Thomas Murray gives NSD the thumbs up 23 May 2014London Reporter: Tammy Facey
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Thomas Murray has audited NSD and found that it is broadly observant of the CPSS IOSCO PFMIs.
Thomas Murray has independently reviewed the National Settlement Depository’s level of observance of the CPSS IOSCO Principles for Financial Market Infrastructures (PFMIs).
There are 24 principles, all of which the NSD observes. According to Thomas Murray, the NSD ‘fully’ observes six, ‘broadly’ observes 10, and ‘partly’ observes two of the principles. Six remaining principles are not applicable.
Eddie Astanin, chairman of the executive board at the Russian central securities depository, said: “The exercise has helped us to identify key areas of focus in order to improve our level of observance of the CPSS-IOSCO’s Principles for FMIs for the next few years.”
“We appreciate the work undertaken by Thomas Murray, as its results have brought an international perspective to our own self-assessment.”
“Our analysis shows that NSD has already incorporated many of the required elements to observe the principles, although there are some areas that require additional improvement,” added Simon Thomas, CEO and chief ratings officer of Thomas Murray.
The Committee of Payment and Settlement Systems is a part of the Bank for International Settlements. It sets benchmarks and standards for payment, clearing and securities systems and cross-border and multicurrency schemes.
The International Organization of Securities Commissions promotes adherence to internationally recognised standards for securities regulation. It works with the Financial Stability Board on the global regulatory reform agenda.
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