Clearstream will launch its direct settlement link to the Russian market following the opening of a main account at the National Settlement Depository (NSD), the new Russian CSD, in February 2013.
The new direct link to the Russian CSD opens up access to the Russian capital markets. Clearstream will offer multi-channel access to the new Russian CSD via both its central securities depository (CSD) and its international central securities depository (ICSD).
Through its local agent Deutsche Bank in Moscow, Clearstream has already been providing a suite of settlement services in Russia since 2006. These services have included settlement in OFZ government bonds, since January 2012.
Other services have included rouble clearing capability to support new issues in the international market and domestic rouble payments in line with local requirements and practices.
Mark Gem, head of business management and member of the executive board of Clearstream, said: “The opening of the new Russian CSD was a major landmark in the development of Russia’s capital markets. With our direct link to Russia, the market is reaching its next stage of evolution for the international investor community."
"Clearstream is delighted to confirm its direct link to the Russian CSD and will offer a superior service at a competitive price whilst covering a broad range of securities like OFZ bonds and other securities for the international investor community. Our link will help open the Russian capital markets up more readily to overseas investors and traders by allowing securities’ transactions to be settled more efficiently – in Russian roubles – and more securely within a single system.”
Eddie Astanin, chief executive officer of Russia’s National Settlement Depository said that 2013 opens a new page in Russia's movement towards full scale integration into the global financial system.
“Less than a year ago the law on central securities depository was adopted, and now we see that such institutions as Clearstream recognize the effectiveness of our efforts and correctness of our strategy. This event opens new opportunities for international investors in Russia, and in future it will be able to change Russian issuers' positions in the global capital market.”
