NSD and NSD Payment System's Operating Hours on 23 February and 7–8 March 2022

Ref. No. 341 dated 16 February 2022

Attn.: NSD's clients
NSD Payment System participants

This is an update to communication Ref. No. 03-20/7713 dated 2 November 2021. Please be advised that NSD, including the NSD Payment System, will be operating on 23 February and 7–8 March 2022 as follows:

1. On 23 February and 7-8 March 2022, NSD will be providing depository, bank account, and clearing¹ services, including NSD Payment System services, at hours provided for in the relevant agreements (including in the NSD Payment System Rules), subject to the following:

1.1. Cash transfers to and from accounts of NSD's clients, including NSD Payment System participants, will be executed subject to any changes in the operating hours of the Bank of Russia Payment System and external contractors. On 23 February and 8 March 2022, cash transfers in Russian roubles will be executed only between clients’ bank accounts opened with NSD. Cash transfer instructions in Russian roubles due on 23 February and 8 March 2022, for bank accounts opened with March not be accepted for execution.

1.2. No foreign exchange transactions will be processed.

1.3. There will be no clearing sessions in the commodity market.

1.4. Collateral management services will be provided as usual, subject to the operating hours of the Bank of Russia Payment System and external contractors, and subject to:

• the schedule for Bank of Russia's repo trades in the exchange and OTC markets on 23 February and 7-8 March 2022, and specific requirements set forth by Moscow Exchange with respect to the method of determination of settlement prices to be used in the following trades: "Repo with the Bank of Russia: Repo Auction" and "Repo with the Bank of Russia:
• Fixed Rate"; and specific requirements set forth by the Russian Federal Treasury, St. Petersburg Finance Committee, and Leningrad Region Finance Committee, including the collateral requirements.

1.5. NSD will not be providing LOU services, including LEI assignment/verification/acceptance/transfer; NNA/SNA services for assignment of ISINs and CFIs to securities, as well as services for assistance in assigning ISINs and CFIs to non-Russian securities.

1.6. Messages sent by users of IT Services (Transit, Financial Messaging Transit, SWIFT Service Bureau) will be recorded and processed automatically (no transactional support will be available).

1.7. No services will be provided to assist securities holders to exercise their rights attached to Russian securities, other than services provided automatically, such as:

• Notifications on record dates and sending reminders of forthcoming CAs;
• Acceptance and processing of CA Instructions;
• Acceptance and processing of instructions to register a list of securities holders disclosed / changes therein.

1.8. No services will be provided to assist securities holders in exercising their rights attached to non-Russian securities, other than services and transactions that require prompt execution, such as:

• CA notification;
• Acceptance and processing of instructions for which the deadline for submission of CA Instructions, as set by NSD, falls on a public holiday;
• Securities transactions resulting from CAs, including the blocking of securities;
• CA cash movement (credit/debit).

1.9. NSD and NSD Payment System will not be accepting for execution any documents (including cash transfer instructions) in hard copy, and will not be accepting untyped electronic documents (files) via the NSD EDI System (other than documents required for foreign exchange control or tax management purposes). NSD March proceed to processing untyped electronic documents received on 23 February and 7-8 March 2022 (if any) on 24 February and 9 March 2022, respectively.

1.10. Transactions to be executed on the basis of any documents other than those referred to under item 1.9 above and that require interaction with external counterparties will be executed subject to such counterparties’ operating hours.

1.11. Messages sent by users of Repository Services (including the Registrar of Financial Transactions) will be recorded and processed automatically (no transactional support will be available). Messages received on 23 February and 7-8 March 2022 (provided that they are successfully validated and matched) will be registered on 24 February and 9 March 2022, respectively.

1.12. Fair value of securities will be not measured by the NSD Valuation Center on 23 February and 8 March 2022. On 7 March 2022, fair value of securities will be measured by the NSD Valuation Center as usual (fair value of securities will be published on 9 March 2022).

2. On 22 February 2022, NSD will be providing depository, bank, and clearing services (including services of the NSD Payment System), as well as NSD's Trade Repository services (including services provided by the Registrar of Financial Transactions) and information services² as usual.

3. 5 March 2022 will be a national business day (Saturday), on which NSD will be providing depository, bank and clearing³ services (including money transfers in the NSD Payment System), NSD’s Trade Repository services (including services provided by the Registrar of Financial Transactions), and information services as usual. Transactions that require interaction with external counterparties will be executed subject to such counterparties’ operating hours.

If you have any questions related to this communication, please contact your account managers by telephone:  +7 495 956-27-90, +7 495 956-27-91.

¹ Clearing Services will be subject to the operating hours of the Bank of Russia Payment System and external contractors
² fair value of securities will be published on 9 March 2022
³ NSD will not be providing DVP services with cash accounts opened with foreign banks