The National Settlement Depository (NSD), Russia’s central securities depository, is to provide corporations with the service of submitting reports on transactions to its repository.
The reporting agent service will allow companies to send information on transactions that must be timely reported in accordance with current laws to the regulator.
The new initiative means NSD’s repository will provide the regulator with information about corporations’ transactions within three business days.
Anastasiya Kiseleva, managing director for repository operations at NSD, said: “We think that there will be a demand for the service from participants who need to provide non-recurring reports on transactions in derivatives. NSD will process the initial documents to structure information accurately to send it to the repository.”
She added: “We also see a potential demand for additional services that contribute to minimising information transaction-related costs, as well as financial risks. NSD is willing to interact with market participants to support over-the-counter transactions in derivatives. This will allow us to control data more effectively and to conduct independent evaluations of client portfolio values.”
