Support The Moscow Times!

Depositary Bill Redrafted

The working group led by Alexander Voloshin on creation of an international financial center in Russia has drafted a bill on the main principles of operation of a central depositary.

A draft bill on the central depositary was first drawn up in May 2007.

One problem was that both the MICEX and RTS exchanges wanted to form their own, rival central depositaries. Now that the two exchanges are merging, their two depositaries — National Settlement Depositary, or NRD, and Depositary Clearing Company — will also merge.

The bill addresses interactions between the central depositary and the registrar. The central depositary will reconcile every operation on a real-time basis, or once a day if there is no activity. The goal is to eliminate discrepancies between the registrar's records and the depositary's accounts.

(Interfax)

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more