Ref. 47-20/2440 dated 22 April 2020
Attn.: NSD's clients
NSD Payment System participants
Registrars
This is an update to communication Ref. No. 47-20/1176 dated 19 February 2020 . Please be advised that NSD, including the NSD Payment System, will be operating over the public holiday period in May 2020 as follows:*
1. 4 and 5 May 2020: NSD will be providing depository, clearing, and bank account services, including NSD Payment System services, at hours provided for in the relevant agreements (including in 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. NSD and NSD Payment System will not be accepting for execution any documents (including cash transfer instructions) in hard copy (including those sent via communications service providers), 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).
1.3. No foreign exchange transactions will be processed.
1.4. No services to support securities holders in exercising their rights attached to Russian or non-Russian securities (such as providing information on, and assisting in participating in, corporate actions) will be provided, save for the provision, in a standby mode, of information on corporate actions involving non-Russian securities, as well as on certain money/securities debit/credit transactions as part of corporate actions. Given that 4 and 5 May 2020 are public holidays in the Russian Federation, delays are possible in such services provided by NSD on those dates.
1.5. Transactions that require interaction with external counterparties will be executed subject to such counterparties’ operating hours.
2. Collateral management services will be provided on 4 and 5 May 2020 as usual, subject to:
- the schedule for Bank of Russia's repo trades in the exchange and OTC markets on 4 and 5 May 2020, 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.
3. Information services on 4 and 5 May 2020 will be available to clients; the NSD Valuation Center will be providing valuation services as usual; any information services-related questions submitted on those dates will be addressed by responsible staff on the immediately next business day. 1 to 3 May and 9 to 11 May 2020: no valuation services will be provided by the NSD Valuation Center.
4. 1 to 3 May and 9 to 11 May 2020 will be public holidays and non-business days, and no services will be provided to NSD's clients (including NSD Payment System participants).
5. 1 to 5 May and 9 to 11 May 2020: NSD's Trade Repository will only provide automated processing of messages. Any messages received on those dates in electronic format and successfully validated and matched will be registered as follows: if received during the period of 1 to 5 May, they will be registered on 6 May 2020, and if received during the period of 9 to 11 May, they will be registered on 12 May 2020.
6. 30 April and 6 to 8 May 2020: NSD will be providing services to clients (including execution of cash transfers in the NSD Payment System) in accordance with the regime effective from 6 April 2020 .
If you have any questions related to this communication, please contact your account managers at: +7 495 956-27-90 or +7 495 956-27-91.
* The NSD Payment System operator is registered by the Bank of Russia in the Register of Payment System Operators under registration number 0014.