Russia’s NSD working with Bloomberg on OTC repo collateral service
Russia’s National Settlement Depository (NSD) is testing a new collateral management service for OTC repos.
The central securities depository, part of the Moscow Exchange, is working with Bloomberg on the project.
The pair plan to process repo trades with securities baskets using NSD’s collateral management system.
Eventually, the aim is to build a similar model already available for repos with the Bank of Russia and for on-exchange repos with general collateral certificates (GCC).
NSD’s tri-party service allocates colleratal for transactions on an individual basis. Securities can be substituted within the term of the transaction. Mark-to-market, margining and automated reporting are also on offer.
The commercial launch is scheduled for March 2017.
Found this useful?
Take a complimentary trial of the FOW Marketing Intelligence Platform – the comprehensive source of news and analysis across the buy- and sell- side.
Gain access to:
- A single source of in-depth news, insight and analysis across Asset Management, Securities Finance, Custody, Fund Services and Derivatives
- Our interactive database, optimized to enable you to summarise data and build graphs outlining market activity
- Exclusive whitepapers, supplements and industry analysis curated and published by Futures & Options World
- Breaking news, daily and weekly alerts on the markets most relevant to you
