Transactions at CSDs of CIS countries

In 2005, NSD opened a foreign nominee securities account with Central Securities Depository JSC, Republic of Kazakhstan (KACD). KACD keeps records of government, municipal, and corporate securities and, as authorized depository, provides services with respect to securities issued by the Ministry of Finance and the National Bank of the Republic of Kazakhstan.  KACD acts as nominee holder of financial instruments on behalf of its clients and their customers. KACD opens accounts for its clients to keep records of financial instruments held by them and to register transactions in such financial instruments. The positions of NSD's clients are recorded in NSD's account with KACD on an aggregate basis.

Currently, NSD provides services with respect to zero-coupon government bonds of the Republic of Kazakhstan. Requests for services with respect to fixed or floating-rate government bonds, shares, or corporate bonds of Kazakhstani issuers are considered on a case-by-case basis.

Transactions
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Kazakhstani securities may be held at NSD in owner securities accounts, trustee securities accounts, nominee securities accounts, or foreign nominee securities accounts.

The following transactions are available for Kazakhstani securities: securities transfers (both within a single securities account and between different securities accounts), and acceptance of securities for and/or withdrawal of securities from safekeeping and/or recordkeeping, subject to any restrictions set out in the securities account agreement. Transactions are available either on the FOP or DVP basis.

NSD supports settlements in the following currencies:

  • RUB
  • USD
  • KZT
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Deadlines for submission of instructions by clients:
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DVP – 12:00 SD
FOP – 14:30 SD

Moscow time. SD means Settlement Date. A Settlement Date must be either the then current or a future date, as KACD rejects instructions with a past Settlement Date. For DVP/FOP settlements, the mandatory fields in an instruction are transaction amount, transaction currency, and price per security.

The detailed information on transactions, instruction completion guidelines, and procedure for submission and execution of instructions is available in the  Manual for Kazakhstan's CSD.

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Corporate actions
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The laws do not provide for an issuer's obligation to ensure the conduct of CAs through registrars or securities depositories.

There is no 'cascade' scheme in place to enable the exercise of rights attached to securities.

  • NSD only notifies of a CA upon receipt of information regarding the CA from KACD.
  • Income payment

Income payable on securities is paid by Kazakhstani issuers directly to securities holders' bank accounts the details of which were provided at the time of disclosure of information on securities holders.

The amount of income or redemption proceeds in Kazakhstani tenge (KZT) is not converted into RUB or any other foreign currency.

Where cash funds required to pay income on securities are credited to NSD's account, NSD makes payments to its clients (securities holders) only if the information received from KACD is sufficient for unconditional and unambiguous determination of the applicable payment method.

  • Lists of securities holders
Upon receipt of a request from KACD to disclose securities holders, NSD will send a CA Notification/Request (the "Request") to its clients. Within the time limits specified in the Request, clients are required to disclose securities holders and to submit an instruction to register a list of securities holders (Form RF005). The required format of a List is available on NSD's official web site at www.nsd.ru.
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Submission of documents for foreign exchange control purposes
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Clients and NSD may exchange electronic documents relating to foreign currency transactions subject to foreign exchange controls ("Foreign Exchange Control Documents") via NSD's Electronic Data Interchange (EDI) System.

List of Foreign Exchange Control Documents to Be Submitted by Russian Resident Clients (Other Than Credit Institutions) to Enable NSD to Perform Its Foreign Exchange Control Duties in the Course of Securities Settlements

EDI Participants interchange Foreign Exchange Control Documents via the NSD EDI System in accordance with NSD's Electronic Data Interchange Rules. To interchange Foreign Exchange Control Documents, the NSD EDI System’s Local Interface (LUCH software) is used.

Electronic data interchange implies transmission (receipt) of transit untyped electronic documents using the 'open envelope' schema in accordance with the NSD EDI System’s Local Interface User Manual (for LUCH software).

For the purposes of interchanging transit documents, it is required to use the JPG format and to indicate, as the recipient, NSD's identifier: NDC000DDR000.

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Signing up for the service
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For FOP transactions:

For DVP transactions:

For DVP transactions, it is not required to open any special sub-accounts in an owner securities account, trustee securities account, or nominee securities account. Securities may be transferred to/from any sub-accounts of such securities accounts held with NSD, unless this is inconsistent with the operating rules applicable to sub-accounts of a particular type.

The description of how to work via a securities account/sub-account operator is available on NSD's web site, in the User Guidelines "Working via an Account Operator".

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NSD holds a nominee account with the Central Depository of Armenia (CDA). The nominee account is intended for holding government and corporate bonds, as well as shares of Armenian issuers. The positions of NSD's clients are recorded in NSD's account with CDA on an aggregate basis. Since October 2019, NSD provides services with respect to securities issued by Armenian issuers who have contracts with CDA which govern the process of information disclosure to CDA.

Transactions
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Armenian securities may be held at NSD in owner securities accounts, trustee securities accounts, nominee securities accounts, or foreign nominee securities accounts (collectively, "securities accounts").

NSD's account with CDA may be used to make OTC transactions for acceptance/withdrawal of securities for/from servicing, on the FOP basis.

