National Settlement Depository (NSD), Russia’s central securities depository (CSD), has launched the Centre of Corporate Information (CIC) to provide financial institutions with a consolidated repository of key information relating to the Russian market.
The CIC will be powered by the GoldenSource EDM platform. NSD is the first Russian institution to provide this service.
Using GoldenSource to automate its data capturing and validation processes, NSD can now provide its clients with the delivery of issuer, securities, and corporate actions data. By consolidating and cleansing data in a central utility, and then making this data available using commonly accepted data standards, the depository has introduced a new level of openness and efficiency for institutions accessing the Russian market, says GoldenSource.
“There has been great demand from our clients and investors for timely, reliable and well-structured corporate information,” said Eddie Astanin, chairman of the Executive Board at NSD. “Our Corporate Information Centre provides crucial services that are highly valued by investors and market participants.”
Massimo Broggi, VP for EMEA Sales & Operations, said: “The industry is clearly looking to improve quality and timeliness of delivery of key reference data. Additionally the regulators are seeking ways to reduce systemic risk and market participants are trying to reduce their operational risk in key areas such a settlement. These requirements are clearly fostering the perfect conditions for data utilities.
“GoldenSource’s unique data architecture and importantly its extensive data model enable exchanges, depositories, and other service providers to not only generate revenue from more of their data assets but also improve quality as the trusted source. NSD, as the Russian depository, is particularly well suited to offer a utility service for Russian securities and we are seeing strong demand for this from similar institutions in other markets.”
Russia’s CSD Launches Utility Service
National Settlement Depository (NSD), Russia’s central securities depository (CSD), has launched the Centre of Corporate Information (CIC) to provide financial institutions with a consolidated repository of key information relating to the Russian market.
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