Economics

Russian National Settlement Depository and Central Depository of Armenia Sign CSD Foreign Nominee Account Agreement

National Settlement Depository (NSD), Russia’s central securities depository, and Central Depository of Armenia (CDA), have concluded the Central Securities Depository (CSD) foreign nominee account agreement.

Pursuant to the agreement, NSD will maintain records for securities held by clients of the foreign nominees, maintain CSD foreign nominee accounts, conduct operations on such accounts and render other services related to the execution of rights for securities.

NSD has already opened an account with CDA. The bilateral link between two depositories will allow to perform cross-border operations in a more efficient manner.

Currently NSD has accounts opened with the CSDs/ICSDs in eight countries, including six bilateral links with Euroclear Bank S.A./N.V., Clearstream Banking S.A., KACD (Republic of Kazakhstan), RCSD (Republic of Belarus), NDU (Ukraine), Central Depository of Armenia and two links opened by NSD with National Depository Centre (Azerbaijan) and CJSC Central Depository (Kyrgyzstan).

Besides nominee account with NSD, CDA also has accounts with KACD (Republic of Kazakhstan) and Clearstream Banking Luxemburg.

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