Support The Moscow Times!

Central Depositary Coming

Russia will create its own central depositary by April after the merger of the country's two main bourses last month, Economy Development Minister Elvira Nabiullina said at a government meeting Tuesday.

The National Depositary Center, which settles trades on the MICEX exchange, and the Depositary Clearing Company, which represents the smaller RTS, will be combined to help improve settlement and clearing procedures for investors.

The move is part of the bid to turn Moscow into an international financial hub.

(Bloomberg)

Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.