Russia's National Settlement Depository (NSD) and Interfax information agency have launched a joint project aimed at the collection, verification and distribution of corporate information. The two have pledged to co-ordinate their efforts for the development of a system of assessing the fair value of financial instruments (the price centre).
The key goal is to create a reference database containing all available data about Russian issuers and their financial instruments. The system will integrate official data of the record keeping system of Russia’s central securities depository, information disclosed by issuers via Interfax as an agency authorised to disclose information to the stock market, and up-to-date information about issuers and securities collected by Interfax.
Eddie Astanin, NSD Chairman of the Executive Board, says the project will allow the replacement of inconsistent and even contradictory data with a unified, reliable and standardised information source. Both it and the price centre development project will contribute to a systemic minimisation of risks associated with the use of incorrect, untimely or incomplete information about Russian issuers and their securities, he says.
Vladimir Gerasimov, first deputy general director, Interfax, added: “The NSD’s and Interfax’s project aims at reducing market participants’ costs for receipt of accurate and user-friendly information. They will receive data in the unified format and will be able to customise them in accordance to their specific needs.”
