ISIN and CFI codes allocation

NSD – Substitute Numbering Agency for the CIS: News and Events

01.07.11

Belarusian Regulator and Kazakh Central Securities Depository Approve NSD as Substitute Numbering Agency

MOSCOW – The Ministry of Finance of the Republic of Belarus and the Central Securities Depository of the Republic of Kazakhstan agreed to grant Russia’s National Settlement Depository rights to act as a substitute numbering agency in Belarus and Kazakhstan accordingly. Due to this the regulatory agency of the Republic of Belarus and the Central Securities Depository of the Republic of Kazakhstan have sent appropriate documents to the Chairman of the Board of Directors of the international Association of National Numbering Agencies (ANNA).

In compliance with the National Bank of the Republic of Kazakhstan's explanation, according to the country's current legislation "the regulatory body authorized to regulate and supervise the financial market and financial organizations does not have an authority to approve the implementation of functions of the substitute numbering agency."

It is worth reminding that the general meeting of ANNA members held 31 May – 1 June, 2007 in Vienna made a decision on granting NSD a right to provide the substitute numbering agency's services in the CIS countries. The resolution was later affirmed at the meeting of ANNA members held 5-6 July, 2007. The decisions were reflected in ANNA documents.

Additional information

In compliance with ANNA's regulatory documents the functions of a substitute numbering agency in a country may be implemented by a national numbering agency of some other country which has appropriate resources and the Association's official permission.

Substitute numbering agency's functions include:

  • Assigning of ISIN and CFI international identification codes to the financial instruments issued and registered in the territory of a country which does not have its own national numbering agency, or in the territory of a country where the national numbering agency does not have enough resources and technical possibility to implement all set of functions of the national numbering agency on a temporary or permanent basis
  • Updating of the national segment of the international database of ISIN and CFI codes
  • Regular providing of ISIN and CFI codes assigned to the country's financial instruments reports to ANNA

The substitute numbering agency's functions are temporary and supportive. Any organization in the country where another country's national numbering agency operates as the substitute numbering agency, may send an application for a right to act as the national numbering functions to ANNA's Board of Directors. If ANNA receives the country's regulator's permission for this, it shall make a positive decision, given that the applying organization is technically prepared to implement the functions listed above, including the update of the national segment in the international database of ISIN and CFI codes and distribution of the codes in the domestic market.

Moreover ANNA resolved that a substitute numbering agency shall exist not only in the country without a national numbering agency, but also in the country with functioning national numbering agency in order to provide reliable international codes assignment, if the national numbering agency faces temporary difficulties and transition periods.

About NSD

National Settlement Depository (NSD) is the largest settlement depository in Russia, a part of the MICEX 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: www.nsd.ru , or NSD Public Affairs Division: +7 495 232 0910, pr@ndc.ru

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