Depository
A professional market participant carrying out depositary activities is referred to as a depositary. A depositary conducting settlements on the results of transactions concluded during trading sessions organized by trading organizers in agreement with such trading organizers and (or) with clearing organizations conducting clearing of such transactions is referred to as a settlement depositary.
Source: Federal Law No. 39-FZ dated April 22, 1996 (as amended on July 28, 2012) "On the Securities Market"
A depositary is a legal entity carrying out registration of encumbrances on securities by way of pledge during credit operations conducted by the Central Bank of Russia.
Depositaries include:
(as amended by Instruction of the Central Bank of Russia dated November 25, 2011 No. 2734-U)
- a legal entity carrying out centralized storage of federal state securities denominated in rubles;
(as amended by Instruction of the Central Bank of Russia dated November 25, 2011 No. 2734-U)
- for the purposes of granting credits to the legal entity referred to in paragraph twenty-three of this item, which is a credit institution, by the Bank of Russia in accordance with this Regulation - a legal entity that has entered into a depositary agreement with the aforementioned legal entity, pursuant to which an owner's account has been opened for the latter, and has entered into an agreement with the Bank of Russia on cooperation in carrying out operations in accordance with this Regulation
Source: "Regulation on the Procedure for Granting Credits by the Bank of Russia to Credit Institutions, Secured by a Pledge (Blocking) of Securities" (approved by the Bank of Russia on 04.08.2003 No. 236-P) (as amended on 25.11.2011) (Registered with the Ministry of Justice of the Russian Federation on 29.08.2003 No. 5033)