| Developers: | National Settlement Depository (NPO NSD JSC) Non-banking credit institution |
| Date of the premiere of the system: | August 2023 |
| Branches: | Financial Services, Investments and Auditing |
2023: Product Announcement
At the end of August 2023, the National Settlement Depository (NSD, part of the Moscow Exchange Group) announced the pilot launch[1] Fast[2] fast securities transfers by analogy with the Fast Payment System (FPS) from the Bank of Russia.
As explained in NSD, the new service is designed to facilitate the transfer of securities between brokers. It does not replace the standard interpositor transfer, but fully automates the process of filling out drafts of orders for the transfer of securities between the depositories of the source and receiver broker, the organization noted.
 | We are building a system of rapid transfer of securities by analogy with the system of rapid transfer of money, to which everyone is accustomed. If you are a client of some broker, it is extremely difficult to transfer assets to another broker: counter orders, documents for taxes, etc. We suggested that the market integrate a function into broker applications that will allow you to transfer securities to another broker in one or more clicks. Technically, we have already implemented this and are starting to test with a number of brokers, - Viktor Zhidkov, Chairman of the Board of NSD, told reporters. |  |
According to him, NSD has already attracted six market participants to test. Zhidkov stressed that to launch this product, changes will be needed to the Tax Code and the FZ-39 "On the Securities Market." In addition to transferring the paper from one broker to another, it is necessary to transfer information about its value in order for the correct accounting of taxes to take place, the head of NSD explained.
The system will operate in test mode until the end of 2024. According to Kommersant, five players will take part in the testing: Aton, Alfa-Bank, Sberbank, BCS and MKB.
Transfers will be available for all types of securities. To transfer, the investor will have to:
- select a broker to whom the securities will be transferred;
- select the securities to be transferred;
- confirm the transfer in the broker's application to which the securities are transferred.[3]
Notes
- ↑ [https://www.nsd.ru/services/novye-servisy/servis-bystrogo-perevoda-tsennykh-bumag/?tab=tab_1 of the# 2-widget-faq-0-0
- ↑ Securities Transfer Service for]
- ↑ Securities will be sent by translation
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