Russia’s NSD and Bloomberg testing new repo collateral management service

In December 2016, as part of the development of the Moscow Exchange Group’s services, National Settlement Depository (NSD) and Bloomberg began testing a new collateral management service for OTC repos.

The new service will allow the processing of repo transactions with securities basket using NSD’s collateral management system by means similar to the functionality available for repos with the Bank of Russia, Federal Treasury and for on-exchange repos with general collateral certificates (GCC).

NSD’s tri-party service is focused on increasing reliability and convenience in the execution of repo transactions and includes the following features:

Collateral for transactions is formed on an individual basis and has flexible settings;
Securities can be substituted within the term of the transaction;
Access to the system via NSD’s Web-Client;
Mark-to-market and margining;
Automated reporting on transactions to the NSD Repository.

The commercial launch of the service is scheduled for March 2017.

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