Ref. No. ShA-20/2624 dated 12 April 2021
Attn.: NSD's clients
NSD Payment System participants
This is an update to communication Ref. No. 47-20/1065 dated 15 February 2021. Please be advised that on 10 May and 14 June 2021 NSD will be providing depository, bank, and clearing1 services (including services of the NSD Payment System2), as well as NSD's Trade Repository services (including services provided by the Registrar of Financial Transactions) during the time periods set out in the applicable agreements (including 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.
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 schedule for Bank of Russia’s repo trades in the exchange and OTC markets on 10 May and 14 June 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, 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; and
- 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; and
- CA cash movement (credit/debit).
1.9. NSD and the 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 May and 15 June 2021, 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 Trade Repository services (including services provided by the Registrar of Financial Transactions) will be recorded and processed automatically (no transactional support will be available). Any such messages received on 10 May or 14 June 2021 (provided that they are successfully validated and matched) will be recorded on 11 May and 15 June 2021, respectively.
Fair value of securities will be measured and published by the NSD Valuation Center as usual.
If you have any questions related to this communication, please use the following contact details:
- for securities holders: Client Relations Unit, at telephone numbers: +7 495 956-27-90 or +7 495 956-27-91;
- for issuers: Issuers Relationship Unit, at telephone number: +7 495 232-05-27, or by e-mail: ;
- for registrars: Registrars Relationship Unit, at telephone number: +7 495 232-02-73, or by e-mail: .
1 In the event of any changes in clearing services provided using correspondent accounts held with the Bank of Russia, further notice will be given.
2 The NSD Payment System operator is registered by the Bank of Russia in the Register of Payment System Operators under registration number 0014.