Clearing Members can withdraw cash funds, recorded as Collateral, to their own accounts or to accounts of their clients.
In order to do so the Clearing Members must prior register details of such accounts as details of the Account for collateral return with the NCC according to the Clearing Rules.
For registration of the Account for collateral return details, Clearing Members forward a request to the NCC via the Clearing terminal or via EDI (PAYPROPRQ message). Request format is defined in the paragraph 4.1 of the Documents and reports forms and formats. Part I. Common Part (available in Russian only).
Request is forwarded to the NCC via:
In the Clearing Terminal menu ‘Directories’ select ‘Requisites for collateral return’.
Click the ‘Add details’ button in the ‘Requisites for collateral return’ window to add the requisites
The Directory ‘Requisites for collateral return’ is located in the menu – Directories – Requisites for collateral return. It is used for registering, editing and deleting details for returning collateral of Clearing Member.
In the request form for registration of a ruble account details for collateral return, fill in the following fields:
- Currency
- Name
- BIC
- Name
- Correspondent Account
- Receiver name
- IТN
- Personal account
- purpose of payment (a variable text with additional information for the standard payment purpose specified for the currency of the requisites in the NCC Accounting System)
In the form for entering a request to register account details for a refund in currency other than RUB, the required fields are:
- Currency
- Name
- Beneficiary
- purpose of payment (a variable text with additional information for the standard payment purpose specified for the currency of the requisites in the NCC Accounting System)
After filling in the form, click the ‘Sign and Submit’ button.
The processing/execution status of the Request for registration of details for collateral return is displayed in the Documents Menu – Submitted Documents. Possible statuses: ‘Approved’ / ‘Under approval’ / ‘Suspended’ / ‘Execution error’ (with a description of the reason for refusal)
Deadlines for registering a new Account for collateral return:
- Account for return in the Russian rubles of the Clearing Member - no later than the next day after receipt of the relevant application
- Registration of an Account for a collateral return of a client of the Clearing Member or an Account for collateral return in foreign currency requires additional control and may take more than one day.
- A user with the role ‘Operator’ (TellerReq) has only the right to initiate a Request for collateral return (without the right to sign)
- Users with the roles ‘Cash Transactions’ (MoneyReq, and All Operations ‘AllReq’ can create and sign Requests for collateral return
- A user with the role ‘Clearing Operations ‘ClearingReq’ cannot create, sign or view the sent Requests for collateral return
A request generated in accordance with the required format, encrypted and signed with an electronic signature, can be sent via EDI to the NCC.
- To sign and encrypt the request use the Validata CSP software in and the Directory of Certificates of the MICEX Client SHC (Software-Hardware Complex). In the SHC the Client needs a valid key with the scope of ‘EDI NCC’. The public key of NCC Bank (JSC) must be added to the Client's SHC. The specified certificate is posted on the Certificates page in the sections ‘Clearing on the stock market’, ‘Clearing on the foreign exchange market’.
- Send the signed and encrypted .txt.p7a file to frnkc@ex.micex.ru via the web interface of the mailbox https://mars.micex.ru by selecting the Create menu item, or using an email client based on the imap/smtp protocols. The subject of the letter can be arbitrary.
If the request can be accepted for execution, the NCC sends a message (receipt) to confirm that the request has been accepted and will be processed in accordance with the regulations. Otherwise, the NCC sends a receipt containing a message that the key does not have a scope of validity of the NCC, or it is impossible to select the file's electronic signature or decrypt the file, or there are errors in the message header.
A request accepted for processing can be processed successfully or unsuccessfully. Error codes sent by the NCC in case of unsuccessful processing of the request are given in the ‘Message Codes’ section.
Error codes sent by the NCC in case of unsuccessful processing of the request are given in the ‘Message Codes’ section.
Specifics of the Account for collateral return registration
1. List of accounts for collateral return
List of registered Accounts for Collateral return by that moment can be received by forwarding Request for Settlement Accounts report, CODEINFORQ, to the NCC via EDI. The NCC, responding to such request, forwards to the Clearing Member the Report on Settlement Accounts and details of the Account for Collateral return - CCX98.
2. Changing several account details
In case if details of the account, registered with the NCC earlier as Account for collateral return, are changed partially (for example, Clearing Member name, ITN, BIC, correspondent account number or banking department change), Clearing Member shall provide Request PAYPROPRQ to the NCC via EDI, which contains information on new account details.
If there is a great number of Accounts for Collateral return, registered with NCC on the Securities market, details of which shall be changed, Clearing Member can provide the Application for changing details of the Account for Collateral return.
3. Registration of the Account for Collateral Return for the client of the Clearing Member
In case if collateral is returned to accounts of the Clearing Member clients, Clearing Member shall provide the Clearing House with the following in accordance with the Clearing Rules:
Client identification letter (if the Clearing Member must identify clients);
copies of the service agreement / service provision / commission agreement / agency agreement, concluded between the Client and the Clearing Member, notarized or certified by the Clearing Member;
other document (upon demand of the NCC).
In case if the abovementioned documents are provided for several markets, Client Identification Letter is provided in one copy only, while all agreements / contracts are provided depending on the number of such agreements / contracts.
4. Time periods for registration of new Account for Collateral return:
Account for Collateral Return in Russian rubles, owned by the Clearing Member - not later than the day following the day when relevant application has been received;
Registration of the Account for Collateral Return, owned by the client of the Clearing Member, or of the Account for Collateral return in foreign currency may require additional control and may take more than one day;
The NCC returns cash funds not later than the workday following the day when account for collateral return has been registered.
5. Opportunity to register Account for collateral return in foreign currency
| to account of the Clearing Member | to accounts of the Clearing Member client's | ||||
|---|---|---|---|---|---|
| resident CM | non-resident CM | resident client | non-resident client | ||
| credit institution | non-credit institution | ||||
| Withdrawal to the bank within RF territory | Yes | Yes | Yes | Yes | Yes |
| Withdrawal to the bank outside RF territory | Yes | No | Yes | No - for non-credit institutions | Yes |