Russia’s central securities depository, NSD, has gone live with its centre of corporate information, which will provide financial institutions with a consolidated repository of information relating to the Russian market.
It is the first service of its kind in Russia, and the system is powered by GoldenSource.
GoldenSource’s automation of the data capture and validation processes has enabled NSD to provide an essential service to its clients: the delivery of issuer, securities, and corporate actions data that is well-structured, reliable and ready to use, said a statement from GoldenSource.
By consolidating and cleansing data in a central utility, and then making this data available using commonly accepted data standards, the depository aims to introduce a new level of openness and efficiency for institutions accessing the Russian market.
“There has been great demand from our clients and investors for timely, reliable and well-structured corporate information,” said Eddie Astanin, chairman of the executive board at NSD.
Massimo Broggi, vice president for EMEA sales and operations at GoldenSource, said: “The industry is clearly looking to improve quality and timeliness of delivery of key reference data. Additionally the regulators are seeking ways to reduce systemic risk and market participants are trying to reduce their operational risk in key areas such a settlement. These requirements are clearly fostering the perfect conditions for data utilities.”
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