Russian NSD reports bumper Q4 2014
11 February 2015 Moscow
Image: Shutterstock
The Russian central securities depository (CSD), the National Settlement Depository (NSD), has released its results for Q4 2014, reporting an increase in repo transactions and a record high of securities used as collateral.
Repo transactions with the Bank of Russia securities basket reached 3,124 operations in Q4 2013, an increase of 58 percent compared to Q4 2013.
These transactions represent RUB 21.6 trillion, a 79 percent increase on the same period in 2013.
In December 2014, the value of securities used as collateral in over-the-counter (OTC) repo transactions with the Bank of Russia with securities basket reached a record high of RUB 2 trillion,
The annual number of participants who signed up for the NSD collateral management service increased from 154 banks in 2013, to 205 in 2014.
Reports on repo transactions saw an increase of 72 percent compared to the same period in the previous year, exceeding 13,400.
The significant increases are partly attributed to changes that came in to force on 5 November 2013, meaning that it is mandatory for participants to submit reports on repo transactions and currency swaps to a repository. Before this, reports were submitted on a voluntary basis.
There has also been an increasing trend of submitting data on other types of transactions with derivatives, even though, as of yet, this is not mandatory.
November 2014 also saw the launch of a new information service as part of the corporate action reform.
The service offers information on shareholder meetings and bond repayment in respect of Russian and foreign securities in accordance with notification, result dissemination and cancellation standards, as well as corporate action notifications and cancellation advice.
Repo transactions with the Bank of Russia securities basket reached 3,124 operations in Q4 2013, an increase of 58 percent compared to Q4 2013.
These transactions represent RUB 21.6 trillion, a 79 percent increase on the same period in 2013.
In December 2014, the value of securities used as collateral in over-the-counter (OTC) repo transactions with the Bank of Russia with securities basket reached a record high of RUB 2 trillion,
The annual number of participants who signed up for the NSD collateral management service increased from 154 banks in 2013, to 205 in 2014.
Reports on repo transactions saw an increase of 72 percent compared to the same period in the previous year, exceeding 13,400.
The significant increases are partly attributed to changes that came in to force on 5 November 2013, meaning that it is mandatory for participants to submit reports on repo transactions and currency swaps to a repository. Before this, reports were submitted on a voluntary basis.
There has also been an increasing trend of submitting data on other types of transactions with derivatives, even though, as of yet, this is not mandatory.
November 2014 also saw the launch of a new information service as part of the corporate action reform.
The service offers information on shareholder meetings and bond repayment in respect of Russian and foreign securities in accordance with notification, result dissemination and cancellation standards, as well as corporate action notifications and cancellation advice.
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