NSD release says, these procedures will receive a facelift as part of the corporate actions reform in the Russian financial market, designed to implement up-to-date technologies and international standards of e-communication.

The reform is aimed both at the statutory base and the technological solutions for corporate actions. The decision to abolish traditional paper format and switch to electronic communication allows market participants to cut risks and costs involved in corporate actions.

The initial step of the reform is changing GSM procedures. Since 2014, the law allows e-proxy-voting, which enables depositaries to generate e-voting documents in the interests of their clients with no need for proxy.

NSD in cooperation with securities market participants has already launched e-proxy-voting and GSM notifications in proprietary NSD formats. Currently, e-proxy-voting is being updated according to international standards: new notification formats and other GSM services will be offered to market participants.

NSD is actively developing the corporate actions data center, geared to boost Russia’s post-trading infrastructure competitive edge, putting the Russian market on par with the world and attracting both local and foreign investors.

Project Group №1