National Settlement Depository (NSD), Russia’s central securities depository, began providing corporations with the service of submitting reports on transactions to the Repository. The “reporting agent” service allows companies to send information on transactions that must be timely reported in accordance with current laws to the regulator.
NSD’s Repository provides the regulator with information about corporations’ transactions subject to reporting within deadlines established by laws (within three business days).
“We think that there will be a demand for the service from participants who need to provide non-recurring reports on transactions in derivatives. NSD will process the initial documents to structure information accurately to send it to the Repository. We also see a potential demand for additional services that contribute to minimizing information transaction-related costs, as well as financial risks,” said Anastasiya Kiseleva, Managing Director for Repository Operations, NSD, – “NSD is willing to interact with market participants to support OTC transactions in derivatives. This will allow to control data more effectively and to conduct independent evaluations of client portfolio values.”