NSD Starts Publishing IFRS 13 Fair Value Hierarchy and Opens Test Access to Corporate Eurobonds Pricing

15 August 2019
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In September 2019, the Valuation Center of National Settlement Depository (NSD) will update its product line expanding the range of provided data, as well as the quantity of valuated instruments.

Starting 1 September 2019, NSD Valuation Center will disclose information about input data levels contributing to the fair value calculation (the method number) and will publish yields on evaluated bonds. NSD decided to broaden the range of data provided based on consultations with representatives of the Professional Association of Registrars, Transfer Agents, and Depositories (PARTAD), and the National Association of Securities Market Participants (NAUFOR) for the market participants to be able to meet the IFRS 13 requirements with a single pricing source.

The Valuation Center’s extended data, including detailed parameters of the valuation models, are distributed only via the RU Data Price product of the Interfax Group, as part of the strategic partnership between NSD and Interfax.

From early September, NSD Valuation Center will publish the fair values of Russian corporate Eurobonds significantly broadening the range of evaluated instruments. The valuation methodology was approved by the Expert Council of the Valuation Center. The valuation model focuses on OTC market, takes into account a borrower’s individual risk and uses Interfax’s Eurobond indices. The product is available for testing for market participants in August.
Moreover, in late September 2019 NSD Valuation Center plans to start evaluating ruble bonds without international credit ratings based on the score model assessing the realted credit risk.

«In autumn 2019, with the Eurobonds and the unrated bonds products, NSD Valuation Center will cover all debt instruments on the Russian market. Being the only officially accredited valuation center by the Bank of Russia, NSD provides maximum coverage, transparency of the methodologies, quality monitoring in line with CBR’s requirements, and focus on IFRS requirements. Thus, we create the benchmark for all market participants and regulators, as well as financial information providers,» stated Alexander Diakovskiy, Chief Data Officer, NSD.

Starting September 2019, clients may access all Valuation Center products via the new interface at nsddata.ru. Along with integrating the Valuation Center’s products into internal systems via REST API, users will be able to view data on the website or download it for analysis in the EXCEL format. During August 2019 the clients may test the new interface free of charge.

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