MFB CLEARING CENTER RUNS ON DIASOFT SOLUTIONS

March 5, 2021

Diasoft announced successful go-live of the project for automation of settlements and operations at the financial market at MFB Clearing Center.

The strategic business of MFB Clearing Center, part of the Saint-Petersburg Stock Exchange Group, is delivery of clearing services for the stock market and the exchange-traded commodity market.

On 1 October 2020, the company obtained a license for banking operations in rubles and foreign currencies from the Bank of Russia.

To support its new operations, MFB Clearing Center implemented Diasoft solutions that covered the following business functions: settlements, interaction with the Federal Tax Service, tax calculation, accounting for exchange-traded and OTC securities, conversion operations, custody.

“Diasoft solutions provide all necessary functional capabilities for end-to-end support of our operations in full compliance with regulatory requirements. Implementation of modern IT solutions allow us to expand the variety of instruments, supporting the product line of Saint-Petersburg Exchange”, commented Yulia Makeeva, General Director, MFB Clearing Center. 

“It is unique for a non-banking company at the Russian financial market to receive a license from the Bank of Russia. The project at MFB Clearing Center has successfully gone live, and we are happy to deliver our professional technological services and share out expertise to help our Customer in its further development at the financial market”, said Kirill Zolotykh, Member of the Management Board, Director of the Financial Markets Department at Diasoft.