On 17 September 2013, National Settlement Depository (NSD), Russia's central securities depository, organized a roundtable “Russian CSD: New Opportunities.” The event was a part of the program of Sibos2013, the major international financial forum held in Dubai.
The panel discussion was focused on the key events and changes related to the formation of the central securities depository in Russia; these developments affected not only the post-trading infrastructure but also Russian stock market in general.
Among the roundtable's participants were more than 60 representatives of largest financial institutions of Europe, America and Asia, including global custodians, regional banks and central securities depositories.
NSD and CSD.Austria, Austria’s central securities depository operated by OeKB, signed the foreign nominee account agreement within the framework of the event.
Eddie Astanin, Chairman of the Executive Board, NSD, summed up results of the event: “We are happy to see the investors’ and forum participants’ keen interest in Russian infrastructure and changes happening there, especially in the changes associated with formation of the central securities depository. Our foreign colleagues are impressed with a high rate and a great scale of changes that have taken place over the last two or three years in Russian market. These changes will obviously lead to increased liquidity and competitiveness of Russian market.”
Elena Gusalova, Director of Research and Development Department, NSD, presented her report to the participants of the Sibos2013 session “The Regulatory Environment in Russia: Challenges and Opportunities” dedicated to regulatory changes in Russian financial market and to formation of the central securities depository on the basis of which a Russian trade repository had been created.
Ms. Gusalova emphasized that “the main driver for the creation of the trade repository was reducing risk. The events of 2008 showed that it is necessary to create a clear and transparent picture of OTC trades and volumes. It has been huge work, not only for NSD but also for market participants.”
About Sibos
Every year Sibos brings together some 7,000 global specialists, including leading representatives of financial institutions, market infrastructures, multinational corporations and technology partners, to discuss issues of doing business and shaping the future of the financial industry. Covering the entire industry of financial services, Sibos functions as a unique forum for sharing experience and making collective decisions in respect of cash and securities management and trade.
For additional information about Sibos please visit www.sibos.com
About NSD
National Settlement Depository (NSD) is the central securities depository of the Russian Federation, a part of the Moscow Exchange Group. The company was founded on 27 June 1996.
NSD is Russia's national numbering agency and the substitute numbering agency for the CIS, authorized to assign the international ISIN and CFI codes. The international rating agency Thomas Murray has assigned NSD an AA- rating as a central securities depository. Total value of assets on deposit with NSD amounted to RUB18.7 trillion as of 30 August 2013.
The status of central securities depository was assigned to NSD by the Russian Federal Financial Markets Service’s order on 6 November 2012.
NSD holds professional securities market participant license #177-12042-000100 for depository operations issued by the Russian Federal Financial Markets Service on 19 February 2009, license #3294 for bank operations issued by the Central Bank of the Russian Federation on 26 July 2012 and license #077-00004-000010 for the clearing activities issued by the Russian Federal Financial Markets Service on 20 December 2012.
Registered office: 12, Spartakovskaya St., Moscow 105066, Russia
For additional information about NSD please visit www.nsd.ru or connect NSD Public Affairs Division.
NSD Public Affairs Division: +7 495 232 0910
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