OREANDA-NEWS.  National Settlement Depository (NSD), Russia’s central securities depository, reports that since 6 February, after publication of its intention to maintain a register of contracts at the web site of Russia’s Federal Financial Markets Service (FFMS), it begins functioning as a repository and maintaining the register of contracts concluded on the basis of the general agreement (integrated agreement), repo and currency swap contracts.

NSD’s Executive Board has established a promotional period until 31 March; during this period, the repository’s monthly commission per one client will be limited (it should not exceed RUB100,000). Moreover, in accordance with the current tariffs, the clients will not pay for servicing their quarterly reports on transactions with less than 4 days completion period (excluding repos).

NSD’s Committee of Users of Repository Services (the participants of derivative market) works on formation of the efficient tariff model for the repository. If the development of the tariff model takes more time than expected, NSD’s Executive Board will consider an issue of extending the promotional period.

To conclude the Agreement on repository services, the clients should submit the documents included in the following List (in Russian). The model Agreement and the Terms of provision of repository services are available at NSD’s web site (in Russian).

More information about issues connected with conclusion of the Agreement on repository services is available in the Department of Conclusion and Maintenance of Agreements (tel. +7 495 956 2789). Other questions related to repository services should be sent to Yekaterina Vysokikh (Vysokikh@nsd.ru, tel. +7 495 234 9960) or to account managers or regional representatives of NSD.