Transactions with securities
Novikombank runs a custody business combining it with broker and dealer activities in the securities market, and renders the Depositors all the principal services on custody account maintenance and title to securities record.
The licence to perform custody operations No. 177-06450-000100 dated 25.02.2003 has been issued by the Federal Commission on Securities of the Russian Federation for an indefinite term.
Now the Depositary of Novikombank has nominal holder accounts in the leading Russian depositories: ‘The National Depository Centre’ (Closed Joint Stock Company), Vnesheconombank, Closed Joint-stock Company Depository Clearing Company.
The objects of Depository activity are documentary and uncertificated securities, equity and non-equity securities, securities issued by Russian Federation residents and non-residents, if they do not contradict the requirements of the current laws of the Russian Federation.
Novikombank’s Depository provides a full range of custody services to legal entities and individuals, including:
- opening and management of the clients' depo accounts for the custody and/or record of title to securities;
- accounting and certifying of ownership rights for securities on depo accounts, including securities issued by non-residents (eurobonds, ADR/GDR);
- recording and certification of title transfer to securities;
- settlement of security deals on DFP/RFP (delivery-free-of-payment/receipt-free-of-payment) and DVP/RVP (delivery-versus-payment/receipt-versus-payment) basis;
- payment of dividends/interest on securities on depo accounts;
- registration of securities encumbrance (freezing/reserving securities on clients' depo accounts;
- presenting of securities for redemption or acceptance;
- consulting and other operations regarding transactions with securities.
