NSD CMS federal treasury repos value grew by nearly 5 times in a year
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NSD CMS federal treasury repos value grew by nearly 5 times in a year 06 June 2019Moscow Reporter: Jenna Lomax
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The value of federal treasury repos conducted via the collateral management system (CMS) of Russia’s National Settlement Depository (NSD) amounted to RUB 5.3 trillion in Q1 2019, 4.9 times more than in Q1 2018.
The average repo maturity increased from three to seven days.
NSD noted this increase was due to floating rates linked to the Bank of Russia.
In Q1 2019, the total volume of Bank of Russia repos reached RUB 192 billion. The total number of clients connected to the CMS was 160.
In Q1 2019, the number of trades registered with NSD’s repository grew to 3.1 million compared with 2.8 million in Q1 2018.
The value of the registered transactions was 20 percent more than in the same period of 2018– RUB 120.8 trillion (RUB 100.6 trillion in Q1 2018).
At the end of 2018, NSD implemented integration with Moscow Exchange’s over-the-counter system and in March 2019, the NSD became the first central securities depository to sign up for SWIFT’s gpi service.
The gpi is a cross-border payments service that provides real-time payments tracking and transparency on bank fees and foreign exchange rates.
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