Ref. No. НРД-И-2024-6608 dated 3 June 2024
To NSD's clients
NSD (hereinafter referred to as "NSD") hereby announces that pursuant to the decision of NSD's Executive Board dated 23.05.2024, from 01.06.2024 to 31.12.2024 (inclusive), a marketing period will be introduced during which no fees will be charged for services related to the transfer of securities of Russian and/or foreign issuers (Clause 15.1 and Clause 4.1 of the NSD's Depository Services Tariffs) with transfer of title as a result of transactions where one party is a Russian resident1 and the other party is a Russian resident, friendly non-resident2 or CFC3.
This marketing period is valid for securities transfer services provided that the following conditions are met:
1. Transfer of securities of Russian and (or) foreign issuers ISINs of which are specified in the:
- official information from a resident holder of securities (shares) of a Russian issuer or other person exercising rights in securities (shares) of a Russian issuer submitted to NSD containing information on a public offer (invitation to make an offer) by such resident holder of securities (shares) of a Russian issuer and/or other person, exercising rights in securities (shares) of the Russian issuer to the owners of securities (shares) of a foreign issuer to enter into transactions aimed at exchanging securities (shares) of the foreign issuer for securities (shares) of the Russian issuer,
AND
- a public offer (invitation to make offers) by that resident holder of securities (shares) of the Russian issuer or another person exercising rights on securities (shares) of the Russian issuer to the holders of securities (shares) of the foreign issuer to conclude transactions aimed at exchanging securities (shares) of the foreign issuer for securities (shares) of the Russian issuer;
2. Transfer of securities of Russian and (or) foreign issuers shall be carried following way:
- transactions based by the results of clearing at the close of trading on Moscow Exchange aimed at exchanging securities (shares) of the foreign issuer for securities (shares) of the Russian issuer ISINs of which are specified in the information mentioned in point 1 of conditions of marketing period (transaction code 14 - Transfer by the results of clearing at the close of trading).
- over-the-counter orders of the deponent-sender (operator of depo account/depo account section) and deponent-recipient of securities (operator of depo account/depo account section), in which the field "Additional information" specifies "transfer of securities under a public offer/invitation from a resident-person exercising rights on securities of the Russian issuer", without cash settlement (transaction code 16 and 16/1).
The marketing period is valid provided that transactions made under this clause comply with the requirements of the legislation of the Russian Federation, 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.
If you have any enquiries regarding this notice, please contact your account managers at NSD by phone:
+7 495 956-27-90, +7 495 956-27-91
1 As this term is defined by the Federal Law of 10.12.2003 N 173-FZ "On currency regulation and currency control" (hereinafter - 173-FZ)
2 Non-resident (as that term is defined by 173-FZ, not referring to persons who commit unfriendly acts in relation to the Russian Federation, Russian legal entities and individuals
3 Non-resident or foreign structure without legal entity whose controlling person is a resident