Clearstream has become the first International Central Security Depositary (ICSD) to accept the Russian Ruble.
The new move, which was implemented 1 January 2007, is in response to a growing demand by investment banks and issuers to issue Eurobonds denominated in Rubles.
“Clearstream is very pleased to be the first ICSD to make the Ruble eligible for securities settlements,” says Jeffrey Tessler, CEO of Clearstream. “It is the result of the close cooperation we have been able to establish with the Central Bank of Russia. We look forward to continue working with the Russian authorities and assist them in bringing the Russian capital markets to the highest possible standards of excellence.”