A special recording procedure for certain securities will be in effect until the end of 2025
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18.09.2024
OPEN API: BASIC PRINCIPLES AND IMPLEMENTATION STAGES
The website of the Central Bank of the Russian Federation has published the basic principles and stages of implementation of Open Program Interfaces (Open APIs). They will allow companies to exchange information on a client more quickly with their consent, provide them with beneficial personalised services, and also give a person the opportunity to manage their data at a high-quality level.
Open APIs will be implemented gradually. From 2026, their use will become mandatory for major banks, brokers and insurance companies, and from 2027 - for microfinance organisations, depositories, operators of information systems in which digital financial assets are issued, and financial platforms. These market participants will have to meet the criteria established by the Central Bank of the Russian Federation. Later, the practice will spread to other financial institutions, and then to non-financial organisations.
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