NSD, Russia’s Central Depositary and system critical Russian market repository, and CME European Trade Repository Limited (ETR), registered by ESMA, UK-based and part of CME Global Repository Services, have announced their collaboration.

The repositories offer Russian clients OTC cross-border trades reporting, compliant with European law (EMIR regulations, enacted in July 2012).

ETR sends reports on all types of assets for all market and OTC trades in accordance with EMIR procedure.

The two companies have slated the rollout of this NSD service for April 2015.

Russians will start reporting OTC cross-border trades with European counterparties in April 2015, to coincide with the launch of stage 2 of master agreement derivative trades reporting.

Stage two features more derivative types, subject to mandatory reporting to the repository.

Today, market participants must only report OTC repo trades and master agreement currency swaps.

Trading infrastructure, Project Group №1