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Russia's central securities depository live with GoldenSource-powered Corporate Information Centre

28 March 2014  |  1748 views  |  0 Source: GoldenSource

GoldenSource, the leading independent provider of Enterprise Data Management (EDM) solutions for the securities and investment industry, announced today that Russia's central securities depository, the National Settlement Depository (NSD), has gone live with new services through its Centre of Corporate Information (CIC).

The CIC, which is powered by the GoldenSource EDM platform, provides financial institutions with a consolidated repository of key information relating to the Russian market. NSD is the first Russian institution to provide this service.

GoldenSource's automation of the data capture and validation processes has enabled NSD to provide an essential service to its clients: the delivery of issuer, securities, and corporate actions data that is well-structured, reliable and ready to use. By consolidating and cleansing data in a central utility, and then making this data available using commonly accepted data standards, the depository has introduced a new level of openness and efficiency for institutions accessing the Russian market.

"There has been great demand from our clients and investors for timely, reliable and well-structured corporate information," said Eddie Astanin, Chairman of the Executive Board at NSD. "Our Corporate Information Centre provides crucial services that are highly valued by investors and market participants."

Massimo Broggi, VP for EMEA Sales & Operations, said: "The industry is clearly looking to improve quality and timeliness of delivery of key reference data. Additionally the regulators are seeking ways to reduce systemic risk and market participants are trying to reduce their operational risk in key areas such a settlement. These requirements are clearly fostering the perfect conditions for data utilities. GoldenSource's unique data architecture and importantly its extensive data model enable exchanges, depositories, and other service providers to not only generate revenue from more of their data assets but also improve quality as the trusted source. NSD, as the Russian depository, is particularly well suited to offer a utility service for Russian securities and we are seeing strong demand for this from similar institutions in other markets." 

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