MOSCOW - National Settlement Depository (NSD), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, celebrates its 15th anniversary.
Eddie Astanin, Chairman of the Executive Board, NSD, congratulating the company's employees, said: "The employees of MICEX Settlement House taking part in the company's formation and successful development made their contribution to the development of Russian financial market. Now NSD formed on basis of NDC and MICEX SH represents a backbone company in the market's infrastructure; it is a part of MICEX Group, a leader in Russia's stock market."
The State Registration Certificate #3294 was granted by the Bank of Russia to MICEX Settlement House, NSD's predecessor, on 27 June, 1996. NDC, another predecessor of NSD, was founded on 21 January, 1997. NDC was formed as a head depository operating in the governmental securities market; it began functioning in this role in late March 1998. In the same year NDC began working with corporate, sub-federal and municipal securities. After achieving the leading position in a market of Russian issuers' debt instruments, NDC was quickly expanding a scale of its operations with shares, UIT units and Eurobonds. On 3 November, 2010 a reorganization of MICEX SH in the form of NDC's accession was completed. It led to formation of a settlement depository of the new generation with non-banking credit organization license. In the meantime MICEX SH changed its name to NSD.
To date NSD is the largest settlement depository in Russia, servicing on-exchange and OTC transactions with all types of debt and equity securities of Russian issuers and providing settlement services. NSD is a member of leading Russian and international associations specialized in securities settlements industry development.
In accordance with agreements concluded between NSD and the Bank of Russia, NSD acts as a settlement center for the organized securities market, a credit organization authorized to hold settlements on the Bank of Russia's credit and depository operations.
NSD holds settlements directly through the Bank of Russia's Banking Electronic Speedy Payments (BESP).
NSD is Russia's national numbering agency and the substitute numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.
About MICEX Group
The MICEX Group is an integrated exchange that provides services related to electronic trading, clearing, settlements as well as depository and information services. The Group is comprised of the MICEX, the MICEX Stock Exchange, the National Mercantile Exchange, the National Settlement Depository, commercial bank National Clearing Centre, regional exchange and settlement centers, as well as other organizations. The Group serves over 1700 participants in the on-exchange market – leading Russian banks and broker companies from Moscow and other large financial and industrial centers of Russia. At present, the MICEX Group is the largest exchange in Russia, the CIS, Central and Eastern Europe.
In terms of the volumes of on-exchange trading in securities, the MICEX Stock Exchange is among the worlds’ top 25 stock exchanges.