Russia's NSD hails 2016 advances

Russia's National Settlement Depository (NSD) says it has completed the annual assessment of its compliance with the CPMI-IOSCO Principles for Financial Market Infrastructures (PFMIs).

It says that compared with the previous year’s assessment, improvements were reported in the 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.

The NSD says the results of the analysis show that it is broadly observant of the PFMIs. Of the 24 principles, NSD fully observes 14, broadly observes six and there are four other principles not applicable to NSD’s operations.

In 2016, the NSD adds, the Bank for International Settlements (BIS) assigned the highest rating to the Russian financial market infrastructure.