MOSCOW – National Settlement Depository (NSD), Russia’s central securities depository, and the National Securities Market Association (Self-Regulated Non-Commercial Organization) (NSMA) have concluded a cooperation agreement establishing key directions of development and operations of the NSMA Price Center to inform market participants about fair market prices, including prices for assets with low market liquidity.
According to the signed document, NSMA will consult the market participants on use of the NSMA’s methods of financial instruments’ evaluation, will upgrade the methods and develop the new ones for the NSMA Price Center, and contribute to the joint project, including:
upgrading and getting approval of existing evaluation methods in compliance with the market demand and regulatory requirements;
interacting with regulators in respect of the NSMA Price Center’s operations;
monitoring demand for price related information and promoting the Center’s services;
coordinating NSMA Price Council’s day-to-day activities.
NSD, which currently develops the software for automating the calculations of fair market prices, is also responsible for calculating and supplying the prices to market participants (banks, financial organizations and investment funds) on daily basis, using the agreed format and regime.
Eddie Astanin, Chairman of the Executive Board, NSD, said: “Russia’s market demand for information about assets’ fair prices is very high. This product fits very well in the model of NSD as a provider of corporate information to financial market participants. This product is very popular among consumers according to trial results. And this is one more example of the synergy between NSD and NSMA.”
Konstantin Volkov, President of NSMA, added: “Providing information about fair prices to market participants is crucial for improving reliability of participants, their assets and the market in general.”
About NSD
National Settlement Depository (NSD) is the central securities depository of the Russian Federation, a part of the Moscow Exchange Group. NSD is Russia's national numbering agency and the substitute numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.
The status of central securities depository was assigned to NSD by the Russian Federal Financial Markets Service’s order on 6 November 2012.
NSD holds professional securities market participant license #177-12042-000100 for depository operations issued by the Russian Federal Financial Markets Service on 19 February 2009, and license #3294 for bank operations issued by the Central Bank of the Russian Federation on 26 July 2012.
Registered office: Building 8, 1/13, Sredny Kislovsky Pereulok, Moscow 125009, Russia.
Supplementary office "Krasnye Vorota": 12, Spartakovskaya St., Moscow 105066, Russia
For further information about NSD: http://www.nsd.ru/, or NSD Public Affairs Division: +7 495 232 0910, e-mail
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About NSMA
The National Securities Market Association (NSMA) is a leading organization of professional participants of the Russian securities market. It was established in January 1996 and numbers about 220 members, mainly from credit organizations, located in 27 Russian regions. The NSMA operates on a self-regulatory basis in Russia’s stock market (with an unlimited number of types of professional activities).among the Association’s key projects in financial markets are development of repo and refinancing system in general, development of financial infrastructure, infrastructure bonds, reduction of the regulatory burden etc.
The NSMA is an associate member and represents the Russian participants of securities market in the International Capital Market Association (ICMA) and in the European Financial Markets Federation.
For further information about NSMA: http://www.nfa.ru/, , +7 495 980 9874.