Bank of Russia sets rules for fast transfers of securities
The system of fast transfers of securities will become effective on 1 September 2026. The system will make it possible for investors to promptly transfer assets across their trading depository accounts opened with different depositories. The relevant Bank of Russia ordinance has been registered by the Russian Ministry of Justice.
The new rules considerably simplify the investor’s customer journey. Now, investors will be required to submit only one order, namely a securities debit order, instead of filing two separate documents for securities credit and debit with two depositories.
The rules set strict timeframes for conducting these operations at every stage. During the first year, each depository action must be performed within five minutes; from 1 September 2027, the time limit will be reduced to two minutes. Currently, it takes several days for an investor to transfer securities. Under the new system, it will take approximately 25 minutes, given that the securities transfer chain is minimum.
The service will be provided by all record-keeping institutions that open trading depository accounts for individuals. Market participants are getting prepared for the launch of the new system, while realigning their business processes.