Moscow’s NSD in the black 28 January 2014Moscow Reporter: Daniel Jackson
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National Settlement Depository (NSD), Russia’s central securities depository, has summed up its operating results for 2013.
NSD was also rated by Thomas Murray, which assigned the company an “AA-“ rating as a CSD. Total value of assets on deposit with NSD amounted to RUB21.8 trillion ($630 billion) as of 31 December 2013.
In 2013, NSD’s customers’ cash accounts turnover and its securities turnover increased to RUB367.2 trillion ($10.6 trillion) and RUB168.1 trillion ($4.9 trillion) respectively. This represents a rise of 39.8 percent and 27.8 percent over 2012.
NSD's revenues for 2013 according to RAS reached RUB33.5 billion ($967.8 million), which is 150 percent more than in 2012. The company's expenditures for 2013 stood at RUB29.9 billion ($863.7 million).
The company's net profit for 2013 grew 1.6 percent over the previous year, up to RUB3.6 billion ($103.4 million).
In its report, the depository cautioned that the value of securities held in NSD accounts is an operational indicator that does not include the market value of balance of assets held in issuers’ accounts.
Eddie Astanin, chairman of the NSD executive board, commenting on the results for 2013, said: “2013 was the year for the formation of the central securities depository in Russia and large scale changes in the Russian financial market. The central depository, NSD, has been recognised by the global financial community as an eligible depository for the safekeeping of assets.”
“Global investors have gained direct access to the Russian governmental debt market via Euroclear and Clearstream accounts with NSD. In 2013, NSD fulfilled such important projects as collateral management in the market of the Bank of Russia’s OTS repos with the basket of securities, clearing and DVP settlements in foreign currency on the OTC translations with securities, as well as record keeping of the OTC transactions with derivatives in the repository.”
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