks information about LEIs of parties of the contract or LEI of the reporting agent.
Since LEI assignment procedure can take up to 10 business days, NSD recommends all market participants (clients, reporting agents) to complete LEI assignment procedures in advance.
Information about data registration procedures due to the changes into the clause 25 of the Directive will be additionally provided no later than April 2015.
For the questions on repository services please use the contacts provided on NSD’s website.
See the Repository messages specifications on a specialized web site.
Information about LEI is available on NSD’s specialized website. Additional information on legal entities identifiers is published on LEI ROC website.