O/Ref. No. 7911 dated 11 November 2022
Attn. NSD clients
In order to improve depository services in accordance with the decision of NSD's Executive Board dated 10 November 2022, National Settlement Depository (NSD) announces a marketing period from 14 November 2022 to 31 December 2022 inclusive, during which no fee is charged for the transfer of Russian securities that imply a transfer of ownership for those securities recorded by a foreign securities depository (paragraph 4.1 of NSD Fees for Depository Services) for the following transactions: (including transactions in type C securities accounts, subject to the approval of the Governmental Commission and provided that they comply with legislation, such as regulations of the Bank of Russia, including decisions of the Board of Directors of the Bank of Russia, official clarifications of the Bank of Russia and provided that they meet the requirements set out below):
- transactions involving the submission by the client to NSD of an instruction in the client's nominee securities account to debit Russian securities to any type of securities account, if the Additional Information field of the instruction contains the following: "Transfer authorised by the Government Commission".
- Transactions involving the submission by a foreign nominee client to NSD of an instruction in the client's securities account with NSD to debit securities of Russian issuers from such account for crediting to any securities account with "Transfer authorised by the Government Commission” being indicated in the Additional Information field of the instruction.
- Transactions involving the submission of a securities instruction to an owner securities account opened in the name of a non-resident, for the transfer of securities to any securities account with "Transfer authorised by the Government Commission” being indicated in the Additional Information field of the instruction.
The marketing period applies if the following condition is met:
- transfer of securities is carried out under counter instructions of the Sending Client (or the securities account/sub-account operator) and the Receiving Client (or the securities account/sub-account operator) without cash settlement (Transaction Code 16 and 16/1).
If you have any enquiries regarding this notice, please contact your account managers at NSD by phone: +7 495 956-27-90, +7 495 956-27-91.