NSD introduces Deutsche Bank Trust Company Americas as USD Cash Settlement Bank under USD DVP Settlement Service

20 May 2014
Print version

NSD has finalized the process of connection of Deutsche Bank New York - Deutsche Bank Trust Company Americas (hereinafter DBTCA) as USD cash settlement bank for «delivery versus payment» (DVP) in US dollars.

With the introduction of DBTCA to the settlement structure, the list of USD cash settlement banks has increased. The clients of the NSD may now conduct DVP transactions with the use of cash accounts opened either with Citibank, New York, JP Morgan & Co. New York or Deutsche Bank Trust Company Americas.

The NSD also provides DVP settlement services in roubles and US dollars via cash accounts opened with the NSD directly.

Maria Ivanova, Vice President, Business Development and Client Relations, NSD, noted: "Cooperation with Deutsche Bank Trust Company Americas shall facilitate settlement processes for our clients when making transactions with the Russian securities. DVP settlement service is one of the key services offered by the NSD, with good dynamics. Effectively, in Q4 2013 the number of transactions conducted on DVP basis grew by 89% as compared with Q1 2013.

Ekaterina Kalinina, Director, Head Direct Securities Services, Deutsche Bank Russia, commented: "The launch of the USD DVP settlement service strengthens Deutsche Bank’s position as a leading custodian servicing cross-border investors in Russia, opening a great opportunity for clients. It was a strong team effort across regions, business divisions, IT, operations functions and products, which testifies the Bank’s commitment in delivering complex, cross-border custody solutions to the clients".

«Delivery versus payment» (DVP)

DVP or «delivery versus payment» - is a method of settlement for securities that involves the simultaneous delivery of securities in exchange for the payment.

The service implies the use of new clearing platforms of the NSD, that allows for making DVP transactions in several clearing batches whereby either cash settlements is made on a net basis (DVP-2), or both securities and cash is settled on net basis (DVP-3), and also on trade-by-trade real-time basis whereby both cash and securities are settled on gross basis (DVP-1). DVP settlement service offered by the NSD allows for submitting of a single DVP settlement instruction for transfer of securities and cash, settlement in roubles, foreign currencies (USD or EUR), and also the settlement priority service.

Ask question
— Mandatory fields
 
Обратная связь
— Mandatory fields
 
Send your request and our specialists will contact you as soon as possible
— Mandatory fields