National Clearing Centre has completed its activities in relation to the opening of correspondent accounts with foreign banks: JPMorgan Chase Bank, New York, USA; The Bank of New York, New York, USA; JPMorgan AG, Frankfurt am Main, Germany; Deutsche Bank, Frankfurt am Main, Germany; Bank TuranAlem, Almaty, Republic of Kazakhstan; Belvnesheconombank, Minsk, Republic of Belarus; PrivatBank, Dnipropetrovsk, Ukraine.
These credit institutions are designated as Settlement Banks in accordance with the National Clearing Centre Clearing Rules for Unified Trading Session of interbank currency exchanges.
Accounts opened with the foreign banks will enable participants of clearing to make settlements with each other in the currency market in US dollars, euros, Belarusian rubles, hryvnia and tenge.
The established correspondent relations and the opening of accounts with the foreign banks are an important step toward the provision by National Clearing Centre of clearing services to MICEX currency market participants.
For reference:
National Clearing Centre (NCC) was established on October 24, 2005, with the authorized capital of 235 million rubles and the stated capital of 1.5 billion rubles. NCC’s founders are Moscow Interbank Currency Exchange and The National Depository Center (Not-for-Profit Partnership). NCC holds the Bank of Russia’s license to conduct banking operations in Russian rubles and foreign currency (without the right to take retail deposits). NCC will specialize in clearing in exchange-based and OTC markets, which includes determining and calculating the obligations of participants of clearing, offsetting these obligations and organizing the performance of obligations under transactions in accordance with the Russian laws. Telephone: +7 916 2949139 NCC Press Office
