National Settlement Depository (NSD), Russia's central securities depository, announced that its project of developing an e-proxy voting prototype based on blockchain technology has been nominated for the Futures & Options World (FOW) International Awards in the category of ‘Best New Technology Product.’

The final results of the awards will be announced on 7th December 2016, at a Gala Dinner in London. NSD’s other competing nominees in the category include projects from NASDAQ and fintech companies Symbiont and SETL.

The FOW International Awards, organized by Futures & Options World, will identify potential outstanding innovative practices in the global derivatives market across all sectors ranging from inter-dealer brokers to software suppliers. Awards are given in various categories including ‘Personal and Individual Awards’, under which lifetime achievement award and executive of the year award will be given; ‘Bank, Brokers and Market Makers Award’ under which bank of the year, IDB of the year will be awarded, among others.

NSD’s initiatives are focused on using new post-trade technologies and created a service prototype based on blockchain technology. The e-proxy voting system that is based on blockchain technology was successfully tested by NSD and the product was developed on the basis of NXT, the network distributed cryptographic platform.

NSD collaborated with iCoinSoft Exchange Platform for blockchain assets circulation, recently. The partnership project presented an idea of technological infrastructure that improves the efficiency and convenience of the circulation of blockchain assets.