National Clearing Center, AKB NPO NCC (JSC)
Russia
Central Federal District of the Russian Federation
Moscow
125009, Bolshaya Kislovsky Lane, house 13
Owners:
Moscow Exchange (MICEX-RTS)
Owners
Since December 2007, NFC has been clearing the MICEX currency market and since November 2011, the Group's stock market. NFC is one of the most significant infrastructure organizations of the financial market, acting as the central counterparty for all markets served by the Moscow Exchange group. The Bank assumes risks in the transactions concluded by the participants during the exchange trading, acting as an intermediary between the parties: the seller for each buyer and the buyer for each seller, who replace their contractual relations with each other with the corresponding contractual obligations with the central counterparty. NFC is a member of the European Association of Clearing Houses - Central Counterparties (EACH) and the World Association of Central Counterparties - CCP12.
History
2021: Court rejects 140 traders' claim for losses due to negative oil prices
In September 2021, the court rejected a class action lawsuit against the National Clearing Center (Mosbirzha), filed by about 140 players on the exchange affected by negative oil prices
The plaintiffs asked to declare illegal the execution of the futures at a negative price in April 2020, when for the first time in history, oil prices fell to negative values (minus $37.63 per barrel).
According to the plaintiffs, the NFC misled them. In particular, based on the documents of the exchange and NFCs, they believed that the minimum possible contract price is $0.01, and a negative price is impossible. Traders asked to return money to their brokerage accounts - about 280 million rubles.
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