Starting 25 December 2018, the St. Petersburg Currency Exchange (SPCEX) will give participants the option of concluding exchange-traded repos with the Bank of Russia performed using National Settlement Depository’s Collateral Management System (CMS) and settlement system.
The basket of securities from the Bank of Russia’s Lombard List will be used as collateral for repos with CMS. The CMS allows market participants to select collateral automatically, to replace bonds in the basket, and to process corporate actions on securities involved in transactions.
About National Settlement Depository
National Settlement Depository (NSD), a part of the Moscow Exchange Group, is the central securities depository* of the Russian Federation.
NSD was founded 27 June 1996. On 30 September 2018, the value of securities under custody amounted to RUB 43.5 trillion. The Bank of Russia recognized NSD as a systemically important central securities depository, settlement depository, and repository. The NSD payment system has the status of a systemically and nationally important system.
NSD offers a wide range of services to its clients, including depository services, cash and settlement services, OTC transaction registration (repository services), information services, collateral management services, and technological services.
As Russia's national numbering agency and the substitute numbering agency for the CIS, NSD is authorized to assign international ISIN, CFI and FISN codes. NSD has the status of a Local Operating Unit (LOU), which allows it to assign Legal Entity Identifiers (LEIs) to corporate clients.
The Bank of Russia has assigned NSD the status of an operator of the NSD Payment System (registered name).
NSD settles on-exchange trades and conducts a major part of OTC settlements; it services Russian and foreign securities. Currently, NSD has accounts with central securities depositories and international settlement and clearing centers of eight countries, as well as correspondent accounts with major foreign and Russian banks. NSD services securities issued by companies representing more than 40 countries.
For additional information about NSD, please visit www.nsd.ru/en.
* The central securities depository status was assigned to NSD by the Russian Federal Financial Markets Services’ Order No. 12-2761/PZ-I (dated 6 November 2012). NSD holds professional securities market participant license No. 045-12042-000100 for depository operations issued by the Russian Federal Financial Markets Services (19 February 2009), license No. 3294 for banking operations issued by the Central Bank of the Russian Federation (4 August 2016), license No. 045-00004-000010 for clearing activities issued by the Russian Federal Financial Markets Services (20 December 2012), and license No. 045-01 for repository operations issued by the Bank of Russia (28 December 2016).