EN
To carry out settlements with foreign securities, these securities must be accepted for servicing in ICSD and NSD.
NSD offers the following types of settlements through ICSD:
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.
Central Securities Depositories Regulation (CSDR) — European Parliament regulation on improving securities settlement procedures in the European Union and regulating central securities depositories activities. Adopted by European Parliament on July 23, 20141.
Settlement discipline regime (SDR) — section of CSDR that defines regulatory standards for applying measures to improve settlement procedures for transactions on European securities markets, united by the concept of "settlement discipline". Technical requirements for SDR implementation (Regulatory Technical Standards on Settlement Discipline) were adopted by European Commission on May 25, 20182.
Measures provided by CSDR SDR regarding settlement procedures for transactions on European securities markets apply to all settlement participants in European (I)CSDs.
NKO AO NSD, being a client of European ICSDs, Euroclear Bank and Clearstream Banking, adapts its operational activities according to updated requirements and rules for carrying out settlements in (I)CSDs.
Changes will affect NSD depositors who use services for carrying out settlements in European (I)CSDs.
Technical requirements for CSDR Settlement Discipline Regime regarding cash penalties came into force on 01.02.2022.
In case of questions regarding adaptation of NKO AO NSD to CSDR requirements, you can contact your client manager, as well as send your questions to a special email address: csdr@nsd.ru.
For executing operations on DVP terms, opening special sections on the owner's securities account, trust manager's securities account or nominee holder's securities account is not required. Securities can be credited/debited to/from any sections of securities accounts of these types at NSD, if this does not contradict the functioning rules of sections of a specific type. The exception is UK securities, the features of crediting which are described in the section devoted to local markets.
1 If necessary to maintain separate accounting of securities of a specific client of the depositor on the nominee holder's securities account.
2 The securities account/section operator or trustee of the securities account can register details of their bank account at NSD only to that account/section of the securities account (applicable to the operator) for which they are appointed operator/trustee. For this, it is necessary to provide an application for bank account registration and an instruction for bank details registration in form AF005 with attachment of bank details notification in form GF088 (operation code 07, purpose code 10).
When conducting operations on DVP terms in ICSD (international clearing organizations) on the securities account, section or sections of the securities account to which an Operator is appointed, settlements may be made through the Operator's bank accounts opened at NSD. The procedure for opening a bank account is described on the NSD website in the "Banking Services" section.
A detailed description of the work scheme through the securities account operator/securities account section operator is available on the NSD website as "User Guide for Working Through Securities Account Operator".