OREANDA-NEWS. National Settlement Depository (NSD), Russia's central securities depository, organized a roundtable “Russian CSD: New Opportunities.” The event was a part of the program of Sibos2013, the major international financial forum held in Dubai.

The panel discussion was focused on the key events and changes related to the formation of the central securities depository in Russia; these developments affected not only the post-trading infrastructure but also Russian stock market in general.

Among the roundtable's participants were more than 60 representatives of largest financial institutions of Europe, America and Asia, including global custodians, regional banks and central securities depositories.

NSD and CSD.Austria, Austria’s central securities depository operated by OeKB, signed the foreign nominee account agreement within the framework of the event.

Eddie Astanin, Chairman of the Executive Board, NSD, summed up results of the event: “We are happy to see the investors’ and forum participants’ keen interest in Russian infrastructure and changes happening there, especially in the changes associated with formation of the central securities depository. Our foreign colleagues are impressed with a high rate and a great scale of changes that have taken place over the last two or three years in Russian market. These changes will obviously lead to increased liquidity and competitiveness of Russian market.”

Elena Gusalova, Director of Research and Development Department, NSD, presented her report to the participants of the Sibos2013 session “The Regulatory Environment in Russia: Challenges and Opportunities” dedicated to regulatory changes in Russian financial market and to formation of the central securities depository on the basis of which a Russian trade repository had been created.

Ms. Gusalova emphasized that “the main driver for the creation of the trade repository was reducing risk. The events of 2008 showed that it is necessary to create a clear and transparent picture of OTC trades and volumes. It has been huge work, not only for NSD but also for market participants.”