Russian NSD and NCC 'systematically important'
29 September 2014 Moscow
Image: Shutterstock
The Central Bank of the Russian Federation has recognised National Settlement Depository (NSD), Russia’s central securities depository, and National Clearing Centre (NCC) as ‘systemically important’ infrastructure for Russia’s financial market.
NSD has been recognised by the Bank of Russia as a ‘systemically important’ central securities depository, a ‘systemically important’ settlement depository and a ‘systemically important’ repository.
NCC has been recognised as a ‘systemically important’ central counterparty.
Alexander Afanasiev, CEO of Moscow Exchange, said: “The assignment of a status of ‘systemically important’ infrastructure for the financial market to two companies of the Moscow Exchange Group, [NSD and NCC], emphasises the special role that they play in ensuring the stability of Russia’s financial system.”
“Both organisations already have special statuses and require special regulation: in 2013, the regulator assigned the status of a central securities depository to NSD, and the status of a qualified counterparty to NCC.
The aggregate value of securities on deposit with NSD amounts to $578.8 billion; the NCC’s asset value exceeds $21.7 billion, and the average daily value of clearing operations stands at approximately $30.3 billion.
NSD has been recognised by the Bank of Russia as a ‘systemically important’ central securities depository, a ‘systemically important’ settlement depository and a ‘systemically important’ repository.
NCC has been recognised as a ‘systemically important’ central counterparty.
Alexander Afanasiev, CEO of Moscow Exchange, said: “The assignment of a status of ‘systemically important’ infrastructure for the financial market to two companies of the Moscow Exchange Group, [NSD and NCC], emphasises the special role that they play in ensuring the stability of Russia’s financial system.”
“Both organisations already have special statuses and require special regulation: in 2013, the regulator assigned the status of a central securities depository to NSD, and the status of a qualified counterparty to NCC.
The aggregate value of securities on deposit with NSD amounts to $578.8 billion; the NCC’s asset value exceeds $21.7 billion, and the average daily value of clearing operations stands at approximately $30.3 billion.
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