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NSD and Egypt’s CSD Sign Memorandum of Understanding
National Settlement Depository (NSD), Russia’s central securities depository, and Misr for Central Clearing, Depository and Registry (MCDR), Egypt’s central securities depository, have signed a memorandum of understanding at the Moscow Exchange Forum. The CSDs agreed to develop their cooperation in order to provide investors with the access to the markets of both countries, to exchange information and experience in the sphere of depository and settlement operations and interactions via correspondent accounts, corporate actions processing and information services. In addition, the parties agreed to cooperate within the framework of the World Forum of CSDs. Misr for Central Clearing, Depository and Registry was founded in 1994 and commenced operations in 1996. MCDR shares are distributed among participants of the Egyptian market: custodians own 50% stake, 45% of shares are owned by brokerage companies, and 5% stake belongs to the Egyptian Exchange (EGX). MCDR is the sole organization authorized to conduct clearing and settlement operations with all types of securities traded on the Egyptian Exchange. MCDR is headquartered in Cairo. About NSD National Settlement Depository (NSD) is the central securities depository* of the Russian Federation, a part of the Moscow Exchange Group. NSD was founded on 27 June 1996. On 31 March 2016, the value of securities under custody amounted to RUB 31.7 trillion. The Bank of Russia recognized NSD the systemically important central securities depository, settlement depository and repository. The NSD payment system has a status of the systemically and nationally important system. NSD offers a wide range of services to its clients including settlement and depository services, registration of the OTC transactions (repository services), information services and collateral management services. As Russia's national numbering agency and the substitute numbering agency for the CIS, NSD is authorized to assign the international ISIN and CFI codes. NSD acts as a Local Operating Unit (LOU) allowing to assign Legal Entity Identifiers (LEIs) to the company’s clients. The Bank of Russia has assigned to NSD a status of an operator of NSD Payment System (registered name). NSD conducts all exchange settlements and a major part of OTC settlements, services Russian and foreign securities as central securities depository. Currently, NSD has accounts with central securities depositories and international central securities depositories of eight countries, as well as correspondent accounts with major foreign and Russian banks. NSD services securities issued by the companies representing more than 40 countries. The international rating agency Thomas Murray has assigned NSD an AA- rating as a central securities depository. For additional information about NSD please visit