mssect564mssect mssect238mssect mssect43mssect

Derivatives market


1. Posting Collateral

1.1. Account details for posting Collateral:

NCC accounts details in RUB with NSD:

Beneficiary bank: NCI JSC NSD

RCBIC: 044525505

Correspondent account number: 30105810345250000505

Beneficiary: CCP NCC

Beneficiary account number: 30414810000000000911

Tax reference number: 7750004023

Purpose of payment: Transferring collateral under the agreement DKU/XXXXX/XX dated DD.ММ.YYYY. Code of the clearing register section RRRRRRR. VAT free.

where:
DKU/XXXXX/XX is a number of the Clearing Membership Agreement;
DD.ММ.YYYY is the day, month and the year of Clearing Membership Agreement conclusion;
RRRRRRR is the code of the clearing register section, upon which funds shall be credited.

 

NCC accounts details in RUB with the Central Bank of Russia:

Beneficiary bank: Operation Department of the Bank of Russia, Moscow

RCBIC: 044501002

Correspondent account number: 00000000000000000000

Beneficiary: CCP NCC

Beneficiary account number: 30414810700000000001

Tax reference number: 7750004023

Purpose of payment: Transferring collateral under the agreement DKU/XXXXX/XX dated DD.ММ.YYYY. Code of the clearing register section RRRRRRR. VAT free.

where:
DKU/XXXXX/XX is a number of the Clearing Membership Agreement;
DD.ММ.YYYY is the day, month and the year of Clearing Membership Agreement conclusion;
RRRRRRR is the code of the clearing register section, upon which funds shall be credited.

 

NCC accounts details in FX with NSD

NCC accounts details in Fx with foreign settlement banks

Acceptance of securities as collateral on Derivatives Market

Default Fund on Derivatives market

 

1.2. Status of the Collateral in foreign currency

In accordance with the Russian Federation legislation and the Clearing Rules a status of the Collateral in foreign currency is determined by the accounts, designed for posting collateral:

·         Collateral in FX, which is called as ‘individual clearing collateral’ (ICC), is posted to the NCC clearing banking accounts, opened with NSD.

In such case according to the Central Bank of Russia Accounting Regulations NCC opens in its internal recording system the balance accounts №30420 for a Clearing Member in order to record ICC.   

·         Collateral in FX, which is called as ‘other collateral’ is posted to the correspondent accounts of the NCC, opened with foreign correspondent banks.

In such case according to the Central Bank of Russia Accounting Regulations NCC opens in its internal recording system the balance accounts №47405 for a Clearing Member in order to record the other collateral.

By default, Clearing Members of the Derivatives market post Collateral in USD and EUR onto the NCC accounts with NSD but for more Clearing Members’ convenience, the NCC correspondent accounts with foreign settlement banks also could be used.  

In order to get this opportunity a Clearing Member is obliged to provide the NCC with the Application for changing the status of collateral in FX on the Derivatives market. Basing on this, NCC opens for Clearing Member the balance accounts 47405 instead of 30420, transfers Clearing Member’s funds in FX from 30420 accounts to 47405. And finally closes 30420 accounts.

Please pay attention:

·         after the abovementioned application has been provided to the NCC, a Clearing Member (and/or its clients) is to post Collateral in USD and EUR onto the relevant NCC correspondent accounts with foreign settlement banks and shall not use NCC accounts with NSD for these purposes.

·         changing status of Collateral is executed automatically and simultaneously through all Settlement Accounts of a Clearing Member on the Derivatives Market, including proprietary, client and trust accounts.

·         change of the Collateral status in reverse from the ‘other collateral’ to the ICC is impossible.

2. Collateral return and transfer

Collateral return is executed through the following means of communication:

·         using Web-clearing service;

·         via NCC EDI sub-system – as txt format documents formed according to Documents forms and formats, provided by Clearing Members to the NCC;

·         via S.W.I.F.T. system.

The return of funds is also available to the Clearing Member’s clients account.

3. Segregated Client. Segregated Sub-accounts Cluster technology

List of Authorized Accounts Owners