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NSD & ATON: a First Transaction in Mutual Funds through Euroclear Bank SA/NV’s FundSettle Platform

The account held by National Settlement Depository (NSD) with Euroclear Bank SA/NV has been, for the first time, credited with units of a foreign mutual fund managed by ATON, a Russian investment group, through the FundSettle Platform.

FundSettle is a global dedicated platform operated by Euroclear Bank SA/NV which provides all clients of Euroclear Bank SA/NV and transfer agents with a single access point to process cross-border fund transactions.

To start using the FundSettle service via NSD, a company needs to have a securities account / bank account with NSD and enter into individual supplemental agreements with NSD. The platform processes all types of cross-border fund transactions, including subscriptions, redemptions, transfers and switches.

Ksenia Vlasova, Head of Operations, ATON: “We are happy that NSD has backed ATON’s initiative to offer Russian investors an opportunity to invest in foreign mutual funds through its platform.  For us, as the oldest investment group in Russia, it is very important to contribute to the development of the market as a whole and provide benefits to both our clients and clients of other investment houses. Now, thanks to NSD’s service, they have an opportunity to hold all their securities with the same securities depository, thus cutting their operating costs and reducing various risks.”

Denis Buryakov, Managing Director for Depository Operations, NSD: “Launching services with respect to units of foreign mutual funds via Euroclear’s platform is yet another step taken by NSD towards integration with the global financial market. It will be easier for our clients to transact in those assets, and we will be able to offer them more services and a greater variety of foreign securities. Clients will be able to make transactions in foreign mutual funds using the infrastructure they know well, the way they are used to transact in Russian securities. We are positive that the advantages offered by NSD’s services and Euroclear’s FundSettle platform will cause a great interest to foreign funds among Russian investors.”

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