If necessary to carry out settlements in other foreign currencies, the client may contact NSD with a letter in free form indicating the currency in which they would like to conduct settlements. After receiving such request, NSD will consider the possibility of organizing settlements in other currencies.
Permissible currencies for DVP settlements with counterparties on local markets are specified in the description of settlement features for each specific local market.
To open IA in ICSD, it is necessary:
at least one bank account (hereinafter — Special Account), intended both for receiving income and for conducting DVP operations on securities that will be recorded on IA in Euroclear Bank, or
two Special Accounts at NSD in one currency: special depository account intended for receiving income, and special brokerage account for conducting DVP operations on securities that will be recorded on IA in Euroclear Bank (applicable for non-credit organizations — broker).
To open a Special Account or pair of accounts under IA in ICSD service, the client must provide NSD with application for opening Special Account with special feature and indication in the application of the currency serviced at NSD for settlements in ICSD.
Submit instruction (form AF090, operation code 90/ECS) to open special securities account section "Securities on Individual Account in EUROCLEAR BANK" (hereinafter — special XE section), which must specify the number of Special Account opened at NSD under IA in ICSD service, or numbers of pair of Special Accounts opened at NSD under ICSD service in one currency. It is allowed to specify in depository instruction to one special section several Special Accounts in different currencies, while no more than two in the same currency when using pair of Special Accounts. Opening special XE section is allowed on owner's securities accounts (S), trust manager's securities accounts (D) and nominee holder's securities accounts (L).
During execution of instruction, IA opening procedure in ICSD is initiated and bank details are registered for receiving income and conducting DVP operations on securities with accounts specified in instruction. Upon execution results, report in form AS090 is provided with number of IA opened in ICSD and reports on bank details registration in form AS005 with attachment of bank details notification including details with 06 purpose code "For transfer of income and other payments on securities (permanent details)" and with 10 purpose code "For accepting securities for custody and/or recording on DVP terms/removing securities from custody and/or recording on DVP terms".
If American securities are planned to be credited to individual account, it is recommended to provide appropriate form for IRS tax procedures and application. In case of untimely form submission, applicable tax will be withheld at 30% rate.