NSD to Introduce Speedy Depository Receipts Conversion Service on 18 November

30 October 2013
Print version

Moscow. 30 October. INTERFAX – Eddie Astanin, Chairman of the Executive Board of National Settlement Depository (NSD, a part of the Moscow Exchange Group) told InterfaxI that his company plans to launch the speedy depository receipts conversion service on 18 November.

According to Mr. Astanin, the service will be provided to the holders of depository receipts issued by the Bank of New York Mellon (BNY Mellon).

Previously the Supervisory Board of NSD approved the rate for speedy depository receipts conversion in the amount of RUB700 per operation.

As Mr. Astanin told Interfax earlier, the new service allows converting the receipts within a few hours. Currently the conversion takes two or three days. “The new service will contribute to the increased flow of liquidity to the Russian on-exchange market. Investors will be able to conclude sale-and-purchase transactions with shares and convert the shares via the same company.”

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