OREANDA-NEWS. National Settlement Depository (NSD), Russia’s central securities depository, announces the beginning of a promotional period for operations conducted using Speedy Settlement Scheme (SSS) via existing “bridges” between NSD and custodians (ING BANK (EURASIA) ZAO, ZAO Citibank, JSC VTB Bank, Sberbank of Russian and JP Morgan Bank International). From 1 March to 1 April 2013, the tariff for each operation will be RUB480 (the standard rate was RUB1,900). The decision on the promotional period has been made due to beginning of the mass transfer of assets to the central securities depository for safekeeping.

To provide comfortable regime and to minimize operating risks during the period of mass transfers of assets from custodians’ accounts to NSD, the company made decision to allow using “bridges” in the weekends (on 2, 10 and 16 March). The clients will be able to use SSS up to 18 March; after this date SSS will be canceled in compliance with the law.