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Let the countdown commence
18 December 2007
?It is not often this reporter interviews an ex-Russian space engineer who has crossed over to finance. Craig MacDonald speaks to Eddie Astanin about his former career, his work now at the National Depository Centre of Russia and why he is pushing for the Russian market to adopt a securities lending model.
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Russia
securities lending
repo
bond
Central Bank of Russia
Isf: Is there a securities lending market in Russia?
Eddie Astanin: No, at the present time we have no securities lending market in Russia. Our market participants use repo for trading securities. We do have a strong desire to adopt an international model. A testament to this is next week, Russia's National Securities Association jointly with the Central Bank of Russia is holding a conference on the implementation of securities lending into our market. There are some big names from the international community attending like Euroclear and Clearstream. The Central Bank of Russia, National Depositary Centre and investment banks both onshore and offshore are interested in seeing securities lending in Russia.
Isf: How would your new securities lending model be organised?
EA: We are thinking of suggesting to our participants dual repo transactions with an offset of reciprocal claims (the netting of cash positions) as the first stage of the...
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