O/Ref. No. НРД-И-2024-17383 as of 02 December 2024
Attn NSD's Clients
NSD Payment System participants
Issuers
Registrars
Further to Notice No. НРД-И-2024-14274 dated 21 October 2024, National Settlement Depository (NSD) hereby announces its service arrangements on 28-31 December 2024 and during the New Year holidays in 2025, including the operating schedule of the NSD Payment System1 ("NSD PS") during this period.
1. On 28 December 2025, a business day (Saturday) in Russia, NSD will be providing depository and banking services (including services of the NSD Payment System), tri-party services, NSD's Trade Repository services (including services provided by the Registrar of Financial Transactions), and information services as usual.
2. 31 December 2024, 1, 2 and 7 January 2025 will be non-business days, and no services will be provided to NSD's clients (including NSD Payment System participants).
3. On 30 December 2024 and 3, 6 and 8 January 2025, NSD will be providing depository, bank account, and clearing2 services, including NSD Payment System services, during the hours set out in the relevant agreements (including in the NSD Payment System Rules), subject to the following:
3.1. Cash transfers to and from the accounts of NSD's clients, including participants in the NSD Payment System, will be executed subject to any changes in the operating hours of the Bank of Russia Payment System and external contractors:
- in Russian roubles in accordance with NSD's rules for transactions in Russian roubles, except for transactions for Type "C" Accounts;
- transfers in currencies other than RUB are only possible through the NSD Payment System;
- bank account statements for transactions in RUB as of 30 December 2024 (including bank accounts of NSD Payment System participants) will be issued on 30 December 2024;
- bank account statements for transactions in RUB as of 30 December 2024 (including bank accounts of NSD Payment System participants) will be issued on 30 December 2024;
3.2. There will be no clearing sessions in the Commodity Market.
3.3. Collateral management services will be provided as usual, subject to the operating hours of the Bank of Russia Payment System and external contractors, and subject to:
- the schedule of Bank of Russia repo transactions (regulated and non-regulated);
- specific requirements set forth by the Russian Federal Treasury, St. Petersburg Finance Committee, and Leningrad Region Finance Committee, including the collateral requirements.
Dear NSD's clients entering into repo transactions with the Bank of Russia, please note that if credit institutions have open repo transactions with the Bank of Russia as of 31 December 2024, the securities held as collateral will be revalued at current prices in accordance with the Procedure for Interaction between Clients and NSD in the Provision of Collateral Management Services. From 1 January 2025 until 8 January 2025, please keep this in mind and ensure you have sufficient securities and/or cash to meet margin calls.
3.4. NSD will not be providing LOU services, including LEI assignment/verification/acceptance/transfer; NNA services for assignment of ISINs and CFIs to financial instruments where NSD acts as a national numbering agency, as well as services for provision of ISINs and CFIs to international financial instruments.
3.5. 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).
3.6. No services will be provided to assist securities holders to exercise their rights attached to Russian securities, other than services provided automatically, such as:
- Notifications on record dates and sending reminders of forthcoming corporate actions (CAs);
- Acceptance and processing of CA Instructions;
- Acceptance and processing of instructions to register a list of securities holders disclosed / changes therein.
3.7. 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;
- Securities transactions resulting from CAs, including the blocking of securities;
- CA cash movement (credit/debit).
3.8. NSD and 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 related to investigations of payments in Russian roubles and foreign currency and documents required for foreign exchange control purposes. NSD will start executing documents in hard copy and untyped electronic documents received on the dates specified in paragraph 3 of this announcement (if any) on 9 January 2025.
3.9. Transactions to be executed on the basis of any documents other than those referred to under paragraph 3.8 above and that require interaction with external counterparties will be executed subject to such counterparties' operating hours.
3.10. Messages sent by users of Repository Services (including the Registrar of Financial Transactions) will be recorded and processed automatically (no transactional support will be available). Messages received between 29 December 2024 and 8 January 2025 (subject to successful validation and matching) will be registered on 9 January 2025.
3.11. The fair value of securities will be measured and published by the NSD Valuation Center as usual.
3.12. On these days, NSD will provide technical support to the extent and within the timeframes necessary for the provision of services and the execution of transactions.
For all questions related to this notice, please contact us:
- Clients: the NSD Customer Relations team by phone:
+7 495 956-27-90, +7 495 956-27-91; - Issuers: the Issuer Relations team by phone on +7 495 232-05-27 and by e-mail at ;
- Registrars: the Registrar Relations team by phone on +7 495 232-02-73 and by e-mail at .
1 The NSD Payment System operator is registered by the Bank of Russia in the Register of Payment System Operators under registration number 0014
2 Clearing Services will be subject to the operating hours of the Bank of Russia Payment System and external contractors.