Ref. НРД-И-2024-3939 of 03 April 2024
Attn.: NSD clients
NSD Payment System participants
Issuers
Registrars
NSD acting as a money transfer operator and the operator of the NSD Payment System (registration number 0014 in the register of payment system operators), further to Notice 28845 of 28 November 2023, informs you of how its services will be provided during the May 2024 holidays, including the temporary operating procedures of the NSD Payment System ("NSD PS") during this period.
1. 1 and 9 May 2024 are non-working holidays in the Russian Federation, on which NSD will be closed for servicing its clients (including NSD Payment System participants).
2. On 29 and 30 April, and 10 May 2024, NSD will provide depository and banking services to its clients, including money transfers in the NSD Payment System, subject to the rules set out by the Bank of Russia and correspondent banks.
2.1. Cash transfers to and from accounts of NSD's clients, including NSD Payment System participants, will be executed subject to any changes in the operating hours of the Bank of Russia Payment System and external contractors:
- in Russian roubles and US dollars in accordance with NSD's rules for transactions in the respective currencies, except for transactions in Russian roubles for Type "C" Accounts;
- transfers in other currencies are only possible through the NSD Payment.
2.2. There will be no clearing sessions in the Commodity Market.
2.3. Collateral management services will be provided as usual, subject to the operating hours of the Bank of Russia Payment System and external contractors, and subject to:
- the schedule of Bank of Russia repo transactions (regulated and non-regulated) on 29 and 30 April and 10 May 2024;
- specific requirements set forth by the Russian Federal Treasury, St. Petersburg Finance Committee, and Leningrad Region Finance Committee, including the collateral requirements.
Dear NSD's clients using repo transactions with the Bank of Russia, please note that if credit institutions have open repo transactions with the Bank of Russia as of 29 and 30 April, and 10 May 2024, the securities held as collateral will be revalued at current prices in accordance with the Procedure for Interaction between Clients and NSD in the Provision of Collateral Management Services. So please, make sure that you have sufficient securities and/or cash to meet mark-to-market requirements.
2.4. NSD will not be providing LOU services, including LEI assignment/verification/acceptance/transfer; NNA services for assignment of ISINs and CFIs to financial instruments where NSD acts as a national numbering agency, as well as services for provision of or assistance in assigning ISINs and CFIs to international financial instruments.
2.5. Messages sent by users of IT Services (Transit, Financial Messaging Transit, SWIFT Service Bureau) will be recorded and processed automatically (no transactional support will be available).
2.6. No services will be provided to assist securities holders to exercise their rights attached to Russian securities, other than services provided automatically, such as:
- notifications on record dates and sending reminders of forthcoming corporate actions (CAs);
- Acceptance and processing of CA Instructions;
- Acceptance and processing of instructions to register a list of securities holders disclosed / changes therein.
2.7. No services will be provided to assist securities holders in exercising their rights attached to non-Russian securities, other than services and transactions that require prompt execution, such as:
- CA notification;
- Securities transactions resulting from CAs, including the blocking of securities;
- CA cash movement (credit/debit).
2.8. NSD and NSD Payment System will not be accepting for execution any documents (including cash transfer instructions) in hard copy, and will not be accepting untyped electronic documents (files) via the NSD EDI System, other than documents related to investigations of payments in Russian roubles and foreign currency and documents required for foreign exchange control purposes. NSD will start executing documents in hard copy and untyped electronic documents received on the dates specified in paragraph 2 of this notice (if any) on 2 and 13 May, respectively.
2.9. Transactions to be executed on the basis of any documents other than those referred to under paragraph 2.8 above and that require interaction with external counterparties will be executed subject to such counterparties' operating hours.
2.10. Messages sent by users of Repository Services (including the Registrar of Financial Transactions) will be recorded and processed automatically (no transactional support will be available). Messages received on 29 and 30 April and 10 May 2024 (provided that they are successfully validated and matched) will be recorded for 2 and 13 May 2024, respectively.
2.11. Fair value of securities will be measured and published by the NSD Valuation Center as usual.
2.12. NSD will provide technical support to the extent and within the timeframes required for the provision of services and execution of transactions.
2.13. Transactions involving liaising with external counterparties will be executed depending on the counterparties' operating hours.
3. On 27 April 2024, a business day (Saturday) in Russia, NSD will be providing depository and banking services (including services of the NSD Payment System), as well as NSD's Trade Repository services (including services provided by the Registrar of Financial Transactions), information and other services as usual.
For all questions related to this notice, please contact us: