Russia’s NSD Eyes Asian Partnerships Following IOSCO MMOU

Russia’s central securities depositary (CSD) has welcomed plans to sign a Multilateral Memorandum of Understanding (MMOU) with the International Organization of Securities Commissions (IOSCO), in relation to financial agreements with Russia.
By Amy Saul(2147489671)
Russia’s central securities depositary (CSD) has welcomed plans to sign a Multilateral Memorandum of Understanding (MMOU) with the International Organization of Securities Commissions (IOSCO), in relation to financial agreements with Russia.

The planned MMOU will be key for Russia’s CSD, the national settlement depositary (NSD), as it eyes new partnerships in Asia.

“The signing of the MMOU with IOSCO is a long-awaited and necessary act,” says Eddie Astanin, chairman of the executive board, NSD.

“This recognition simplifies a procedure of building the bilateral links with the infrastructures of the IOSCO regions, in particular, with Asian central securities depositories from Hong Kong and Singapore.”

The MMOU follows an assessment from Thomas Murray Data Services, a specialist custody rating and risk management firm, which maintained the CSD rating for Russia’s National Settlement Depository (NSD) at AA-. This rating indicates a ‘very low overall risk’.

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