Ref. 47-20/971 dated 11 February 2021
Attn.: NSD's clients
This is an update to communication Ref. No. 47-20/6949 dated 11 November 2020 . Please be advised that on 22 February 2021, NSD will be providing depository, bank, and clearing1 services (including services of the NSD Payment System2), as well as NSD's Trade Repository services (including services provided by the Registrar of Financial Transactions) during the time periods set out in the applicable agreements (including the NSD Payment System Rules), subject to the following:
1.1. 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.
1.2. No foreign exchange transactions will be processed.
1.3. No clearing services in the commodity market will be provided (no clearing sessions in the commodity market will take place).
1.4. Collateral management services will be provided as usual, subject to:
- the schedule for Bank of Russia's repo trades in the exchange and OTC markets on 22 February 2021, and specific requirements set forth by Moscow Exchange with respect to the method of determination of settlement prices to be used in the following trades: "Repo with the Bank of Russia: Repo Auction" and "Repo with the Bank of Russia: Fixed Rate"; and
- specific requirements set forth by the Russian Federal Treasury and St. Petersburg Finance Committee, including the collateral requirements.
1.5. NSD will not be providing LOU services, including LEI assignment/verification/acceptance/transfer; NNA/SNA services for assignment of ISINs and CFIs to securities, as well as services for assistance in assigning ISINs and CFIs to non-Russian securities.
1.6. 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).
1.7. No services will be provided to assist securities holders in exercising their rights attached to Russian securities, other than services provided automatically, such as:
- Notifications on record dates and sending reminders of forthcoming CAs;
- Acceptance and processing of CA Instructions; and
- Acceptance and processing of instructions to register a list of securities holders disclosed / changes therein.
1.8. 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;
- Acceptance and processing of instructions for which the deadline for submission of CA Instructions, as set by NSD, falls on a public holiday;
- Securities transactions resulting from CAs, including the blocking of securities; and
- CA cash movement (credit/debit).
1.9. NSD and the 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 required for foreign exchange control or tax management purposes). NSD will proceed to processing untyped electronic documents received on 22 February 2021 (if any) on 24 February 2021.
- Transactions to be executed on the basis of any documents other than those referred to under item 1.9 above and that require interaction with external counterparties will be executed subject to such counterparties’ operating hours.
- Messages sent by users of Trade Repository services (including services provided by the Registrar of Financial Transactions) will be recorded and processed automatically (no transactional support will be available). Any such messages (provided that they are successfully validated and matched) will be recorded on 24 February 2021.
1.10. Transactions to be executed on the basis of any documents other than those referred to under item 1.9 above and that require interaction with external counterparties will be executed subject to such counterparties’ operating hours.
1.11. Messages sent by users of Trade Repository services (including services provided by the Registrar of Financial Transactions) will be recorded and processed automatically (no transactional support will be available). Any such messages (provided that they are successfully validated and matched) will be recorded on 24 February 2021.
20 February 2021 (Saturday) will be a business day, and NSD will be providing depository, bank, and clearing services (including cash transfers in the NSD Payment System), as well as NSD's Trade Repository services (including services provided by the Registrar of Financial Transactions) and information services during the time periods set out in the applicable agreements (including the NSD Payment System Rules). Transactions that require interaction with external counterparties will be executed subject to such counterparties’ operating hours.
23 February 2021 will be a non-business day, and no services will be provided to NSD's clients (including NSD Payment System participants).
If you have any questions related to this communication, please contact your account managers by telephone: +7 495 956-27-90 or +7 495 956-27-91.
1 In the event of any changes in clearing services provided using correspondent accounts held with the Bank of Russia, further notice will be given.
2 The NSD Payment System operator is registered by the Bank of Russia in the Register of Payment System Operators under registration number 0014.