Thomas Murray Finds NSD Broadly Observant of CPSS-IOSCO Principles

Thomas Murray has conducted a third-party review of Russia's central securities depository (CSD), National Settlement Depository (NSD), in regards to its level of observance of the CPSS-IOSCO Principles for Financial Market Infrastructures (PFMIs), and Thomas Murray concluded that NSD is "broadly" observant overall of the principles.
By Jake Safane(2147484770)
Thomas Murray has conducted a third-party review of Russia’s central securities depository (CSD), National Settlement Depository (NSD), in regards to its level of observance of the CPSS-IOSCO Principles for Financial Market Infrastructures (PFMIs), and Thomas Murray concluded that NSD is “broadly” observant overall of the principles.

Of the 24 PFMIs, the results show that NSD “fully” observes six, “broadly” observes ten, “partly” observes 2, and there are six others that are not applicable to NSD, as some of the principles fall outside the scope of a CSD. There are no applicable PFMIs that NSD does not observe.

“CPSS-IOSCO Principles implementation is one of NSD’s core tasks in respect of the ‘Strategy for Risk management development,’ says Eddie Astanin, chairman of the executive board of NSD. “The exercise has helped us to identify key areas of focus in order to improve our level of observance of the CPSS-IOSCO’s Principles for FMIs for the next few years, as well as to get independent recommendations, which include expectations of international investors regarding the NSD risk management. NSD Supervisory board and top management always pay close attention to the risk-management system, aimed at securing the sustainable functioning of all NSD information systems and services as a CSD, system-relevant payment services provider, clearing organization and repository.”

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