Activity and revenue at National Settlement Depository (NSD), Russia's central securities depository (CSD), have soared in the first full quarter since the institution was named the country's official CSD last November.
In its quarterly report covering the first quarter of 2013, issued today, NSD says cash accounts turnover and securities turnover increased to RUB108.056 trillion and RUB45.431 trillion, respectively, representing an 83.9% and 65.8% rise over the same period last year.
Revenues in the first three months of 2013 reached RUB4.045 billion, an increase of 44.5% over the first quarter of 2012. Expenses, consequently, including tax profit payments, rose by just over 50% over Q1 2012.
The value of securities in depository accounts opened with NSD rose 43.5% in the first quarter of the year alone to RUB17.295 trillion. The number of securities on deposit with NSD increased by 18.1% in the quarter to 21,391 trillion securities from 3,805 issuers.
NSD was named Russia's official CSD last year following a major overhaul of the market infrastructure in the country, which included the mergers of MICEX and RTS, its two leading exchanges, and their respective depositories, NSD and Depository Clearing Company (DCC). For more, see "Reform, in overdrive," Spring 2012.