Russia will create its own central depositary by April after the merger of the country's two main bourses last month, Economy Development Minister Elvira Nabiullina said at a government meeting Tuesday.
The National Depositary Center, which settles trades on the MICEX exchange, and the Depositary Clearing Company, which represents the smaller RTS, will be combined to help improve settlement and clearing procedures for investors.
The move is part of the bid to turn Moscow into an international financial hub.
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
