On 24 May 2017, a meeting of the Supervisory Board of National Settlement Depository (NSD), Russia’s central securities depository, took place.
The members of the Supervisory Board approved new versions of the following documents:
- Fee Schedule for Depository Services;
- Fee Schedule for NSD Services Related to Performing Transactions with Securities in Respect to Which NSD Opens Nominee CSD Accounts or Acts as a Party Performing Mandatory Centralized Custody;
- Fee Schedule for Cash Transfer and Related Services;
- List of Procedures for Providing a Participant with an Access to EDI, Conducting EDI, and Fees for using NSD EDI System;
- Fee Schedule for Services Provided under Collateral Management Services Agreements .
The Fee Schedule for Cash Transfer and Related Services was amended due to a negative rate for safekeeping cash that was denominated in a foreign currency. Given the changes made, the payment for the safekeeping of cash denominated in a foreign currency will be calculated based on the effective rates of fees (which will be published on NSD’s website); this will allow clients to forecast their expenses for the safekeeping of cash denominated in a foreign currency.
A fee for submitting paper reports on the balances on client accounts with NSD for third parties was also introduced. This was decided on due to the present market practice of charging for this type of service and the increased number of client requests for it (which generated operational costs).
For issuers of general collateral certificates (GCCs), a fee for using the collateral management system to conduct operations with GCCs was extended until 31 December 2017 (inclusively).
Editorial revisions were made in the remaining above-mentioned fee schedules.
The Supervisory Board of NSD considered and took into account the following reports:
- NSD Report on Significant Risks for Q1 2017;
- NSD Report on the Amount of Capital, Results of Capital Adequacy Assessment and on Compliance with Compulsory Ratios for Q1 2017.