The maximum time for execution of instructions, as required by CDA, is three business days.

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Corporate actions
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The laws do not provide for an issuer's obligation to ensure the conduct of CAs through registrars or securities depositories. However, an issuer may have a contract with CDA which governs the process of information disclosure, including with respect to CAs.

There is no 'cascade' scheme in place to enable the exercise of rights attached to securities.

NSD only notifies of a CA upon receipt of information regarding the CA from CDA.

  • Income payment

Income on government securities of the Republic of Armenia is remitted by CDA in Armenian drams (AMD) to NSD's correspondent account with Interstate Bank; afterwards, NSD distributes such income to its clients holding the relevant securities.

Income on corporate securities is paid directly by Armenian issuers to securities holders' bank accounts the details of which were provided at the time of disclosure of information on securities holders. Therefore, securities holders and their authorized persons (including nominee holders) who are NSD's clients must provide NSD with necessary information in a timely fashion. All financial risks resulting from failure to provide, or to provide in due time, information requested by CDA are borne directly by NSD's clients and their customers.

To receive income in Armenian drams (AMD), it is required to register a bank account held with another bank. NSD does not open bank accounts in AMD. If an issuer pays income in any other currency, such payment may be made to bank accounts held with NSD (provided that NSD opens bank accounts in the relevant currency).

The amount of income or redemption proceeds in AMD is not converted into RUB or any other foreign currency.

  • Lists of securities holders

Upon receipt of a request from CDA to disclose securities holders, NSD will send a CA Notification/Request (the "Request") to its clients. Within the time limits specified in the Request, clients are required to disclose securities holders and to submit an instruction to register a list of securities holders (Form RF005). The required format of a List is available on NSD's official web site at www.nsd.ru.

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Services provided with respect to securities of certain Armenian issuers
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Please note that, if you decide to hold securities of the following Armenian issuers in securities accounts with NSD, you acknowledge and agree that the rights attached to such securities are to be exercised directly via those issuers:

  • “International Energy Corporation” CJSC (ISIN: AMINPCS10ER3)
  • METSAMORENERGOATOM CJSC (ISIN: AMMCMRS10ER3)
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Deadlines for submission of instructions by clients
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FOP – 18:00 (SD)

Moscow time. SD means Settlement Date.

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NSD holds a correspondent securities account with Republican Unitary Enterprise “Republican Central Securities Depository”, Republic of Belarus (RCSD). The account can be used for holding government and corporate bonds, as well as shares of Belarusian issuers. The acceptance of corporate bonds and shares is considered on a case-by-case basis.

Transactions
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Belarusian securities may be held at NSD in owners’ securities accounts only.

There are two types of transfers available at RCSD:

  • An intra-depository transfer, i.e., a transfer from a securities account of NSD's client to a securities account of NSD's another client. Such transfers are only available for government securities.
  • An inter-depository transfer, i.e., a transfer from NSD's account with RCSD to an account of another depository with RCSD (or vice versa).

Currently, only FOP instructions may be settled in NSD's account with RCSD.

Please note that:

  • An instruction to debit securities (Form MF036) (transaction code - 36) must contain the following details:
    • the name of the depository to whose correspondent LORO securities account/sub-account with RCSD the securities are to be transferred (the "transferee depository");
    • the number of the transferee depository's correspondent LORO securities account; and
    • the name of the transferee depository's client to the benefit of whom the securities are to be transferred (the "transferee"), and the number of his securities account/sub-account with the transferee depository.
  • To have Belarusian securities credited to a securities account with NSD, transaction code 37 must be indicated in the instruction to accept the securities for safekeeping and/or recordkeeping (Form MF035), in the 'Transaction code' field.
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Corporate actions
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The laws do not provide for an issuer's obligation to ensure the conduct of CAs through registrars or securities depositories.

There is no 'cascade' scheme in place to enable the exercise of rights attached to securities.

NSD only notifies of a CA upon receipt of information regarding the CA from RCSD.

Upon receipt of information from RCSD regarding the blocking of securities, NSD blocks the relevant securities in the client's securities account (sub-account 38).

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Income payment
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Income on Belarusian securities (other than government securities) is paid by issuers directly to securities holders.

For the purposes of income payment on Belarusian government securities, NSD acts as authorized depository. If necessary, NSD requests its clients to disclose securities holders and then provides a list of securities holders to RCSD.

Clients' bank account details intended for payment of income on Belarusian securities are registered by NSD in accordance with the applicable procedure for registration of bank account details for payment of income in a foreign currency.
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Lists of securities holders
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Upon receipt of a request from RCSD to disclose securities holders, or upon receipt of a notice regarding the collection of applications for redemption of, and/or income payment on, government securities from RCSD, NSD will send a CA Notification/Request (the "Request") to its clients. Within the time limits specified in the Request, clients are required to disclose securities holders and to submit an instruction to register a list of securities holders (Form RF005). The required format of a List is available on NSD's official web site at www.nsd.ru.

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Deadlines for submission of instructions by clients
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FOP – 15:30 SD

Moscow time. SD means Settlement Date.

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