OREANDA-NEWS. The Supervisory Board of National Settlement Depository (NSD), made the following decisions:
To approve tariffs for NSD services related to agreements on depository services provided during public placement of securities (the Tariffs);
To approve new tariffs for NSD services related to conducting operations with securities in respect of which the CSD nominee account was opened, or with regard to which NSD acts as an entity providing mandatory centralized custody of securities (the Tariffs for the CSD services);
To put the abovementioned tariffs into effect after receipt of Russian Federal Financial Markets Service’s notice of approval of the Tariffs for the CSD services. The tariffs approved by the company’s Supervisory Board have been developed as NSD launched the new service related to preparation and conducting public placement of Russian issuers’ registered shares on stock exchanges.

Moreover, the Supervisory Board has re-appointed Irina Veremeyenko, NSD’s Chief Accountant, Director of Accounting and Reporting Department, as the member of the Executive Board of NSD until 28 April 2015. The members of the Supervisory Board took into consideration the report on fulfillment of the company’s Budget for 2012, as well as the report for 1Q 2013 submitted by NSD’s Controller, Chief of Department of Internal Control of the Professional Intermediary of Securities Market.

The members of the Supervisory Board also took into consideration the information on NSD’s functions as the central securities depository (CSD); in fact, NSD began providing the full scale CSD services in five months since the moment of its accreditation instead of 12 months provided by the law:
work during the transit period has been held in full compliance with the road map developed jointly with leading custodians;
the Speedy Settlement Scheme (SSS) through existing “bridges” between NSD and custodians (ING Commercial Banking, ZAO Citibank, JP Morgan Bank International, JSC VTB Bank and Sberbank) became the key channel of transfers during the transit period;
To provide comfortable regime and to minimize operating risks during the period of mass transfers of assets from custodians’ accounts to NSD, the company allowed using “bridges” in the weekends (on 2, 10 and 16 March). Transfers of securities using SSS have been made on the basis of reduced tariffs established after consultations with custodians which also reduced their tariffs for respective services;
Use of SSS was suspended on 18 March, as, according to the CSD law, NSD clients cannot use SSS after opening an account with the national central securities depository;
In accordance with the approved road map, the mass re-qualification of nominee accounts as CSD nominee accounts in registers was conducted on 26-29 March. Prior to this, NSD and regulators had been discussing with the regulations on interactions related to CSD accounts; NSD had been working on getting the regulations approved by PARTAD, a self-regulating organization, and developing the new software jointly with 40 registrars;
In 1Q 2013, the value of assets on deposit with NSD increased from RUB12 trillion to RUB17.3 trillion; the value of shares on deposit doubled against the value of shares on deposit with NSD and DCC as of the beginning of 2013.