Russia's National Settlement Depository (NSD), the country’s central securities depository, says it has implemented back-to-back settlements technology for off-exchange DVP (delivery versus payment) transactions. Trading bank accounts and transactions may be in Russian rubles, US dollars, euro, or yuan.
This helps mitigate settlement failure risk by means of netting liabilities within a general pool of instructions to settle instructions that could not be settled individually due to the lack of assets required for execution of such instructions at the beginning of a clearing session.
The NSD says that its standard clearing service fees are applicable with this technology, which automatically detects the possibility of conducting settlements using this algorithm.
