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NSD Launches a Service for Prioritizing Instructions When Settling Securities Transactions

19 May 2017

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National Settlement Depository (NSD), Russia’s central securities depository, has launched a service allowing for the prioritization of the execution of instructions when settling securities transactions on a DVP basis (transaction code 19/0) or a FOP basis (transaction code 16).

The prioritization service complies with international central securities depositories’ practice, increases settlement efficiency, and allows clients to flexibly manage prioritizing the execution of instructions to deliver assets.

Prioritization is used in regard to other instructions with transaction codes 19/0 and 16 for delivering securities of the same issue submitted to the same securities sub-account and having the “for execution” status.

Clients may use three types of priorities. A high type is set for priority transactions; a moderate type is used for transactions with moderate priority; and a low one is automatically established when high and moderate priorities are not applicable.

No sign up is required for the service, and users do not need to open special securities sub-accounts; the NSD system prioritizes instructions to deliver securities automatically in accordance with the priorities indicated in the instructions.

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