Ref. No. 4921 dated 29 September 2022
Attn.: NSD’s Clients
To improve the terms of depository services following the decision of NSD's Executive Board dated 29 September 2022, National Settlement Depository (NSD) announces the extension of the previously taken decisions regarding the following marketing periods:
1. From 1 October 2022 through 31 December 2022, during which the transfer of Russian securities recorded by NSD as a central securities depository without transfer of title to those securities recorded by the international securities depository (Section 4.1 of the Fees for Depository Services at NSD) will be free of charge:
- transfer of securities between securities accounts on the instruction of the sending client without confirmation from the receiving client;
- transfer within the same securities account on counter instructions from the client who holds the account and from the operator of the section of the same securities account without the cash settlement, or transfer on counter instructions from the sending client and the client receiving the securities without the cash settlement
The marketing period shall apply to the following transactions, including transactions in type "C" securities accounts, provided that they comply with legal requirements, including regulations of the Bank of Russia, including decisions of the Board of Directors of the Bank of Russia and official explanations of the Bank of Russia and provided that they meet the requirements specified in subparagraphs 1-4 of this paragraph:
- Transactions related to the submission by a client to NSD of an instruction with respect to a nominee securities account opened in its name to debit Russian securities to any type of securities account, where the following is specified in the Additional Information field of the instruction: "Transfer from an account held with an international securities depository without changing the ownership of the securities" (this means that the client represents that there is a foreign nominee holder (a person entitled under personal law to record rights to the securities) in the chain of title who is its client or a client of its clients.
- Transactions related to the submission by a foreign nominee client to NSD of an instruction with respect its securities account with NSD to debit securities of Russian issuers from such account for credit to any securities account with "Transfer from an account held with an international securities depository without changing the ownership of the securities" indicated in the Additional Information field of the instruction.
- Transactions related to the submission of a securities instruction with respect to a holder account opened in the name of a non-resident to transfer securities to a nominee holder account with wording "Transfer from a foreign holder account to a securities account with another Russian securities depository without changing the ownership" indicated in the Additional Information field of the instruction.
- By the last business day of the calendar month, the Client who submitted the respective instruction has submitted to NSD a list of the instructions executed during the calendar month.
2. From 1 October 2022 through 31 December 2022, during which the following services will be free of charge:
- acceptance of international securities for safekeeping and/or recordkeeping through international securities depositories, other than CIS countries depositories, on FOP and DVP terms (Sections 12.1 and 12.2 of NSD Fees for Depository Services)
- withdrawal of international securities from safekeeping and/or recordkeeping through international securities depositories, other than CIS countries depositories, on FOP and DVP terms (Sections 13.2 and 13.3 of NSD Fees for Depository Services).
3. From 16 October 2022 through 31 December 2022, during which the transfer of shares from/to the section Securities Represented under Depositary Programs of the securities account for their subsequent depositing to securities accounts on instruction of the client receiving the shares to its account.
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.