The Finance Committee of Leningrad Region Starts Using the New Digital Channel for Interaction with NSD

17 December 2021
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The Finance Committee of Leningrad Region has started using NSD’s new digital channel, the CMS Web-client, for interaction with NSD’s clearing system to invest region’s budget surpluses. This is a new step made by the Leningrad Region Finance Committee to further develop digital technologies and new tools to improve the convenience, reliability and security of investment of region’s budget surpluses.

Bank Saint-Petersburg and Severgazbank acted as counterparties of the Leningrad Region Finance Committee and the first users of the new digital channel.

In February 2021, the Finance Committee joined NSD’s Collateral Management System (NSD’s CMS) for repo trades. Over the period of February to November 2021, RUB 47.5 billion worth of liquidity was offered through NSD’s CMS.

Roman Markov, First Deputy Chairman of the Leningrad Region Government and Chairman of the Finance Committee: “In public financial management, we focus on cost reduction and workforce productivity improvement. These can be achieved by using digital technology available in the financial market infrastructure.”

Alina Akchurina, Managing Director for Collateral Management and Tri-Party Services, NSD: “NSD’s technologies are applied by most financial market participants. For instance, the CMS platform is intensively used in transactions of the Bank of Russia and Federal Treasury, recently joined by Russian regions to offer liquidity. NSD offers infrastructure-based, convenient and reliable solutions that meet the needs of our clients in terms of effective money management.”

Varvara Ponomareva, Deputy Head of Financial Markets, Bank Saint Petersburg: “In the modern age of speed, effective communication channels that help business timely address their needs are evermore crucial. We are always here to support convenient technological solutions offered by the infrastructure.”

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