NSD Completes Annual Assessment Of Its Compliance With Principles For Financial Market Infrastructures

National Settlement Depository (NSD), Russia’s central securities depository, has completed the annual assessment of its compliance with the CPMI-IOSCO Principles for Financial Market Infrastructures (PFMIs). Compared with the previous year’s assessment, improvements were reported in NSD’s observance of three principles (“Money Settlements,” “Custody and Investment Risk” and “Tiered Participation Arrangements”). The level of observance of the remaining principles remained unchanged. FMIs are expected to undertake regular self-assessments in order to establish their degree of observance of the PFMIs, using the Assessment Methodology and Disclosure Framework associated to the PFMIs.