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NSD Conducts First PVP Settlements

10 May 2016

Print version

On 26 April 2016, the first PVP-1 settlements were conducted by JSCB Derzhava PJSC and PJSC JSCB Metallinvestbank.

Payment-versus-payment (PVP) is a cash settlement principle increasing the reliability of settlements and assuming that a participant’s cash transfer in one currency occurs if another participant’s cash transfer in another currency takes place simultaneously.

NSD clients using this service avoid risks of mistiming when executing counter instructions, and do not have to settle on the ‘split’ terms (pre-delivery of funds by one of the settlement parties).

The PVP settlement service is provided to credit organizations only. PVP operations may be conducted only through correspondent and trustee accounts opened by the credit organization with NSD. PVP operations are arranged in Russian rubles, US dollars, Swiss francs, British pounds, Chinese Renminbi and Hong Kong dollars*.

* An up-to-date list of currencies used in PvP operations is available in the account-opening Application on the NSD official website (www.nsd.ru).

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