Record-breaking 2014 for Russia’s NSD
05 January 2015 Moscow
Image: Shutterstock
National Settlement Depository (NSD), Russia’s central securities depository, has reported that the value of liabilities used in over-the-counter tri-party repo transactions with the Bank of Russia reached its highest level and exceeded RUB2 trillion ($34.3 billion) in Q4 2014.
In January 2014, the value of liabilities amounted to RUB1.1 trillion ($18.8 billion).
These statistics indicate that the NSD tri-party services are in demand among the market participants involved in the Bank of Russia’s repo transactions.
Maria Ivanova, vice president of NSD, commented: “Development of tri-party services is a global trend in the post trading sector. In recent years, a share of tri-party services in the structure of settlement infrastructures’ income has risen sharply; now it is a growth driver.”
“We see the similar trend in the Russian market. In addition to the Bank of Russia’s repos with securities basket, we are ready to launch the similar service for transactions with the Federal Treasury. We also plan to launch on-exchange repos with the NSD’s tri-party services.”
As well as the value of liabilities reaching its highest level in 2014, the value of over-the-counter repo transactions serviced by NSD also peaked, exceeding RUB54 trillion ($926.7 billion).
The value of transactions for Q4 2014 also increased by 50 percent year-over-year from RUB12 trillion ($205.9 billion) to RUB18.5 trillion ($317.4 billion).
The total value of NSD’s direct repo transactions with the Bank of Russia since the beginning of 2014 stood at RUB95.5 trillion ($1.6 trillion).
NSD has also stated that it plans to provide its clients an access to Euroclear’s and Clearstream’s securities lending programmes in order to enable wider “foreign asset management opportunities for Russian market participants”.
In January 2014, the value of liabilities amounted to RUB1.1 trillion ($18.8 billion).
These statistics indicate that the NSD tri-party services are in demand among the market participants involved in the Bank of Russia’s repo transactions.
Maria Ivanova, vice president of NSD, commented: “Development of tri-party services is a global trend in the post trading sector. In recent years, a share of tri-party services in the structure of settlement infrastructures’ income has risen sharply; now it is a growth driver.”
“We see the similar trend in the Russian market. In addition to the Bank of Russia’s repos with securities basket, we are ready to launch the similar service for transactions with the Federal Treasury. We also plan to launch on-exchange repos with the NSD’s tri-party services.”
As well as the value of liabilities reaching its highest level in 2014, the value of over-the-counter repo transactions serviced by NSD also peaked, exceeding RUB54 trillion ($926.7 billion).
The value of transactions for Q4 2014 also increased by 50 percent year-over-year from RUB12 trillion ($205.9 billion) to RUB18.5 trillion ($317.4 billion).
The total value of NSD’s direct repo transactions with the Bank of Russia since the beginning of 2014 stood at RUB95.5 trillion ($1.6 trillion).
NSD has also stated that it plans to provide its clients an access to Euroclear’s and Clearstream’s securities lending programmes in order to enable wider “foreign asset management opportunities for Russian market participants”.
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