Russia national depository adopts settlement function
Russia’s National Settlement Depository (NSD) has taken over all the cash and securities settlement functions previously conducted by the Depository Clearing Company (DCC) and the RTS Settlement Chamber of the Moscow Stock Exchange.
NSD is the largest settlement depository in Russia, part of the Moscow Exchange Group. It conducts on-exchange and over the counter transactions with all types of debt and equity securities of Russian issuers and provides settlement services to participants in Russia’s financial market.
The move is part of the integration process between the settlement depository, clearing company and stock exchange.
Eddie Astanin, chairman of NSD’s executive board, said: “We have completed an important stage of integration. In line with our integration concept, we timely and successfully took over all DCC’s and RTS Settlement Chamber’s functions in all exchange segments of the integrated Moscow Exchange.
“We followed a principle of respecting the interests of these companies’ customers and minimizing the technological changes in interactions with clients and contractors.”
All cash settlements on transactions concluded in the standard sector of the stock market are now conducted using NSD trading accounts.
Moscow Exchange was formed last December through the merger of the two main Russian exchanges, MICEX and RTS. It continues to offer investors a broad range of trading and post trading services.