Raiffeisen Bank International Opens Foreign Nominee Securities Account with NSD

Raiffeisen Bank International Opens Foreign Nominee Securities Account with NSD
17.06.2019 11:46 am

Raiffeisen Bank International Opens Foreign Nominee Securities Account with NSD

Banking

National Settlement Depository (NSD), Russian central securities depository, continues to develop services integrated into the global financial system. Raiffeisen Bank International (Vienna) has become the first foreign custodian bank to establish a direct link with the Russian securities market by opening a foreign nominee securities account directly with the Russian CSD. Due to this, the bank can provide its clients with access to a wide range of Russian financial instruments and NSD services.

The changes in Russian laws regulating the securities market which established the universal terms of international financial infrastructure participants’ access to the Russian market made it possible to establish the cooperation. Previously, only international and other countries’ CSDs had been allowed to open foreign nominee securities accounts with the Russian CSD. Foreign banks and custodians had been seeking other ways to use the services. Expanding the options for foreign investors’ access to the Russian securities market makes it more attractive and convenient.

“Establishing a direct link with the Russian central securities depository will expand the range of market access options which we provide our clients with and will contribute to the inflow of capital to the Russian securities market,” said Attila Szalay Berzeviczy, Executive Director Head of Group Securities Services, Raiffeisen Bank International.

"An opportunity for foreign companies to open foreign nominee accounts with NSD means diversification of channels through which foreign investors can access the Russian market. We believe that such a model will add value to clients of Raiffeisen Bank International who are interested in making transactions in the Russian market", said Eddie Astanin, Chairman of NSD's Executive Board.

Related News

RBI publishes second edition of CEE Fintech Atlas

Today, Raiffeisen Bank International (RBI) is launching the second edition of its CEE Fintech Atlas. It provides a profound overview of 19 fintech ecosystems... Read more »

Robocash Group runs pre-IPO round to launch its Philippine neobank

Getting prepared for an initial public offering (IPO) on the Australian Stock Exchange (ASX) in December 2020, Singapore-headquartered ... Read more »

Cognitive Credit and IHS Markit enter strategic alliance to collaborate on global credit data services

Cognitive Credit, the UK-based credit analytics software company, is pleased to announce a new alliance that brings best-in-class credit market data from IHS Markit to the... Read more »

Sopra Banking Software signs strategic partnership with Tink

Sopra Banking Software (SBS), a global leader in digital banking and financing software, announces a strategic channel partnership with Tink, Europe’s leading open... Read more »

iProov to provide biometric technology to challenger bank Knab, part of AEGON

Today, iProov is proud to announce that its technology is to be deployed by Dutch challenger bank Knab, to provide an effortless online biometric experience to its nearly 500,... Read more »

FintechOS named the hottest FinTech Startup in Europe

FintechOS, the global provider of technology for the digital transformation of banks, insurance companies and other financial services organisations, is this year’s hottest... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel