National Settlement Depository (NSD), Russia’s central securities depository, has signed an agreement to connect Kyrgyzstan’s Bank of Asia to SWIFT via NSD’s service bureau.

Alexander Nam, NSD’s Managing Director for Technological Services, said: “We are very happy that the Bank of Asia chose NSD to use the SWIFT system. Our attention has been always focused on providing our clients with high quality and reliable services, as well as optimal fees for these services. We see great potential for developing financial technologies in Central Asia and we are ready to cooperate with our clients and partners in this region.”

Being a certified SWIFT service bureau, NSD provides its clients with safe and reliable access to all SWIFT services. Working via the service bureau allows clients to optimize costs as they do not need to install and support specialised software and equipment in their offices.

Myktykbek Shokenov, Member of the Management Board, Bank of Asia, pointed out: “Taking into account the high level of security and reliability of NSD’s infrastructure and our cooperative outlook, the Bank of Asia chose this company as a partner to connect to the SWIFT system. Our choice was made based on our partner’s great experience in this area and its flexible fee policy. We are also interested in NSD’s new digital projects, including blockchain. We hope that our cooperation will be long term and mutually beneficial.”

About National Settlement Depository 

National Settlement Depository (NSD), a part of the Moscow Exchange Group, is the central securities depository* of the Russian Federation.  

NSD was founded 27 June 1996. On 31 March 2018, the value of securities under custody amounted to RUB 41.7 trillion. The Bank of Russia recognized NSD as a systemically important central securities depository, settlement depository, and repository. The NSD payment system has the status of a systemically and nationally important system.  

NSD offers a wide range of services to its clients, including settlement and depository services, OTC transaction registration (repository services), information services, collateral management services, and technological services.  

As Russia's national numbering agency and the substitute numbering agency for the CIS, NSD is authorized to assign international ISIN, CFI and FISN codes. NSD has the status of a Local Operating Unit (LOU), which allows it to assign Legal Entity Identifiers (LEIs) to corporate clients.  

The Bank of Russia has assigned NSD the status of an operator of the NSD Payment System (registered name).  

NSD settles on-exchange trades and conducts a major part of OTC settlements; it services Russian and foreign securities as the central securities depository. Currently, NSD has accounts with central securities depositories and international central securities depositories of eight countries, as well as correspondent accounts with major foreign and Russian banks. NSD services securities issued by companies representing more than 40 countries. The international rating agency Thomas Murray has assigned NSD an AA- rating as a central securities depository.