The Russian CSD, National Settlement Depository (NSD), announced that the revised Fee Schedule for NSD’s depository services applied to owner accounts, nominee accounts, trustee accounts and foreign nominee accounts will enter into force on 1 January 2016.
The main changes relate to the following fees for depository services:
a) Safekeeping fees. New approaches for calculation of the monthly safekeeping fees:
- the securities portfolio value will be calculated as the sum of the balances of all securities issues held on all accounts belonging to AO UniCredit Bank;
- the scale for safekeeping fees rates will be substantially extended;
- the preferential safekeeping fee applied to long-term safekeeping sub-accounts will be revoked;
- the safekeeping fee for securities without market value will be not less than RUB 3,000 and not more than RUB 15,000 per all AO UniCredit Bank’s accounts.
b) Transaction fees. The fees for free of payment transactions depend on the number
of transactions within the same securities account:
- used for all types of securities accounts, with a scale from RUB 65 to RUB 80 per transaction, instead of the previous fixed RUB 75 RUB;
- the preferential fee for crediting of securities to long-term safekeeping sub-accounts is revoked
c) Corporate actions fees. New services related to corporate actions are added:
- fee for participation in general meetings - RUB 135;
- fee for participation in other types of corporate actions events - RUB 550.
The revised fee schedule is available on the website of NSD at the following link:
http://www.nsd.ru/en/fees/general/
Impact on investors: Investors will pay for the services of NSD based on a revised fee schedule starting from 1 February 2016.