Russia’s NSD applies for central depository status
Russia’s National Settlement Depository (NSD) has filed an application for central depository status to the Russian Federal Financial Markets Service.
NSD is part of the Moscow Exchange Group and the largest settlement depository in Russia. It services exchange and over the counter transactions of Russian issuers and provides settlement services to all participants in the Russian market.
It conducts all transactions conducted in the federal and the Bank of Russia bond markets, most transactions conducted in the corporate and regional bond markets, as well as the majority of equity and foreign securities transactions.
The application documents will be submitted in parts. The first set, submitted on July 25, includes the documents confirming NSD’s compliance with the application requirements, the Regulations on the National Settlement Depository Customer Committee and the company’s Code of Professional Ethics.
The remaining documents will be submitted after initial approval.