OREANDA-NEWS. December 13, 2012. On 7 December, National Settlement Depository (NSD), Russia's central securities depository, submitted to the Russian Federal Financial Markets Service (FFMS) notification of NSD’s intention to maintain a register of repo and currency swap contracts in accordance with repository services agreements concluded with its customers. To date NSD has concluded repository agreements with 78 organizations.

NSD will begin maintaining a register of contracts on these financial instruments starting on the date of publication of information about NSD’s repository on the web site of FFMS.

During the testing of the repository’s technologies conducted from 15 October to 7 December by NSD jointly with its clients, the company successfully registered over 150 general agreements and transactions, and checked all regimes of the repository’s functions. The results of the testing are available on NSD’s web site (in Russian).

To minimize client costs at the first stage of the repository’s functioning, NSD introduced a repository services rates discount for the input of information in the register of contracts. The promotional period applies from 10 December to the date of publication of information about NSD’s repository on the web site of FFMS. An additional promotional period during which the maximum monthly cost of NSD’s service for registration of information about repos in the register of contracts will not exceed RUB100,000 will begin on the day of publication of information about NSD’s repository on the web site of FFMS and will remain in effect until 1 April, 2013.
 More information about the company’s repository services and terms is available at NSD’s web site (in Russian).