Russia's CSD Connects to Deutsche Bank for U.S. Dollar Settlement

Russia's National Settlement Depository (NSD) has finalized its connection to Deutsche Bank (DBTCA) as a U.S. dollar (USD) cash settlement bank.
By Jake Safane(2147484770)
Russia’s National Settlement Depository (NSD) has finalized its connection to Deutsche Bank (DBTCA) as a U.S. dollar (USD) cash settlement bank.

With the connection, clients of the NSD can now conduct delivery versus payment (DVP) transactions in U.S. dollars with the use of cash accounts opened with DBTCA. NSD also has connections to Citi

With the introduction of DBTCA to the settlement structure, the list of USD cash settlement banks has increased. The clients of the NSD may now conduct DVP transactions with the use of cash accounts opened either with Citibank New York and J.P. Morgan New York. The NSD also provides DVP settlement services in roubles and USD via cash accounts opened with the NSD directly.

“Cooperation with Deutsche Bank Trust Company Americas shall facilitate settlement processes for our clients when making transactions with the Russian securities,” says Maria Ivanova, vice president, business development and client relations, NSD. “DVP settlement service is one of the key services offered by the NSD, with good dynamics. Effectively, in Q4 2013 the number of transactions conducted on DVP basis grew by 89% as compared with Q1 2013.”

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