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NDU launches collection of responses to Request for Proposal from software vendors

Public Joint-Stock Company ‘National Depository of Ukraine’ has published requirements for the new CSD software complex (Request for Proposal) and is ready to receive proposals from specialized vendors.

This is the first stage of the project for the software renewal for the depository system in the Ukrainian securities market.

“We’ve been analyzing pluses and minuses of different approaches: in-house development as well as ready-made solution purchase. We’ve met software developers’ teams, studied their offers and communicated with other CSDs about practices of various software deployment, implementation experience, etc., – tells Mindaugas Bakas, CEO of NDU. – At the moment, the best option for us seems to be a ready-made functioning software solution with successful deployment record.”

As to the functional requirements contained within RFP we can outline the following:

  • servicing of all generic depository account types
  • ability to keep records of both domestic and foreign securities
  • interoperability with CSDs and ICSDs
  • interoperability with cash settlement systems
  • modern messaging formats support (simultaneously ISO 15055 and ISO 20022)
  • safekeeping of government securities and related functionality
  • corporate actions servicing
  • information exchange with NDU customers using modern web-technologies or via standard messages

More on RFP details, qualification criteria and other requirements for vendors can be found here or at

“According to our optimistic plans the new platform should be launched somewhere in 2019”, – forecasts Mindaugas Bakas.

Proposals are welcome at until 18th August, 2017 (inclusive).

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