On 23-25 October, the senior managers of Moscow Exchange and National Settlement Depository (NSD), Russia’s central securities depository, held a number of meetings with representatives of international financial institutions, including the biggest investment and asset management companies.
The presentation trip was launched as a part of the Moscow Exchange’s Forum in New York; more than 200 delegates of international financial community attended the event. Among the participants of the plenary part of the forum were Sergei Shvetsov, First Deputy Governor of the Bank of Russia – Head of the Bank of Russia Financial Markets Service, Alexander Afanasiev, Chairman of the Executive Board of the Moscow Exchange, Eddie Astanin, Chairman of the Executive Board of NSD, and Chris Osborne, CEO of Sberbank CIB USA. The purpose of the Forum was to present new opportunities of Russian stock infrastructure to international audience, to talk about Russian central securities depository’s and clearing center’s operations, to present new products and services provided by the Moscow Exchange Group. The New York event was a continuation of the annual Exchange Forum carried out in April; it was a huge success with over 800 professional market participants. Moscow Exchange’s similar forum in London in July was also well-attended with 250 delegates representing international investment community.
As a part of the forum’s program in New York and Boston, NSD held a roundtable entitled “CSD in Russia: Getting Started.” Leading international and Russian experts discussed key events and regulatory changes related to the formation of the central securities depository in Russia and affected not only the post-trading infrastructure but also Russian stock market in general. Among other topics for discussion were further plans related to taxation improvement, procedures associated with corporate actions and information disclosure.
Among the participants of the roundtable event were senior managers of NSD, Katerina Sizova, Head of Direct Custody and Clearing Russia, J.P. Morgan, Alexei Fedotov, Head of Securities and Fund Services, Citibank, Philippe Laurensy, Regional Head, Euroclear UK and Ireland, Irène Mermigidis, Executive Vice President, Clearstream Banking, Bruce Sim, Co-Head of Relationship Management Americas, Clearstream Banking. The event was moderated by Francesca Carnevale, Editorial Director, FTSE Global Markets.
Eddie Astanin, Chairman of the Executive Board, NSD, commenting on the results of the roadshow, said: “We saw the great interest of American investors in the changes in the Russian market. It was important for us to answer their questions and understand their needs in development of the trading and post-trading infrastructure. This will help us to determine what we should focus on and to find optimal solutions together with regulators. Such systemic work and direct communications with the investment community are aimed at some practical results – to attract international investors to Russia and to demonstrate the attractiveness of investments in Russian securities.”