On 25 December 2018, National Settlement Depository (NSD), Russia’s central securities depository, received J.P. Morgan’s Elite Quality Recognition Award for the high quality of outgoing USD payment instructions. This recognizes the effectiveness of the Russian CSD’s clearing operations.
In 2018, NSD received two awards: the Elite Quality Recognition Award was given to the depository for the highest quality of interbank payment instructions MT202 (99.91% of STP payments) and the highest quality of commercial payment instructions MT103 (99.60% of STP payments). This way, one of the largest international banks acknowledges financial institutions that carry out USD payments with a high level of straight through processing (STP).
“Given the challenging economic situation of this year, only a few our clients received the Elite Recognition Quality Award. Over the years, NSD has successfully maintained the highest level of STP payments relating to a large number of transactions conducted,” said Ekaterina Terekhova, Managing Director, Head of the Transaction Services Department, member of the Management Board, J. P. Morgan Bank.
“Elite Quality Recognition Award reflects the high level of prestige and professionalism of NSD’s team.” “J. P. Morgan’s award recognizes the high quality, speed and reliability of transactions processed by NSD; it aligns with our values and market tasks,” added Svetlana Gryanchenko, Director of the Operations Department, NSD, commenting on the award ceremony.