Wednesday June 5 2024
News Source: Global Exchanges
Focus: Clearing & Settlement
Type: General
Country: Russia
On 3rd June 2024, the National Settlement Depository (NSD) announced that pursuant to the decision of NSD’s Executive Board dated 23rd May 2024, from 01st June 2024 to 31st December 2024 (inclusive), a marketing period will be introduced during which no fees will be charged for services related to the transfer of securities of Russian and/or foreign issuers (Clause 15.1 and Clause 4.1 of the NSD’s Depository Services Tariffs) with transfer of title as a result of transactions where one party is a Russian resident and the other party is a Russian resident, friendly non-resident or Controlled Foreign Company (CFC).
- The marketing period is valid provided that transactions made under this clause comply with the requirements of the legislation of the Russian Federation, regulations of the Bank of Russia and decisions of the Board of Directors of the Bank of Russia, and official explanations of the Bank of Russia.
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