Russia's NSD to stop using SWIFT as electronic document flow channel for depository services as of May

MOSCOW. Nov 27 (Interfax) - Russia's National Settlement Depository (NSD) has postponed the date by which it will stop using the SWIFT system as a channel for electronic document flow for depository services, with the exception of work with foreign depositories, to May 1 from January 1, 2024, the NSD said.

In light of this, the NSD recommended considering ahead of time a switch to alternative channels of interaction for depository services, such as an online account for depository clearing services or the NSD Integrated Gateway online service.

The NSD initially planned to stop using SWIFT as a channel for electronic document flow for depository services as of October 1, 2023.