OREANDA-NEWS. National Settlement Depository (NSD), Russia’s central securities depository, and Belarusian Republican Unitary Enterprise "Republican Central Securities Depository" (RCSD) have signed the Memorandum of Cooperation and the CSD foreign nominee account agreement.

The depositories plan to expand the bilateral cooperation and to establish close business relations related to exchange of information regarding procedures of functioning of clearing, record keeping and settlement systems of Russia and Belarus. The parties also intend to cooperate in the sphere of record keeping of Belarusian issuers’ securities in NSD’s correspondent account (foreign nominee account) opened with RCSD and Russian issuers’ securities in RCSD’s account opened with NSD, to conduct trainings and exchange experience, to consult on information storage and processing issues, and tackle other issues related to the depositories’ cooperation.

The depositories have also signed the foreign nominee account agreement; based on this document, RCSD’s clients may conduct settlements on transactions and keep securities using RCSD’s account with Russia’s central securities depository.

NSD has already opened the account with RCSD. The bilateral interactions channel between two depositories will allow to hold cross-border operations in more efficient way.