ASECS put into operations for Russia's NSD
National Settlement Depository of the Russian Federation put into commercial operation Automated System of Electronic Cash Settlements developed by CMA Company
. Today CMA announced that Automated System of Electronic Cash Settlements (ASECS) developed by CMA company was put into commercial operations in National Settlement Depository (NSD) which is the largest settlement depository in Russia, a part of the Moscow Exchange Group.
With the introduction of ASECS into commercial operations the National Settlement Depository has completed the next stage of the technological preparation to operate as a central depository of the Russian Federation.
ASECS has been developed jointly by NSD and CMA Small Systems AB. СМА's solutions RTS/X and PIE which are the basis of ASECS technological platform have been used in a number of large scale international projects launched by central banks, stock exchanges and central depositories. During project implementation the above mentioned solutions were customized in order to meet the requirements of financial laws of Russia and the Central Bank of Russia as well as internal documents of the NSD.
ASECS's progressive architecture based on ProcessWare Integration Environment (PIE) is a new platform allowing speeding up implementation of new settlement functions, to minimize operating risks by means of enhanced automation of processes, to meet the clients' requirements in respect of reliable interactions with NSD. The new settlement system functions on the basis of Hewlett-Packard Integrity servers. During the implementation process, the NSD switched from Informix database management system to Oracle.
National Settlement Depository (NSD) is the largest settlement depository in Russia, a part of the Moscow Exchange Group, servicing on-exchange and OTC transactions with all types of debt and equity securities of Russian issuers and providing settlement services to participants in financial markets of the Russian Federation.
NSD provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, the majority of transactions with equities and also services UIT units and securities of foreign issuers.
In accordance with agreements concluded between NSD and the Bank of Russia, NSD acts as a settlement center for the organized securities market.
NSD is Russia's national numbering agency and the substitute numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.
For further information about NSD: http://www.nsd.ru/en/