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National Settlement Depositary Granted Central Depositary Status

06.11.2012 16:45 / «Kommersant-Online»

On November 6, Federal Financial Markets Service (FFMS) granted central depositary status to ZAO National Settlement Depositary (NRD, 99% owned by Moscow Exchange Group), according to FFMS.

In late October 2011, the Ministry of Justice registered all FFMS documents required for central depositary accreditation. FFMS release states that granting the status to NRD marks the final step in establishing a central depositary in the Russian financial market. “The central depositary will allow to register title to securities in accordance with international standards and significantly lower risks for market participants. The system of registering title to securities will become more transparent and clear to the general public and investors”, says the release.

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