MOSCOW - National Settlement Depository (NSD), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, reports that its Supervisory Board at the meeting held 30 January made a decision to change in Tariffs for Settlement and Cash Operations held by NSD for its clients. The tariff in the amount of 10% of the sum of a transfer held by means of paper payment order which had been approved previously is to be charged to the clients who did not conclude EDI agreements with NSD or to the clients who terminated EDI agreements with NSD.
It is worth reminding that on 11 October, 2011, the Board approved a tariff in the amount of 10% of the sum of a transfer conducted by submitting a paper payment order for the clients with whom NSD terminated EDI agreements on its initiative. The tariff was introduced in order to take measures aimed at anti-money laundering and counter financing of terrorism.
Change in tariff is aimed at prevention of avoiding paying the previous tariff by means of termination of the EDI agreement by the client. Now the tariff is applicable in cases when a client terminates the EDI agreement on his/her own initiative.
The amended tariff will be put into effect starting 1 March, 2012. Detailed information is to be available since the same date at the company's web site in the Tariffssection (in Russian).
The Supervisory Board recognized NSD's Internal Audit System as satisfactory and in general as conforming to the nature, scale and terms of activities of NSD being both the non-banking credit organization and the professional securities market participant.
NSD's Supervisory Board approved a Plan of NSD Internal Audit Division’s Operations for 2012, a Plan of Activities of the Department of Internal Audit of the Professional Securities Market Participant of the NSD Internal Audit Division for 2012, and took the company's Controller's report for 4Q 2011 into consideration.
About NSD
National Settlement Depository (NSD) is the largest settlement depository in Russia, a part of the MICEX-RTS Group, servicing on-exchange and OTC transactions with all types of debt and equity securities of Russian issuers and providing settlement services to participants in financial markets of the Russian Federation.
NSD provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, the majority of transactions with equities and also services UIT units and securities of foreign issuers.
In accordance with agreements concluded between NSD and the Bank of Russia, NSD acts as a settlement center for the organized securities market.
NSD is Russia's national numbering agency and the substitute numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.
For further information about NSD: http://www.nsd.ru/, or NSD Public Affairs Division: +7 495 232 0910,
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