The National Depository Center Of Russia Provides Access To Euroclear Bank

The National Depository Center (NDC) of Russia will provide greater opportunities for its clients in the international capital markets. Qualified members of NDC will be able to settle transactions and safekeep international securities via NDC’s account with Euroclear Bank with immediate effect. NDC and Euroclear SA/NV signed a Memorandum of Understanding (MoU) in April for information sharing and potential future co-operative initiatives.

With this new arrangement, NDC is increasing its service offering by facilitating access to a wide range of international securities, such as Russian-issued eurobonds, sovereign and corporate bonds from over 30 international markets, and equities from over 25 markets. Euroclear Bank has been settling transactions in the Russian ruble since February.

Nikolay Egorov, Chief Executive of the NDC, said: “Our choice of opening a direct account with Euroclear Bank enables us to provide our clients with a full range of depository services in accordance with international standards. Our co-operation with Euroclear is another example of how Russia is changing, and integrating with global markets.”

Frederic Hannequart, Executive Director and Chairman of Euroclear Bank, said: “After the initial MoU, both organisations have worked closely to make this new development possible. As the Russian capital market’s infrastructure evolves, we remain open to working with all segments of the market in responding to their needs.”