For Market Infrastructure: the NSSMC issued a license of the Central Counterparty to the Settlement Center

At a meeting on January 27, 2021, the NSSMC (National Securities and Stock Market Commission) made a Resolution on issuing a license for the clearing activity of the Central Counterparty of PJSC “Settlement Center for Servicing Contracts in the Financial Markets”.

“The NSSMC issued the first Central Counterparty License, which was predictably received by PJSC “Settlement Center for Servicing Contracts in the Financial Markets”. The availability of an appropriate Central Counterparty License makes it possible to launch a new financial instrument on the organized capital market platforms – a currency swap, which, in turn, will provide an additional credit facility and the possibility of risk hedging. The NSSMC welcomes the development of new financial instruments and supports the development of appropriate infrastructure,” Iraklii Baramiia, the Commissioner, said.

The NSSMC made a Resolution on issuing a license on the basis of the application and the package of documents provided by the Settlement Center. Therefore, the internal documents of the organization, its financial statements are trustworthy, comprehensive and meet the requirements of the legislation.

“We always promote a transparent and efficient capital market, sustainable development of its infrastructure and convenience for all the parties. The licensing, on the one hand, is a story of routine. On the other hand, it is a story about the clarity of settlements, the compliance with obligations and reliable operation,” the Commissioner added.

The NSSMC registered a new version of the Clearing Rules of PJSC “Settlement Center for Servicing Contracts in the Financial Markets” together with the issuance of the license.