Russian NSD, Eurasian Registrar Adopt Electronic Data Exchange System

Russias National Settlement Depository (NSD) and the Kazan Branch of Eurasian Registrar (ER) have adopted an electronic data interchange (EDI) system in their information interactions. NSD says the use of EDI technology will allow accelerated document interchange and processing decreased

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Russias National Settlement Depository (NSD) and the Kazan Branch of Eurasian Registrar (ER) have adopted an electronic data interchange (EDI) system in their information interactions.

NSD says the use of EDI technology will allow accelerated document interchange and processing; decreased risks of error and fraud; increased operational efficiency and processing of securities owners’ lists in the course of corporate actions; and enhanced confidentiality between two organizations.

ER’s Kazan branch will enter records of transactions made in customer accounts of NSD acting as a nominal holder and provide information on NSDs customer accounts opened in registers, on the basis of electronic data, NSD says. Paper copies of electronic data will only be provided where required by current Russian Federation legislation, on terms determined by corresponding agreements of the parties.

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