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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 department.
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 plans.
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 issuers'
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.