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Creation of a trade repository in Russia in light of global trends on the world derivatives market

Creation of a trade repository in Russia in light of global trends on the world derivatives market. Moscow 2011. New financial regulations on the US and EU markets. Challenges of 2007-2008. Lack of information regarding the OTC market. Instability on the financial markets. Dodd-Frank (2010).

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Creation of a trade repository in Russia in light of global trends on the world derivatives market

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  1. Creation of a trade repository in Russia in light of global trends on the world derivatives market Moscow 2011

  2. New financial regulations on the US and EU markets Challenges of 2007-2008 Lack of information regarding the OTC market Instability on the financial markets Dodd-Frank (2010) EMIR (2011) Basel III (soon)

  3. G20 and CPSS/IOSCO recommendations Both G20 and CPSS/IOSCO emphasized the role of trade repositories in further development of OTC derivatives market

  4. Russian OTC repo and derivatives market • Key weaknesses: • Weak reporting standards • No trade repository as of now • No CCP for clearing derivatives • The risk of collapsing in crisis situation due to participants’ defaults • The fear of second wave of crisis on the market • The main problems are much the same as on the foreign markets

  5. Russian legislation progress towards a trade repository Changes to the laws “On Banks and Banking Activity”, “On Securities Market”, “On Bankruptcy” Law “On Clearing Activity” By-laws of FFMS to setup regulatory standards for submitting and storing information (OTC repos and derivatives reporting) New New Soon Close-out netting Trade repository (repos and derivatives)

  6. Who needs a trade repository

  7. Creation of a trade repository by NSD Existing EDI technology NSD Simple standards for submitting information Databases and protection mechanisms Processing speed and reliability Wide number of NSD customers and EDI members Easy access

  8. Contacts • Client Services Division: • Tel.: +7 (495) 956-27-90/91/92/93; • +7 (495) 956-09-40; • +7(495) 745-81-45; • +7 (495) 234-48-65 E-mail: dc@ndc.ru, marketing@ndc.ru • Client Relations Development Department: Tel.: +7 (495) 2349960 • Web-sites: www.nsd.ru, www.isin.ru • Address: 13, bldg. 1, Mashkova St., Moscow, 105062, Russia

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