Published on: 2026-08-17
Source: Central Bank of Russia – Central Bank of Russia –
An important disclaimer is at the bottom of this article.
The Bank of Russia intends to reform the interaction system between accounting infrastructure organizations. According to the prepared concept, depositories and register holders in securities transactions will have to use unified electronic message formats instead of disparate information transfer templates.
The transition to a single language of communication will reduce the costs for market participants, simplify and speed up both the transfer of securities and settlements on them, as well as the conduct of corporate actions.
Currently, accounting institutions interact with each other based on the principle of “each with each,” using many different data formats, channels, and information exchange protocols. The technological heterogeneity of the systems and varying document requirements slow down processes — ultimately reducing the speed and quality of customer service.
The Bank of Russia has already taken the first step towards improving the quality of services of accounting organizations and determined rules for fast securities transfers. The launch of this service will significantly simplify the client journey.
The next stage is the introduction of albums of unified formats for electronic messages to transmit information about securities and transactions with them. The Bank of Russia undertakes the development of the albums; it will prepare them based on the international standard ISO 20022 and taking into account the opinions of market participants, self-regulatory organizations, and software developers. As the formats are implemented into their business processes, depositories and registry holders will be able to exchange data and perform settlements in a mode close to real-time.
The transition to unified standards of information interaction in the accounting infrastructure will occur gradually. The implementation of the reform is expected to take at least 5 years.
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