NSD has started to settle securities transactions on a DVP basis using correspondent accounts held by clearing participants and their clients with the Bank of Russia in 9 clearing sessions. Before, settlements were available in 4 clearing sessions only.
Denis Buryakov, Managing Director, Head of Depository and Clearing Services Center, NSD: “The opportunity to settle transactions in Central Bank money is a global best practice. We are pleased that by making settlements on a DVP basis in Russian rubles clients are flexible in managing their liquidity: trading participants now can use both trading bank accounts with NSD, and correspondent accounts with the Bank of Russia. Both options have the key advantage offered by DVP transactions: their security, promptness, and the transparency of fees charged. By making DVP settlements through correspondent accounts with the Bank of Russia available in all clearing sessions, NSD offers its clients the possibility to settle their trades as effectively as possible.”
Settlements on a DVP-1 basis in Central Bank money are available at NSD since 2015, while settlements on a DVP-2/DVP-3 basis are available to clients with effect from 10 January 2020.