Russia’s central securities depository, the National Settlement Depository (NSD) and the ESMA-registered CME European Trade Repository (ETR) have announced that Russian market participants will be able to report over-the-counter (OTC) transactions with European counterparties.
Using the NSD, traders will be able to report OTC cross-border transactions in accordance with the EMIR requirements.
Reporting will be launched simultaneously with the second stage of reporting on contracts representing derivatives concluded on the basis of master agreements, in April 2015.
The list of reportable derivative trades will be expanded, allowing information about these types of trades to be submitted to the repository. Traders will be able to send reports on OTC cross-border transactions using new massaging formats and communications channels.
