The Risk
Central Securities Depositories (CSDs) are the central mechanisms for holding and transferring securities in every market in the world. In many cases they are bastions of stability and strengthen a financial market, but they can also pose significant risks to the financial system.
The Solution
Thomas Murray provides intraday monitoring and risk assessments of 140+ CSDs globally. We enable banks and other groups exposed to CSDs to understand the risks they pose, benchmark them against other markets and against best practices globally.
Our analysts are experts in CSD risk, including:
Asset Commitment
Liquidity
Counterparty
Asset Safety
Asset Servicing
Financial
Operational
Governance and Transparency
Thomas Murray scores every CSD
According to a CSDs capabilities, its operational infrastructure and its willingness and ability to protect participants and their clients from losses.
There are two primary use-cases for these assessments:
- Proprietary: where direct and indirect users of a CSD access the assessments for their own use, and they are not published publicly. Users of a CSD include Custody Banks, Broker Dealers, and Institutional Investors.
- Public: where a CSD commissions a rating on itself and makes it publicly available.
In addition to CSD Risk Assessments, Thomas Murray provides Cyber Security Ratings and ESG assessments of every CSD globally.
We safeguard clients and their communities
Petroleum Development Oman Pension Fund
“Thomas Murray has been a very valuable partner in the selection process of our new custodian for Petroleum Development Oman Pension Fund.”
ATHEX
"Thomas Murray now plays a key role in helping us to detect and remediate issues in our security posture, and to quantify ATHEX's security performance to our directors and customers."
Northern Trust
“Thomas Murray provides Northern Trust with a range of RFP products, services and technology, delivering an efficient and cost-effective solution that frees our network managers up to focus on higher Value activities.”
Insights
Why Asset Owners and Allocators Need Modern, Automated ODD
Operational Due Diligence (ODD) is no longer a one-off point in time exercise - it should be an ongoing, structured process.
Cyber risk is driving portfolio company valuation in 2026
Learn about some of the factors that will affect PE in 2026, and find out why a strong, proactive cybersecurity strategy can add real value.
Indeval Launches Client Portal ‘MyIndeval’ Powered by Thomas Murray Market Intelligence
Thomas Murray is pleased to announce that Indeval has launched MyIndeval, a client portal powered by Thomas Murray’s market-leading information.
Operational Due Diligence: A Playbook for Asset Owners and Allocators
Navigate the evolving ODD landscape, with industry insights that will help you to identify, assess, and monitor emerging risks.
Our expert
