SPCEX launches exchange-traded repos with Bank of Russia
02 January 2018 Moscow
Image: Shutterstock
The St. Petersburg Currency Exchange (SPCEX) has launched exchange-traded repos with the Bank of Russia, using The National Settlement Depository’s (NSD) collateral management system (CMS).
The initiative, which started on 25 December 2018, will give participants the option of concluding exchange-traded repos with the Bank of Russia.
The basket of securities from the Bank of Russia’s Lombard List will be used as collateral for repos with CMS.
The CMS allows market participants to select collateral automatically, to replace bonds in the basket, and to process corporate actions on securities involved in transactions.
The NSD also revealed that Slavneft has been added to its Transit 2.0 platform, which allows companies to optimise their expenses for interacting with settlement banks, with regard to receiving and transmitting payment documents.
The Transit 2.0 is a new system for financial message exchange between banks and corporations developed by NSD on the basis of the previous Transit platform version. The system automatically exchanges payment and other documents.
Stanislav Popkov, head of corporate finance department at Slavneft, said: “The Transit 2.0 platform provides our company with efficient interactions with banks via a single channel. It will allow to save time and increase transaction reliability. The new instrument gives clear advantages to market players who hold many settlement accounts.”
Alexander Nam, managing director for technological services development at NSD, said: “We continue to expand the number of clients connected to the platform, regardless of their profiles. The Transit 2.0 platform is already appreciated by market participants, and we plan to improve its capabilities.”
The initiative, which started on 25 December 2018, will give participants the option of concluding exchange-traded repos with the Bank of Russia.
The basket of securities from the Bank of Russia’s Lombard List will be used as collateral for repos with CMS.
The CMS allows market participants to select collateral automatically, to replace bonds in the basket, and to process corporate actions on securities involved in transactions.
The NSD also revealed that Slavneft has been added to its Transit 2.0 platform, which allows companies to optimise their expenses for interacting with settlement banks, with regard to receiving and transmitting payment documents.
The Transit 2.0 is a new system for financial message exchange between banks and corporations developed by NSD on the basis of the previous Transit platform version. The system automatically exchanges payment and other documents.
Stanislav Popkov, head of corporate finance department at Slavneft, said: “The Transit 2.0 platform provides our company with efficient interactions with banks via a single channel. It will allow to save time and increase transaction reliability. The new instrument gives clear advantages to market players who hold many settlement accounts.”
Alexander Nam, managing director for technological services development at NSD, said: “We continue to expand the number of clients connected to the platform, regardless of their profiles. The Transit 2.0 platform is already appreciated by market participants, and we plan to improve its capabilities.”
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