The value of assets involved in the Bank of Russia’s OTC repo transactions with a basket of securities, in respect of which National Settlement Depository (NSD) as an agent provides collateral management services, exceeded RUB120 billion as of 4 September 2013. Since the launch of the service, over 1,000 transactions have been held; more than 110 banks have joined the system.
On 15 April 2013, NSD together with the Bank of Russia and Bloomberg began providing services allowing commercial banks to conclude the Bank of Russia’s repo transactions with a basket of securities. As part of servicing these transactions, NSD provides collateral management services, clearing services and securities and cash settlement services to market participants.
The unique collateral management system created by the Bank of Russia and NSD allows to select securities used as collateral for repo transactions automatically, to assess them regularly, to submit and pay margins, and to replace collateral securities. Owing to these features of the Bank of Russia’s repo transactions, the banks can increase their asset management efficiency and decrease costs associated with the receipt of the Bank of Russia’s liquidity.
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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