Ref. ShA-20/7979 dated 17 December 2020
Attn.: NSD's clients
NSD Payment System participants
This is an update to communication Ref. No. 47-20/6949 dated 11 November 2020 Please be advised that NSD, including the NSD Payment System1, will be operating on 31 December 2020 and over the period of New Year public holidays in 2021 as follows:
On 31 December 2020, NSD will be providing services to its clients, including NSD Payment System participants, until 2.00 p.m., as follows:
1.1. Bank account services2:
- Bank account services will be provided from 8.30 a.m. to 2.00 p.m. (Moscow time).
- The NSD Payment System will be available from 8.30 a.m. to 2.00 p.m. (Moscow time).
- No foreign exchange transactions will be processed.
- Bank account statements for transactions made on 31 December 2020 (including for bank accounts of NSD Payment System participants) will be issued on 4 January 2021.
1.2. Clearing services:
- Clearing in the securities market:
- Clearing sessions will be run at 10.00 a.m., 12.00 (midday), and 1.00 p.m.
- Instructions to be settled on the DVP-1 basis will be settled until 1.30 p.m.
- Collateral management services will be provided until 12.00 (midday) (including a clearing session at 12.00 (midday)).
- In the commodity market, no clearing services will be provided.
1.3. Depository services:
- All depository transactions will be processed from approximately 7.30 a.m. to 2.00 p.m. (Moscow time) (other than securities transfers from trading sub-accounts "Securities blocked for clearing at NCC. Collateral"). On 31 December 2020, securities transfers from trading sub-accounts "Securities blocked for clearing at NCC. Collateral" will not be processed. At 2.00 p.m., cut-off time processes will be launched.
1.4. 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).
1.5. Hard-copy documents (including cash transfer instructions)3 sent through communications service providers will be accepted until 12.00 (midday).
4, 5, 6 and 8 January 2021: NSD will be providing depository, bank account, and clearing4 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:
2.1. 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.
2.2. No foreign exchange transactions will be processed.
2.3. There will be no clearing sessions in the commodity market.
2.4. Collateral management services will be provided as usual, subject to:
- the schedule for Bank of Russia's repo trades in the exchange and OTC markets on 4, 5, 6 and 8 January 2021, 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 and St. Petersburg Finance Committee, including the collateral requirements.
2.5. 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.
2.6. 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).
2.7. Further information concerning the exercise of rights of holders of Russian or non-Russian securities (providing information on corporate actions and assistance in participating in corporate actions) will be provided later.
2.8. 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 will proceed to processing untyped electronic documents received over the period in question (if any) on 11 January 2021.
2.9. Transactions to be executed on the basis of any documents other than those referred to under item 2.8 above and that require interaction with external counterparties will be executed subject to such counterparties’ operating hours.
1, 2, 3 and 7 January 2021 will be non-business days, and no services will be provided to NSD's clients (including NSD Payment System participants).
If you have any questions related to this communication, please use the following contacts:
- securities holders (clients): please contact the Client Relations Unit at: +7 495 956-27-90, +7 495 956-27-91.
1 The NSD Payment System operator is registered by the Bank of Russia in the Register of Payment System Operators under registration number 0014.
2 Subject to change in the event of any changes in the operating hours of the Bank of Russia Payment System.
3 NSD does not accept any hard-copy documents at NSD's offices.
4 In the event of any changes in clearing services provided using correspondent accounts held with the Bank of Russia, further notice will be given.