O/Ref. No. 9637 dated 21 December 2022
Attn.: NSD clients
NSD Payment System participants
This is an update to communication Ref. No. 5285 dated 2 October 2022. Please be advised that during the New Year public holidays in 2023, NSD including the NSD Payment System*, will be operating as follows:
1.On 3-6 January 2023, NSD will be providing depository, bank account, and clearing** 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. Bank account statements as of 30 December 2022 (including for bank accounts of NSD Payment System participants) will be issued on 31 December 2023.
1.2 There will be no clearing sessions in the Commodity Market.
1.3. 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 3-6 January 2023, 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.
1.4. 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.
1.5. 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).
1.6. 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.
1.7. 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;
- Securities transactions resulting from CAs, including the blocking of securities;
- CA cash movement (credit/debit).
1.8. 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 related to investigations of payments in Russian roubles and foreign currency and documents required for foreign exchange control purposes. NSD will proceed to processing untyped electronic documents received over the period in question (if any) on 9 January 2022.
1.9. Transactions to be executed on the basis of any documents other than those referred to under item 1.8. above and that require interaction with external counterparties will be executed subject to such counterparties’ operating hours.
1.10. 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 3-6 January 2023 (provided that they are successfully validated and matched) will be registered on 9 January 2023.
1.11. Fair value of securities will be measured and published by the NSD Valuation Center as usual.
2.31 December 2022, 1, 2, 7 and 8 January 2023 will be non-business days, and no services will be provided to NSD's clients (including NSD Payment System participants).
3. On 30 December 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 services as usual.
If you have any enquiries regarding this notice, please contact Customer Service at NSD by phone: +7-495 956-27-90, +7-495 956-27-91.
*The NSD Payment System operator is registered by the Bank of Russia in the Register of Payment System Operators under registration number 0014
**Clearing Services will be subject to the operating hours of the Bank of Russia Payment System and external contractors.