Russia’s central securities depository, the National Settlement Depository (NSD), has become the first Eastern European bureau to achieve SWIFT’s 'premier' certification status.
According to NSD, the classification will allow it to guarantee its clients the maximum level of safety and reliability when using NSD for SWIFT system work.
SWIFT’s divides its users into two safety profiles: standard and premier.
The higher level requires that a service bureau backs up SWIFT's technical infrastructure and uses control procedures equivalent to the SWIFT level, thereby offering clients a safe working environment. The service bureau can then secure a level of protection and reliability that is identical to direct connection to the system.
The addition of NSD to this top-tier group brings the total number of service bureaus to 14. Seven of these are in Europe, with the remainder in the Americas.
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