In order to comply with the requirements of the Decision of the Board of Directors of the Bank of Russia dated 09.12.2025 (hereinafter referred to as the Decision), NSD establishes the following requirements for securities transfer operations:
From January 12, 2026, when executing securities debiting operations specified in paragraphs 1.1 and 1.2 of the Decision, from depository accounts that are not nominal holder depository accounts, for the purpose of crediting securities to another depository or registrar, specifying one of the codes listed below in the instruction will become mandatory. NSD will reject instructions of types 10, 16, 36 that do not specify a code corresponding to the information provided in paragraph 1.9 of the Decision or the code does not match the data available to NSD [2].
To comply with the requirements of paragraph 1.9 of the Decision, the following codes will be used:
SGDY138 — notification of transfer of Russian securities for which the depository (registrar) that transferred the securities for rights accounting was not presented with documents confirming that the transferred securities do not meet the criteria established by Decree No. 138;
SGDY767 — notification of transfer of Eurobonds, Substituting Bonds for which the depository (registrar) that transferred the securities for rights accounting was not presented with documents confirming that the transferred securities do not meet the criteria established by Decree No. 138;
SGDY677 — notification of transfer of Substituting Eurobonds of the Russian Federation for which the depository (registrar) that transferred the securities for rights accounting was not presented with documents confirming that the transferred securities do not meet the criteria established by Presidential Decree of the Russian Federation dated 09.09.2024 No. 677;
SGDYR — notification of transfer of securities for which the depository (registrar) that transferred the securities for rights accounting was not presented with documents confirming that the transferred securities do not meet the criteria for segregated accounting established by Bank of Russia directives or for other reasons;
For non-segregated securities:
SGDN — certification by the depository that transferred the securities for rights accounting that it has verified the submitted documents and information confirming the absence of grounds for segregated accounting of the transferred securities, including when the certification of absence of grounds for segregated accounting of said securities was received by it from another depository (from the registrar).
And also the following additional codes:
SGDV138 — certification by the depository (registrar) that transferred Russian securities for rights accounting that it has verified the grounds for the debiting operation and the validity of segregated accounting of the transferred Russian securities, including when the certification of the need for segregated accounting of said securities was received by it from another depository (from the registrar);
SGDV767 — certification by the depository (registrar) that transferred Eurobonds, Substituting Bonds for rights accounting that it has verified the grounds for the debiting operation and the validity of segregated accounting of the transferred securities, including when the certification of the need for segregated accounting of said securities was received by it from another depository (from the registrar);
SGDV677 — certification by the depository (registrar) that transferred Substituting Eurobonds of the Russian Federation for rights accounting that it has verified the grounds for the debiting operation and the validity of segregated accounting of the transferred securities, including when the certification of the need for segregated accounting of said securities was received by it from another depository (from the registrar);
SGDVR — certification by the depository (registrar) that transferred securities for rights accounting that it has verified the grounds for the debiting operation and the validity of segregated accounting of the transferred securities, including when the certification of the need for segregated accounting of said securities was received by it from another depository (from the registrar) in accordance with the criteria for segregated accounting established by Bank of Russia directives or for other reasons.
In case of transferring segregated securities from Owner or Trust Manager depository accounts, NSD will transmit information on the Unique Identification Number (UIN) of the operation via a separate untyped document. The email subject will contain the word "UIN" [2].
In case of providing any codes corresponding to segregated accounting of securities in the instruction for crediting securities to owner or trust manager depository accounts at NSD, NKO AO NSD expects a letter from the depositor containing information on the UIN assigned to the operation in accordance with the requirements of paragraph 1.8 of the RSD no later than the day of sending the instruction. The letter must be transmitted via EDMS channel as an untyped document to the Client Relations Department (recipient code NDC000ORK000). The word "UIN" must be included in the message subject [2].
Starting from March 17, 2025, in accordance with paragraphs 1.6 and 1.9 of the Decision of the Board of Directors of the Bank of Russia dated 30.09.2024, NSD implements the technical capability to transmit information on segregation of securities in the transfer instruction [2].
When transferring securities without transfer of ownership rights, the sender is obliged to specify one of the following codes:
The code for designating non-segregated securities is introduced for unambiguous understanding by the receiving party that the absence of any code does not mean absence of segregation [2].
Rules for using codes are described in "Procedure for Interaction between the Depository and Depositors during Implementation of Conditions for Carrying Out Depository Activities of Non-Bank Credit Organization Joint Stock Company National Settlement Depository" [2].
At this moment, NSD will not control the presence and correctness of the code transmitted to the nominal holder or registrar [2].
When debiting securities from sections intended for segregated accounting of securities, from Owner or Trust Manager depository accounts opened at NSD, codes indicating the necessity of segregated accounting of securities or absence of necessity of segregated accounting, in the "Additional Information" field in the Depositor's Instruction should not be specified. When specifying these codes in the Instruction and their mismatch with the purpose of the securities debiting section, NSD has the right to refuse execution of the Instruction [2].
One value from the specified codes must be specified:
In the "Additional Information" field in the Instruction for securities transfer using form MF010 (operation code – 16) in square brackets. This information will be transmitted in the report using form MS010 to the Depositor-recipient [2].
In the Instruction using form MF036 (operation code – 36) in the "Additional Information" block in the "Value" field when filling the "REESTR_INFO" parameter. The segregated accounting code will be transmitted to the register holder [2].
Upon receipt of securities from the registrar, information will be transmitted to the Depositor-recipient of securities in the report using form GS036. The report will have the name "Notification on the Fact of Segregated Accounting of Transferred Securities in the Register". At the same time, the structure of this report does not differ from the standard for form GS036 [2].
Features of transmitting information in SWIFT format are described in Specification of Functional Electronic Documents of NSD EDMS [2].
In order to terminate segregated accounting of securities in accordance with the legislation of the Russian Federation and internal procedures, a set of document forms has been developed that must be submitted to NKO AO NSD [2].
To initiate the procedure for termination of segregated accounting of securities, it is necessary to:
Familiarize yourself with the conditions and features of conducting securities transfer operations from depository account sections intended for segregated accounting of securities.
Fill out the specified document forms below and send the signed application for termination of segregated accounting of securities in scanned form with an attachment in .csv format via EDMS of NKO AO NSD to code NDC000ORK000 with the email subject: "Termination of segregated accounting of securities – [name/FIO of applicant]" [2].
NKO AO NSD carries out verification of the possibility of executing the operation for transferring securities from depository account sections intended for segregated accounting of securities, taking into account restrictions established by the legislation of the Russian Federation, Bank of Russia regulatory acts, in accordance with the conditions of depository services and internal procedures of NKO AO NSD. If necessary to provide additional documents or clarifications, an authorized employee of NKO AO NSD will contact you using the contact details specified in the documents [2].
For convenience of filling out document forms, we recommend using current versions of software. All document forms are presented in editable format [2].