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Raiffeisen Bank International Opens Foreign Nominee Securities Account with NSD
June 20 2019
National Settlement Depository (NSD), Russian central securities depository, continues to develop services integrated into the global financial system. Raiffeisen Bank International (Vienna) has become the first foreign custodian bank to establish a direct link with the Russian securities market by opening a foreign nominee securities account directly with the Russian CSD. Due to this, the bank can provide its clients with access to a wide range of Russian financial instruments and NSD services.
The changes in Russian laws regulating the securities market which established the universal terms of international financial infrastructure participants’ access to the Russian market made it possible to establish the cooperation. Previously, only international and other countries’ CSDs had been allowed to open foreign nominee securities accounts with the Russian CSD. Foreign banks and custodians had been seeking other ways to use the services. Expanding the options for foreign investors’ access to the Russian securities market makes it more attractive and convenient.
«Establishing a direct link with the Russian central securities depository will expand the range of market access options which we provide our clients with and will contribute to the inflow of capital to the Russian securities market," said Attila Szalay Berzeviczy, Executive Director Head of Group Securities Services, Raiffeisen Bank International.
«An opportunity for foreign companies to open foreign nominee accounts with NSD means diversification of channels through which foreign investors can access the Russian market. We believe that such a model will add value to clients of Raiffeisen Bank International who are interested in making transactions in the Russian market», said Eddie Astanin, Chairman of NSD’s Executive Board.
About National Settlement Depository
National Settlement Depository (NSD), a part of the Moscow Exchange Group, is the central securities depository* of the Russian Federation.
NSD was founded 27 June 1996. On 31 March 2019, the total value of securities under custody amounted to RUB 46.2 trillion. The Bank of Russia recognized NSD as a systemically important central securities depository, settlement depository, and repository. The NSD payment system has the status of a systemically and nationally important system.
NSD offers a wide range of services to its clients, including depository services, cash and settlement services, OTC transaction registration (repository services), information services, collateral management services, and technological services.
The Bank of Russia has assigned NSD the status of an operator of the NSD Payment System (registered name).
NSD settles
For additional information about NSD, please visit www.nsd.ru/en.
The central securities depository status was assigned to NSD by the Russian Federal Financial Markets Services’ Order No. 12–2761/
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