On 23 December 2014, a meeting of the Supervisory Board of National Settlement Depository (NSD), Russia’s central securities depository, took place.
The members of the Supervisory Board took into consideration the report on NSD’s current activities for 2014 and on the implementation of the company’s 2012-2015 strategy. The Supervisory Board entrusted the executive bodies of the company to continue the work on a preparation of the NSD strategy as a part of the work on the Moscow Exchange Group’s development strategy up to 2017.
The members of the Supervisory Board approved the company’s Budget of Income, Expense and Profit and the Capital Investments Budget for 2015.
A report on the results of the rating audit conducted by Thomas Murray was presented to the members of the Supervisory Board.
The Supervisory Board determined the priority directions of the company’s development for 2015. In particular, the company will keep working on projects related to the reform of the corporate actions system in the Russian market; these projects are focused on increasing the transparency and implementing new technologies for these actions conducted by issuers and on investor interests’ protection. In cooperation with the Bank of Russia, NSD plans to implement a technology of DVP settlements via the Bank of Russia’s RTGS that will increase the reliability of settlements. It is planned to continue developing the electronic pre-matching service allowing market participants to mitigate risks of non-executing transactions with securities. The company will proceed with work on development of collateral management services, in particular, within the framework of the on-exchange repo projects. NSD plans also include the creation of the system of UIT units issuance and redemption on the basis of the NSD platform that will contribute to increased efficiency of the collective investment market.
In addition to this, the Supervisory Board approved fees for the withholding agent services (tax calculation and withholding in respect to payment of yield on bonds and shares of Russian issuers) and fees for information services within the framework of the National Securities Market Association’s Price Center. More information about the approved fees will be placed on NSD’s website.
The Supervisory Board formed new NSD Customer Committees.
NSD Customer Committee for Quality Control and Risk Management now includes the following members:
- Svetlana Kamasheva, Managing Director, JSC VTB Bank, Chairperson of the Committee
- Valeriya Avksentyeva, General Director, OTKRITIE Brokerage House JSC
- Ekaterina Anisimova, Product Manager, Direct Custody & Clearing, CB “J.P. Morgan Bank International”
- Anna Antonova, Head of Monitoring Section, Unit of Monitoring of Systemically Important Infrastructure Organizations in the Financial Market, Division of Methodology of Regulation and Monitoring of Systemically Important Infrastructure Organizations in the Financial Market, Financial Stability Department, Central Bank of the Russian Federation (Bank of Russia)
- Olga Veksler, Head of Operations, Barclays Capital LLC
- Vladislav Vlasenko, Head of Depository, MDM Bank
- Zinaida Esenkova, Head of Depository, Sberbank CIB
- Elena Krivosheina, Deputy Head of Depository Department of the Securities Unit, ZAO Citibank
- Dmitry Ludvik, Products and Services Manager, Domestic Custody Services, Deutsche Bank LLC
- Dmitry Nikolaev, Head of Depository Services Department, Vnesheconombank’s Depository
- Kirill Potapov, Deputy General Director, Head of Internal Control, VTB Specialized Depository
- Alexey Subbotin, Head of Depository, Alfa-Bank
- Nikolay Chemodurov, Head of Directorate for Analysis and Control of Depository Operations, Depository Center of Gazprombank (OJSC)
NSD Customer Committee for Registrar and Depository Relations now includes the following members:
- Yuri Taranovsky, General Director, Reyestr OJSC, Chairperson of the Committee
- Natalya Abretova, Chief of Depository Services and Correspondent Relations, ROSBANK (OJSC JSCB)
- Rushaniya Barkhatova, Director, Novy Registrator CJSC
- Yulia Burlakova, Deputy General Director, Director of Operations Department, Status CJSC
- Alexey Vasilyev, Head of IT Division, СJSC SR-DRAGa
- Maksim Getsman, Deputy General Director, VTB Registrar
- Maria Dolgopolova, Head of Registrar Maintenance and Depository Activities Department, INFINITUM Specialized Depository OJSC
- Dmitry Ishutin, Deputy Head of Domestic Custody Services, Deutsche Bank LLC
- Alexander Klimanov, Head of Interdepository Operations, Depository Center of Gazprombank (OJSC)
- Tatiana Lazutkina, Deputy General Director, “Solid” Investment Financial Company CJSC
- Aleksey Morozov, Deputy General Director, National Custodial Company CJSC
- Nadezhda Perekhodova, Deputy Head of Department for Register Maintenance, First Specialized Depository CJSC
- Alexander Tropanov, Deputy General Director (Legal), Professional Registration Center CJSC
- Tatiana Ulianova, Deputy Head of Depository Services Department, Vnesheconombank
- Marina Uspenskaya, Customer Services Director, Computershare Registrar CJSC
- Ksenia Shinkarenko, Director, Depository Operations Department, Otkritie Financial Corporation Bank
- Natalia Shtalenkova, Head of Product Development Division, Depository Services Department, CB “J.P. Morgan Bank International” (LLC)
NSD Customer Committee for Settlement & Depository Services and Tariffs now includes the following members:
- Dmitry Zaliznyak, Head of Depository Services Development Department, CB “J.P. Morgan Bank International” (LLC), Chairman of the Committee
- Vladislav Vlasenko, Head of Depository, MDM Bank
- Madina Gagloeva, Head of Depository Operations, VTB Specialized Depository
- Sergey Danilin, COO, BrokerCreditService Ltd
- Yulia Davydova, Head of Accounting and Control Department of Depository, ROSBANK (OJSC JSCB)
- Igor Zhelezny, Deputy Director of Depository, Sberbank of Russia
- Anna Zubanova, Head of Depository, JSC “SEB Bank”
- Maria Ilyina, Deputy Director of Depository, Head of Settlements and Corporate Actions Department, Vnesheconombank
- Ekaterina Kalinina, Head of Depository Department, Deutsche Bank LLC
- Alexander Kondratyev, Head of Depository, Renaissance Online LLC
- Oksana Markova, Head of Operations Development Unit, VTB Capital CJSC
- Yulia Umnova, Head of Commercial Planning and Development Unit, ZAO UniCredit Bank
- Alexei Fedotov, Head of Securities and Fund Services (Russia and CIS), ZAO Citibank
- Khristina Schebrova, Head of Client Relations, Custody, Barclays Capital LLC
The Supervisory Board approved a new version of the company’s Clearing Rules that incorporates the Bank of Russia’s recommendations; the new document will be submitted to the regulator for registration*.
* The new version of the company’s Clearing Rules will be placed on the NSD website in the sub-section “Documents that regulate the NSD clearing operations” (in Russian) of the section “Information Disclosure” once it is approved by the Bank of Russia.