National Settlement Depository (NSD) has launched a service allowing clients to automatically generate statements from the Repository’s register of contracts and receive them directly. This new service will allow the users of the Repository’s service to more conveniently monitor their transactions.
Now, by the end of the work day, clients who delegated reporting to third parties can receive information from the Repository’s register of contracts if such third parties have submitted reports on their OTC transactions, and if their identification (repository) codes have been indicated in their contracts. Transaction participants will be able to receive general information about contracts, reports, and master agreements recorded in the register during a certain period without needing to involve any counterparties and without having to separately request each statement.
The new service is available to Repository clients who concluded EDI agreements with NSD.
“The new service allowing our clients to automatically generate statements from the Repository’s register of contracts and receive them directly will make OTC transaction participants’ operations more convenient and quicker. Now clients can receive all necessary information from the register and maximize control over their transactions. Previously, this service was provided to Reporting Agents (message senders) only, and clients relied entirely on the Reporting Agent’s actions,” said Anastasiya Kiseleva, Managing Director for Repository Services, NSD.