National Settlement Depository, the Russian central securities depository (CSD), saw a 13 percent increase in assets under custody in Q3 2016.
NSD reported assets under custody of RUB 33.6 trillion ($533.9 billion) in Q3 2016, compared to RUB 29.6 trillion ($470.2 billion) in Q3 2015.
The CSD also saw an increase in the number of securities issued from about 9,300 in Q3 last year to about 11,000 this year.
The value of money transfers, however, saw a decline of 8 percent from RUB 89.7 trillion ($1.43 trillion) to RUB 82.6 trillion ($1.31 trillion) in Q3 this year.
Trades registered on the NSD’s repository reached 126,800, some 17.6 percent more than in the same period last year, which totalled 107,800 trades. However, the total value of registered trades also decreased from RUB 105.3 trillion ($1.67 trillion) last year to RUB 99.5 trillion ($1.58 trillion), marking a 5.5 percent decrease.
This follows the introduction of a mechanism enabling users to report on trades concluded beyond master agreements, which was made mandatory on 9 October.
As part of the repository 2.0 project, NSD allows client to refrain from indicating principle reporting agents and to provide hard copes of power of attorneys.
The value of off-exchange delivery-versus payment transactions increased to RUB 1.2 trillion ($19.1 billion), more than double that recorded in the same period last year, which totalled RUB 585.4 billion ($9.31 billion).
July 2016 saw the introduction on a new legal framework under the NSD’s corporate actions reform.
In Q3 2016, 550 shareholder meetings were held using the new e-proxy technology based on ISO 20022, compared to 41 held in the same period last year. Some 1,160 corporate actions were held on foreign securities, compared to 562 in Q3 2015.
Repo transactions with the Russian Federal Treasury through NSD’s collateral management system more than doubled in Q3 2016.
NSD’s clearing value for the quarter exceeded RUB 10 trillion (&159 billion), up from RUB 4.6 trillion ($73.12 billion) in Q3 2015.
The depository’s recorded transactions grew to 495 from 334 year-on-year.
However, the value of NSD’s repo transactions with the Bank of Russia conducted through the depository’s collateral system dropped significantly in Q3 2016, compared to the same period in 2015.
Cleared repo between the central bank and NSD stood at RUB 3 trillion ($47.7 billion), down from RUB 8.1 trillion ($128 billion).
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