In the framework of implementing its Development Strategy, National Settlement Depository strengthened its key business lines: Russia’s central securities depository (NSD), Sergey Bernevega was appointed Managing Director for Corporate Information, and Pavel Solovyov – Managing Director for Trade Repository Development and Operations.
In his new role, Sergei Bernevega will head the activities related to providing corporate information and processing corporate actions. Mr. Bernevega will manage the establishment of the Corporate Information Center – Russia’s official center for collection, storage and distribution of corporate information – on the basis of the CSD. These services are in high demand among Russian and foreign market participants and investors, therefore the establishment of such a center will significantly improve the image of the Russian securities market. Another focus will be on the development and implementation of advanced technologies of corporate actions processing on the securities market, including automated straight-through processing using ISO 150222 and ISO 20022 standards and e-voting during the meetings of shareholders and bondholders. These activities will be carried out in close cooperation with regulators, information agencies, registrars, issuers and NSD clients.
Prior to this appointment, Mr. Bernevega headed the Division for Interaction with Registrars and Securities Depositories at NSD. He joined NSD in July 2012 and took an active part in implementing the projects dedicated to the integration of NSD and DCC and to the CSD creation.
Pavel Solovyov will work on the development of NSD’s repository services. The active development of the Trade Repository at NSD is in line with the global trends on the financial market that emerged after the financial crisis of 2008 – increasing the transparency of the OTC derivatives market. His area of responsibility includes the enhancement of NSD’s repository technologies in accordance with the requirements of both clients and regulators, the development of proposals to improve the legislation, and NSD’s participation in the activities of international associations on the OTC market.
Pavel Solovyov joined NSD in late 2012. Prior to this, he worked at MICEX for over ten years. He started his career at MICEX as an expert of development and marketing department in the standard contracts market directorate. During the recent years at MICEX he headed the New Products Analysis and Development Service in the Center of Analysis and Development. He was involved in the development of the on-exchange derivatives market, organization of trading, development of technologies and regulatory base for the on-exchange commodities market. Mr. Solovyov was also responsible for projects related to the development of the OTC derivative market infrastructure, including the centralized clearing and the repository.