Slavneft, Russia’s oil and gas company, has connected to the Transit 2.0 platform of National Settlement Depository (NSD), Russia’s central securities depository. The service will let the company optimize its expenses for interacting with settlement banks with regard to receiving and transmitting payment documents.
The Transit 2.0 is a new system for financial message exchange between banks and corporations developed by NSD on the basis of the previous Transit platform version. The system automatically exchanges payment and other documents, including ISO 20022 messages.
“The Transit 2.0 platform provides our Company with efficient interactions with banks via a single channel. It will allow to save time and increase transaction reliability,” said Stanislav Popkov, Head of Corporate Finance Department, Slavneft. “The new instrument gives clear advantages to market players who hold many settlement accounts.”
“We continue to expand the number of clients connected to the platform, regardless of their profiles. The Transit 2.0 platform is already appreciated by market participants, and we plan to improve its capabilities,” added Alexander Nam, Managing Director for Technological Services Development, NSD.