Deutsche Bank Trust Company Americas is now connected to Russia’s National Settlement Depository (NSD) as a US dollar cash settlement bank for delivery versus payment (DVP).
The addition of Deutsche Bank Trust Company Americas to the settlement structure means clients of the NSD can conduct DVP transactions with the use of cash accounts, opened with either Citibank, New York, J.P. Morgan & Co New York, or Deutsche Bank Trust Company Americas.
The NSD also provides DVP settlement services in roubles and US dollars via cash accounts opened with the NSD.
Maria Ivanova, vice president of NSD, said: "Cooperation with Deutsche Bank Trust Company Americas shall facilitate settlement processes for our clients when making transactions with the Russian securities.”
“DVP settlement service is one of the key services offered by the NSD, with good dynamics. Effectively, in Q4 2013 the number of transactions conducted on DVP basis grew by 89 percent as compared with Q1 2013.”
Ekaterina Kalinina, director and head direct securities services at Deutsche Bank Russia, added: "The launch of the USD DVP settlement service strengthens Deutsche Bank’s position as a leading custodian servicing cross-border investors in Russia, opening a great opportunity for clients.”
NSD is a part of the Moscow Exchange Group and is the central securities depository of Russia.
