NSD tests corporate action technology

National Settlement Depository (NSD), Russia’s central securities depository, has carried out testing of information and files exchange during a shareholder-requested purchase (buy-out) of company shares (BIDS).

Test participants included NSD depositors (VTB Bank, Credit Swiss, Sberbank, ROSBANK, UniCredit Bank, Aton, SEB Bank), registrars (SR-DRAGA) and Eldis-Soft, a registrar software developer.

The NSD says it plans to continue testing other corporate actions in anticipation of the changes arising from corporate actions reform from the start of July. The schedule of all tests is described in detail in the Corporate Actions Reform Roadmap.