The National Settlement Depository (NSD), Russia’s central securities depository, has been granted local operating unit (LOU) status.
NSD is the first and only financial service in Russia that has received accredited LOU status after passing all stages of the accreditation process by The Global Legal Entity Identifier Foundation (GLEIF).
As well as confirming NSD’s compliance with GLEIF’s regulatory standards, the new status also affirms that NSD has successfully met all of GLEIF’s technological requirements.
The granting will be a permanent status, replacing the temporary one (pre-LOU), which NSD has been allowed to perform functions under since 2013.
Based on the certificate, NSD will also continue to assign legal entity identifiers (LEIs) and update data about LEI owners in the global legal entity identification system.
Eddie Astanin, chairman of the executive board at NSD, said: “NSD is a global player whose task it is to provide clients with innovative services, guaranteeing the services’ transparency and compliance with international standards. Receiving LOU status reflects the maturity of Russia’s post-trading infrastructure and compliance with global financial market developments.”
