National Settlement Depository Accredited as LOU
National Settlement Depository (NSD), Russia’s central securities depository, has successfully passed all stages of the accreditation process by the Global Legal Entity Identifier Foundation (GLEIF) and has been granted Local Operating Unit (LOU) status.
NSD is the first and only company in Russia and the CIS countries that has received accredited LOU status. This is a permanent status which replaced the temporary one (pre-LOU). It confirms NSD’s compliance with GLEIF’s regulatory and technological requirements for a LOU.
NSD’s certificate of accreditation as a LOU, issued by GLEIF, is available at www.lei-code.ru, NSD’s accreditation status is also reflected at the GLEIF’s website. Based on the certificate, NSD will continue to assign Legal Entity Identifiers (LEIs) and update data about LEI owners in the global legal entity identification system.
NSD is among 21 accredited Local Operating Units worldwide.
The accreditation process included phases during which NSD developed and implemented formats and services required from organizations seeking to be accredited as LOUs, for example, a service that provides information about LEI owners in a new format (CDF 2.1), a service for disclosing 2nd level information about parent companies and their links with subsidiaries via LEIs, as well as a service for checking duplicated LEIs via the GLEIF automatic service. NSD has performed pre-LOU functions since 2013. In 2017, NSD assigned 134 new LEIs. Thus, the number of serviced LEIs increased 16% (to 969). Also, NSD verified 446 LEIs during this period.
Eddie Astanin, Chairman of the Executive Board, NSD, said: “NSD is a global player whose task it is to provide clients with innovative services, guaranteeing the services’ transparency and compliance with international standards. Receiving LOU status reflects the maturity of Russia’s post-trading infrastructure and compliance with global financial market developments.”