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Russia advances in post-trade services
22 January 2014
Recent law changes enable launch of post trade offering for corporate and municipal bonds
The Russian market is set to benefit from the launch of
cross-border post-trade services for Russian corporate and
The launch – carried out by international central
securities depository (ICSD) Euroclear and
Russia’s CSD National Settlement Depository, has
been made possible by recent amendments to Russian law.
Sweeping changes were made to the Tax Code, and the laws on
securities market and joint stock companies.
"We endeavour to attract investors, to make our market more
transparent and to raise interest to Russian securities," said
the minister of finance of the Russian Federation Anton
He added: "I am confident that this is an important step
towards establishing an International Financial Centre in
Moscow that aims at providing better accessibility and lower
cost of long-term financing for Russian companies."
Eddie Astanin, chairman of the NSD’s executive
board, agreed that improvement in post trade services and
regulation would stimulate investor interest in Russian
The NSD’s partnership with Euroclear builds on
their offering for Russian government bonds introduced last
The new link enables all Euroclear’s clients that
invest in corporate and municipal debt to settle those trades
and deposit their positions through Euroclear’s
account with the NSD. The service goes live on January 30.
Municipal bonds and corporate bonds issued in 2012 and later
The Russian market has been making clear strategies to become
more accessible to foreign investors. Last year the
Russian Central Bank was appointed the country's mega-regulator
for its financial markets.