National Settlement Depository (Russia)

The National Settlement Depository (NSD) – is a Russian non-bank financial institution, central securities depository, and professional securities market participant engaged in depository business. NSD is a member of the Moscow Exchange Group and provides depository, settlement (bank account), and related services to financial market players. NSD is the central securities depository (CSD) of the Russian Federation, whose services cover both securities listed in Russian Federal Law No. 414-FZ dated 7 December 2011 "On the Central Securities Depository", and other Russian and foreign equity and debt securities. NSD was assigned the CSD status by the Russian Federal Financial Markets Service by Order No. 12-2761/pz-i dated 6 November 2012. NSD is the largest securities depository in Russia by market value of equity and debt securities held in custody. NSD is headquartered in Moscow.

On 27 June 1996, MICEX Settlement House was incorporated, which was a credit organization that provided settlement (bank account) services, including cash settlement services for trades in the financial market. MICEX Settlement House's primary business was to provide settlement services in the stock exchange markets operated by the MICEX Group.

National Depository Center (NDC) was incorporated on 21 January 1997. NDC was established to serve as the principal securities depository in the government securities market, and started acting in such capacity late in March 1998. The same year, NDC started providing services for corporate, sub-federal, and municipal securities. NDC gained the leading position in the Russian debt securities market, and then started dynamically growing the scope of transactions with shares, investment units, and Eurobonds. As a result, NDC became the largest Russian settlement depository by value of assets in custody, and the only Russian settlement depository that covered all types of Russian equity and debt securities.

On 3 November 2010, an entry was made in the Unified State Register of Legal Entities concerning the reorganization of MICEX Settlement House through merger with NDC, which resulted in the establishment of National Settlement Depository (NSD), a unique organization for Russia.

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