On 9 June 2015, National Settlement Depository (NSD), SWIFT and ROSSWIFT held a joint workshop dedicated to the implementation of international ISO 20022 standards in the Russian market. Among SWIFT speakers were Matthieu de Heering, Head of Russia, CIS and Mongolia, and Kris Vanholst, Senior Product Manager. ROSSFWIFT was represented by Elena Solovyeva, Global Head of Standards. NSD speakers include Sergei Putyatisky, IT Director, Sergei Bernevega, Managing Director for Corporate Information, and Pavel Andrianov, Director of IT Development Department.
Market participants and representatives of infrastructural institutions discussed issues of the ISO message implementation and these processes’ characteristics on the Russian securities market. In particular, an issue of expansion of using the ISO 20022 format and converting ISO 15022 into ISO 20022 and vice versa was raised.
NSD widely uses ISO formats in its operations. For instance, NSD informs the clients on 28 types of corporate actions by transmitting ISO 15022 messages via SWIFT channels and ISO 20022 messages using its own software.
Another major project of NSD based on ISO formats and SWIFT channels is an automated receipt and processing of instructions for corporate actions. To date, NSD implemented a full cycle of conducting a general shareholder meeting in the electronic form: initialization, information distribution, collection of instructions, summing up voting results. First AGMs with the use of new technologies have been already held by issuers, including major ones such as Sberbank; this demonstrates the efficiency and demand for implementation of international formats.
The cooperation with SWIFT in these projects has been very important for NSD. That is why the workshop participants were eager to discuss the cooperation results, share their experience and further plans of developing services using ISO standards on the basis of NSD and SWIFT.