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NSD makes hire and approves fee changes
17 February 2014
Russian CSD appoints director of IT support department
The Russia’s central securities depository,
National Settlement Depository (NSD), has made a new hire and
approved changes to some of its services.
Andrei Malakhov joins as director of the IT support department
to take charge of developing the IT unit’s
operating model using the process approach to IT services
provided to the internal and external customers. He most
recently led BNP Paribas’ Moscow-based IT systems
The NSD’s supervisory board has approved the
company’s IT strategy over the next two years
aimed at supporting and implementing its mid-term business
The board also gave the go-ahead for changes to fees for
depositary services, and fees for CSD services.
The changes include reducing the fee for safekeeping of Gazprom
shares to fees that currently apply to other Russian
The fee for long-term safekeeping sub-accounts for Gazprom
shares will be incorporated into the minimal monthly fee for
depositary services. That fee is charged separately at the
The changes now await approval by the Bank of
Russia’s Financial Markets Service.