National Settlement Depository (NSD), Russia’s central securities depository, has begun using Bank of Russia repo trades as a component of the basket of Bank of Russia bonds (OBR)
The first trade comes a month after the US SEC approved rule changes allowing institutional investors to participate directly in the clearinghouse through CCIT membership
The association also point to increased automation of highly manual and labour-intensive processes of the market as a way to mitigate rising costs and create efficiencies
Industry representatives drafted the code in partnership with the Bank of England (BoE) to replace the previous guidance, which has been judged to be outdated
Geo-political events in the US and Europe were the most significant drivers of fixed income trading in the 12 months ending March, according to NEX Group
