NSD rolls out OTC matching offering

Russian securities depository, the National Settlement Depsitory (NSD) has begun electronic matching of all countparties to OTC trades to help cut risks for its clients.

Electronic matching helps to cut down on failed trades by automatically checking documents for an potoential errors on either side of the trade.

NSD will be able to quickly identify potential discrepancies and inform counterparties,  reducing non-performance risk as parties do not need to check large numbers of documents to identify errors, leading to settlement failure.

The service is already tested, having been in use for NSD clients for some time, but is now available to all counterparties.