On 22 June, National Settlement Depository (NSD), Russia’s central securities depository, held the 2nd Conference on Repository Operations: “Regulation Transforming the Financial Industry”. The event was supported by the Bank of Russia. Among the participants of the conference were representatives of financial organizations that already cooperate with the NSD Repository, as well as specialists from non-financial companies which should report their transactions to the repository in autumn 2016.
The Bank of Russia’s representatives – Irina Pantina, Economic Advisor of the Financial Stability Department, and Ekaterina Abasheeva, Head of the Expert Group of the Financial Markets Department – outlined key trends of development of a trade repository institution in Russia and globally, and described the current situation and future plans in this sphere. In particular, they referred to the provisions of the Federal Law “On the Securities Market” related to repository activity requirements with effect from 28 June. The Bank of Russia’s speakers also discussed the outlook of implementation of the Unique Product Identifier (UPI) on the Russian market.
Anastasia Kiseleva, Managing Director for Repository Operations, NSD, presented the Repository’s performance and achievements since the last conference, highlighted the progress of the Repository 2.0 project and tasks for 2017.
The NSD Repository is the first repository in Russia; it was launched in 2013. In September 2014, the repository was recognized by the Bank of Russia as systemically important repository. To date, the NSD Repository services more than 1,100 customers, including banks, dealers, brokerage and asset management companies.