O/Ref. 18691 dated 01/6/2023
Attn.: NSD clients
National Settlement Depository (NSD) in accordance with the Executive Board decision dated 01/6/2023 announces as follows:
1. From 01/6/2023 through 31/12/2023 NSD establishes a marketing period, during which no fee is charged for services related to transfer of securities of Russian and (or) foreign issuers involving the transfer of ownership as a result of transactions between a resident and a non-resident (clause 4.1 and/or 15.1 of the NSD Depository Services Fees), provided that the following conditions are met:
- Transfer of securities of Russian and (or) foreign issuers as a result of transactions authorised by the Government Commission.
- This is the transfer of securities under counter instructions of the Sending Client (or the securities account/sub-account operator) and the Receiving Client (or the securities account/sub-account operator) without cash settlement (Transaction Code 16 and 16/1), (including for type "C" securities account transactions), subject to the approval of the Government Commission authorisation and the following wording in the Additional Information field of the instruction: “Transfer on the basis of authorisation of the Government Commission dated (date)”.
and (or):
- Securities are transferred within the same securities account under Client’s instruction (transaction code 20) and the following wording in the Additional Information field of the instruction: “Transfer on the basis of authorisation of the Government Commission dated (date)”.
The marketing period shall apply (including to type "C" securities accounts) provided that transactions conducted in accordance with this clause, comply with legal requirements, including regulations of the Bank of Russia and decisions of the Board of Directors of the Bank of Russia, and official explanations of the Bank of Russia.
2. From 01/6/2023 NSD terminates the marketing period established by the Executive Board decision dated 27/4/2023 for services related to transfer of securities of Russian and/or foreign issuers from a non-resident to a resident as a result of transactions authorised by the Government Commission.
If you have any enquiries regarding this notice, please contact your account manager at NSD on +7 495 956-27-90, +7 495 956-27-91.