Russia’s National Settlement Depository hires deputy chairman from Bank of Russia

The National Settlement Depository (NSD) in Russia has appointed Nikolai Degtyarev deputy chairman of the executive board. He will be responsible for the development of information technologies and engineering support.

He has moved from the Bank of Russia  (pictured), where he has held various positions since 1996. In his roles at the bank he was responsible for maintaining and improving the automated trading systems and other information technology.

NSD is part of the Moscow Exchange Group and the largest settlement depository in Russia. It services exchange and over the counter transactions of Russian issuers and provides settlement services to all participants in the Russian market.

It conducts all transactions taking place in the federal and the Bank of Russia bond markets, most transactions in the corporate and regional bond markets, as well as the majority of equity and foreign securities transactions.

Last month, the NSD filed an application for central depository status to the Russian Federal Financial Markets Service. In preparation for its accession to this new status, it has approved a set of regulations on central depository and registrars interactions, which will be used as a guide to adapt the existing software to the central depository’s operations.

NSD’s committee is also working on developing the technology to assist interactions between the central depository and registrars operating in the pooled investments market.

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