Regulatory Oversight Committee (ROC), an international supervision organization regulating and controlling Global Legal Entity Identifier System’s (GLEIS) functioning, has made a decision to integrate National Settlement Depository (NSD), Russia’s central securities depository, into GLEIS as a globally endorsed pre-Local Operating Unit (pre-LOU), confirming NSD’s compliance with the principles that should be followed by a pre-LOU.
The recognition by the global regulator means that all pre-LEIs assigned by NSD by this moment and after ROC’s endorsement of NSD should be globally accepted by regulators, market participants and pre-LOUs of other countries on equal terms with the codes assigned by other pre-LOUs endorsed by ROC. Therefore, legal entities received the codes from NSD may submit them to their counterparties for conducting transactions in the international markets.
NSD joined the project of GLEIS formation with the support of Russian Authorities; on 1 March 2013 ROC assigned the pre-LOU status and prefix to NSD upon these organizations’ request. GLEIS is being created in following the G20 decision aimed at improving transparency in financial markets and strengthening control over systemic risks.
The official announcement is available on ROC’s web site.