NSD Confirms its Status as Local Operating Unit (LOU)
National Settlement Depository (NSD) successfully passed annual re-accreditation of the Global Legal Entity Identifier Foundation (GLEIF) and confirmed its status as Local Operating Unit (LOU) based on the results of 2020.
NSD is the first company in Russia and the CIS countries that has received accredited LOU status which allows to assign and verify, on an annual basis, LEIs (Legal Entity Identifiers) of market participants. Other services include accepting LEIs issued by other LOUs for servicing, ensuring that the information for LEI provided by participants is up to date and correct, and providing data to the LEI database maintained by the Global Legal Entity Identifier Foundation (GLEIF).
By acting as LOU, NSD contributes to the introduction of the global codification standards in the Russian and CIS markets, which improves their transparency, helps them integrate into the global market infrastructure, and simplifies and optimizes financial market transactions.
As LOU, NSD covers 30 jurisdictions, including, in addition to Russia, CIS, Western and Eastern European, and other countries, market players from which may request that NSD assign and service their LEI codes. At the request of its clients, NSD continues extending the list of covered jurisdictions. In 2020, NSD assigned 52 LEIs and verified 472 LEIs.
In 2020, NSD, together with infrastructure organizations of the CIS countries' markets, continued to work on introducing a scheme for the provision of the Local Operating Unit services using the resource of the Registration Agent. This scheme allows clients from the CIS countries to receive NSD's LEI assignment and maintenance services in their country. The Belarusian Currency and Stock Exchange (BCSE) was the first to conclude an agreement with NSD and sign a license agreement with the Global Legal Entity Identifier Foundation (GLEIF) (GLEIF), becoming a Registration Agent in its market.