The National Depository Center of Russia will provide greater opportunities for its clients in the international capital markets with an account at Euroclear Bank.
Qualified members of NDC will be able to settle transactions and safekeep international securities via NDC’s account with immediate effect. NDC and Euroclear SA/NV signed a Memorandum of Understanding in April for information sharing and potential future cooperative initiatives.
With this new arrangement, NDC is 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, says, “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 cooperation with Euroclear is another example of how Russia is changing, and integrating with global markets.”
Frederic Hannequart, executive director and chairman of Euroclear Bank, says, “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.”