On 22 October 2015, National Settlement Depository, Russia’s central securities depository (NSD), took part in the 8th Annual Ural Conference “Russian Stock Market” organized by the Russian National Association of Securities Market Participants (NAUFOR) in Yekaterinburg, Russia. Among the conference delegates were professional participants of the securities market (asset management companies and brokerage firms), representatives of regulators, heads of financial companies and bankers.
Key discussion topics included development issues of Russia’s professional participant industry (asset management companies and brokerage firms), in particular, the facilitated public access to operations on the stock market, the strengthened role of self-regulatory organizations, changes in accounting procedures and reports of professional participants and asset management companies, as well as new financial products.
Olga Usanova, Head of the Centralized UIT Units Record Keeping System Project, NSD, presented the company’s new project to the guests of the conference. This initiative is aimed at development of conditions and infrastructure enabling to form an open sales architecture on the primary investment unit market. It is intended to create new distribution channels and to facilitate investments in the collective investment market.
The project also involves a unification of formats and standards for data exchange, an increased transparency and standardization of information disclosure. It will be implemented in several stages. By September 2016, at the first stage, it is planned to create an automated system of purchasing, repayment and units exchange between broker companies’ clients using the two level nominee scheme; in addition, the company will develop and support formats of the collective investment market in compliance with the ISO 20022 international standard.