NSD’s new system for shareholder meetings will simplify interactions between market participants. By Ekaterina Konovalova, Relationship Manager Russia
National Settlement Depository (NSD), Russia’s Central Securities Depository, launched a new system for organising shareholder meetings including notification about shareholder meetings and e-proxy voting.
The new system based on the best international standards will enable the exchange of structured standardised electronic messages by NSD with issuers, registrars and depositors and provide the opportunity to use straight through processing (STP) of information at all stages of document circulation.
New interaction formats have been worked out in accordance with ISO 20022 which will allow NSD to receive structured information about convened shareholder meetings and documents related to the meetings’ agenda items and results from issuers; it will be used for e-proxy voting as well. Additionally, the NSD’s depositors using SWIFT will be able to interact on the basis of ISO 15022.