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Repository Services Guide to connection and functions 11 September 2012 Eddie Astanin Chairman of the Executive Board.

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Presentation on theme: "Repository Services Guide to connection and functions 11 September 2012 Eddie Astanin Chairman of the Executive Board."— Presentation transcript:

1 Repository Services Guide to connection and functions 11 September 2012 Eddie Astanin Chairman of the Executive Board

2 Legal basis for Repository functioning on the Russian market Federal law № 7-FZ «On clearing activity» (p. 18) Federal law № 127-FZ «On bankruptcy» Code «On administrative offences» (p. 15.19) Bank of Russia Letter № 21-Т «On Master agreement of executing repo deals on common terms on securities market» FFMS Order № 11-62/pz-n FFMS Order № 11-68/pz-n «On bookkeeping registrar of contracts executed under Master agreement (common agreement)» 2

3 G20 and CPSS / IOSCO recommendations Both G20 and CPSS/IOSCO emphasized the role of trade repositories in further development of OTC derivatives market 3 Standardization of contracts CPP clearing Trading via exchange or electronic platform Reporting to trade Repository Gathering information on contracts executed on OTC market Efficient access to Repository data Standardized legal entities identification OTC derivatives classification development G20 CPSS / IOSCO

4 Repository functions 4 Gathering and registering information on derivative and repo contracts, signed under Master agreements Bookkeeping of contracts registrar Providing confirmations to clients and authorities on registered contracts Information safekeeping and ensuring its confidentiality Opportunity to facilitate liquidation netting on the Russian market

5 Disputing on Contracts made under Master Agreement Repository operations 5 Registering / amending client’s details Registering / amending / canceling Master agreement Registering / amending / canceling Contracts made under Master Agreement Providing confirmations / rejections of confirmations on Contracts registration to Clients, FFMS, Bank of Russia

6 How to become Repository Client: 6 To become a client one shall: Sign Master Agreement on repository services Sign Agreement on electronic document transfer Provide Repository with information about Notifying party Provide NSD with Client’s questionnaire and pass compliance procedures Issue a power of attorney for a Notifying party Individuals and entities, both foreign and Russian, can become Repository clients.

7 Methods and deadlines for providing information 7 in paper form In case information is sent to Repository after 17:00 MSK, it will be registered on the next working day. Until 17:00 MSK of the current working day Until 17:00 MSK of the current working day via electronic workflow

8 Registration of Master Agreement 8

9 Registration of Contracts 9

10 Registering information on signed Contracts 10

11 Repository information disclosure 11 Daily, as of 18:00 of the previous working day on demand to Notifying parties to FFMS of Russia after registration (or rejection of registration) of Contract on demand to other persons, authorized to receive such information by law* on demand * such as bankruptcy commissioners, liquidation committees etc.

12 Repository Fee schedule principles 12 Repository fees are aimed at supplementing the start of the project, at maintaining Repository activity and at developing its accounting system with minimum gain of profit Registered Contracts are the main base for calculation of Repository commission fees Fee schedule projects will be endorsed by market members

13 Road map on Repository development 13 Publication of Master Agreement on repository terms of service Testing of information and operational interaction between Repository and its Clients begins Signing Master Agreements with repository Clients Beginning of Repository trial operations Filing of application to FFMS on executing Repository functions. Beginning of Repository commercial operations phase.

14 Contacts NSD Hotline: +7 (495) 234-48-27 Client Services Division: Tel.: +7 (495) 956-27-90/91/92/93; (495) 956-09-40; (495) 745-81-45; (495) 234-48-65 E-mail: Client Relations Development Department: Tel.: +7 (495) 234 9960 E-mail: Fax: +7 (495) 232-02-75 +7 (495) 956-09-38 Web-sites:, Address: 12, Spartakovskaya St., Moscow, 105066, Russia 14

15 15 Disclaimer This presentation has been prepared and issued by NSD (the “Company”). Unless otherwise stated, the Company is the source for all data contained in this document. Such data is provided as at the date of this document and is subject to change without notice. This document does not constitute or form part of, and should not be construed as, an offer or invitation for the sale or subscription of, or a solicitation of any offer to buy or subscribe for, any securities, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any offer, contract, commitment or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of the Company. The information in this document has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy or completeness of the information or opinions contained herein. None of the Company, or any of its subsidiaries or affiliates or any of such person's directors, officers or employees, advisers or other representatives, accepts any liability whatsoever (whether in negligence or otherwise) arising, directly or indirectly, from the use of this document or otherwise arising in connection therewith. This presentation includes forward-looking statements. All statements other than statements of historical fact included in this presentation, including, without limitation, those regarding our financial position, business strategy, management plans and objectives for future operations are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance, achievements or industry results to be materially different from those expressed or implied by these forward-looking statements. These forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which we expect to operate in the future. Important factors that could cause our actual results, performance, achievements or industry results to differ materially from those in the forward-looking statements include, among other factors: perception of market services offered by the Company and its subsidiaries; volatility (a) of the Russian economy and the securities market and (b) sectors with a high level of competition that the Company and its subsidiaries operate; changes in (a) domestic and international legislation and tax regulation and (b) state policies related to financial markets and securities markets; competition increase from new players on the Russian market; the ability to keep pace with rapid changes in science and technology environment, including the ability to use advanced features that are popular with the Company's and its subsidiaries' customers; the ability to maintain continuity of the process of introduction of new competitive products and services, while keeping the competitiveness; the ability to attract new customers on the domestic market and in foreign jurisdictions; the ability to increase the offer of products in foreign jurisdictions. Forward-looking statements speak only as of the date of this presentation and we expressly disclaim any obligation or undertaking to release any update of, or revisions to, any forward-looking statements in this presentation as a result of any change in our expectations or any change in events, conditions or circumstances on which these forward-looking statements are based.

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