Russia’s National Settlement Depository (NSD), part of the Moscow Exchange Group, today reported some key operating metrics for its performance in the third quarter of 2015.
The NSD noted the rise in the value of assets under its custody, as well as the increase in the number and value of reported transactions. The latter is worth noting, as the requirement for mandatory reporting of all derivatives transactions was not in force during the third quarter.
Central Securities Depository’s Services
- In Q3 2015, the value of assets under custody with NSD, Russia’s central securities depository, reached RUB 29.6 trillion ($457.8bn), up 28% from the result of RUB 23.2 trillion registered in Q3 2014.
- The number of securities issues serviced by NSD increased 6.5% – from 7,750 to 8,253.
- The number of book-entry transactions at the CSD in Q3 2015 slightly decreased – from 632,000 in Q3 2014 to 609,000 in Q3 2015 (-3.7%).
- In Q3 2015, the number of stock exchange transactions was 490,200, against 496,000 in Q3 2014. The number of OTC transactions amounted to 118,300 – this was 13% less than in the same period of the previous year. In Q3 2015, the value of OTC DVP transactions increased considerably and reached RUB 585.4 billion; this was 17.5% higher than in Q3 2014.
The Collateral Management System
The service of collateral management used to conduct repo transactions with the Federal Treasury, which had been launched in Q2 2015, showed great dynamics in Q3 2015. The value of repo transactions with the Federal Treasury amounted to RUB 4.6 trillion in the three-month period to September 30, 2015.
The value of repo transactions with the Bank of Russia conducted with the use of the NSD collateral management services decreased from RUB 11.6 trillion in Q3 2014 to RUB 8.1 trillion in Q3 2015. Meanwhile, in Q3 2015, the number of repo transactions with the Bank of Russia conducted with the use of the NSD collateral management service rose 21.6% YoY from 1,879 to 2,284.
In total, the value of transactions conducted with the use of the NSD collateral management stood at RUB 12.7 trillion, up 11% from the RUB 11.6 trillion registered in Q3 2014.
- The number of clients reached 1,178 (1,078 in Q3 2014);
- The number of registered transactions grew 44.5% to 107,800 (74,600 in Q3 2014);
- The value of registered transactions grew more than 60% to RUB 105.3 trillion (RUB 64.2 trillion in Q3 2014).
- In addition, market participants continued to voluntarily submit reports on transactions which were non-mandatory until 1 October. In Q3 2015, the most intensive reporting was observed on currency forwards (more than 61,000 transactions were registered) and currency swaps (37,600 transactions).
- In Q3 2015, the currency swaps value was the highest and amounted to RUB 77.1 trillion; the value of OTC repo transactions stood at RUB 17.2 trillion. The participants also submit reports on currency and commodity options, securities options, commodity forwards, etc.
The Corporate Actions Center
Since April 1, 2015, Russian issuers have been able to use the e-proxy voting technology based on ISO 20022. In Q3 2015, 25 shareholder meetings were conducted with the use of the e-proxy voting technology based on ISO 20022.
Payment system and cash settlements
In Q3 2015, the value of money transfers made upon instructions of NSD’s clients increased 22% YoY and reached RUB 89.7 trillion (compared with RUB 73.6 trillion in Q3 2014).
You can view the full announcement from NSD by clicking here.