The Russian National Settlement Depository (NSD) has appointed two senior managers to bolster its business.

Sergey Bernevega becomes managing director for corporate information, and Pavel Solovyov is appointed managing director for trade repository development and operations.

Bernevega, who was previously head of the division for interaction with registrars and securities depositories at the NSD, will now lead activities related to providing corporate information and processing corporate actions.

He will also work on developing and implementing advanced technologies of corporate actions processing on the securities market, including automated straight-through processing using ISO 150222 and ISO 20022 standards and e-voting during the meetings of shareholders and bondholders.

Solovyov, who also joined the NSD in 2012, will work on the development of NSD’s trade repository services. The active development of the Trade Repository at NSD is in line with the global trends on the financial market that emerged after the financial crisis of 2008 – increasing the transparency of the OTC derivatives market.

Part of his remit will involve enhancing the repository technologies in accordance with the requirements of both clients and regulators, and the development of proposals to improve the legislation.