A client wishing to make transactions with securities at the MICEX or on the OTC market should conclude a brokerage agreement and a depositary agreement with the Bank. To keep account of the money to be used in transactions involving the purchase and sale of securities, the Bank opens a ledger account and, to keep account of the actual securities, a custody account. Transactions involving the purchase and sale of securities are based on the client’s instructions given in a standardized form. These are submitted to the Bank on paper or using special means of communications (facsimile, telephone, telex, SWIFT, REUTERS, the Bank-Client system).
Non-residents can only receive service when they conclude transactions at the MICEX. They should open C-type and/or N-type ruble accounts to make settlements on transactions with securities, or special S-type ruble accounts for transactions with GKOs, OFZs and some stocks and debentures issued by Russian enterprises.
Transactions at the MICEX are subject to the prior depositing of securities or funds. Transactions on the OTC market are either subject to prepayment (or advance delivery of securities) by the partner, or are kept within the limit that the client may set for each of his partners.
The transfer of funds from the results of trading is carried out in the case of governmental bonds on the day the instructions are submitted (except on days when coupons and issues are repaid), and on the following day in the case of corporate securities.
Transactions Involving Purchase and Sales of Stocks and Bonds
Sale and Purchase of Securities under the Purchase and
Sales Agreement
UniCredit Bank concludes transactions
related to the sale and purchase of bonds of the internal
government foreign currency bond issue (OVGVZ) and promissory
notes. Transactions involving the sale and purchase of Eurobonds
are also conducted with non-residents. Agreements to sell and
purchase securities are made between the Bank and the client for
each transaction. This service is provided to legal entities
irrespective of whether they have an account with the Bank or
not.
Non-resident companies should open C-type or N-type ruble accounts with UniCredit Bank, or any other authorized Russian bank so as to make settlements for transactions involving the sale and purchase of securities in rubles.