The service for fast transfer of securities “Most” will become available to Russian investors in 2025, reported Vedomosti: NSD Managing Director for Infrastructure Projects Sergei Bernevega.
The service for fast transfer of securities between brokers will be launched in 2025
Author: Karina Pardaeva
The Bridge service will automate the process of transferring securities between brokers, reducing the transaction time to several hours. Now the procedure takes several days and requires a personal visit to the broker’s office. In the new system, transfers will be possible through mobile applications and personal accounts of clients.
Seven financial market participants have already submitted applications for integration with the service, including Digital Broker, Alfa Investments, Gazprombank Investments and others.
According to Bernevega, for a full launch, amendments to the Tax Code and approval of a uniform standard for the transfer of information about securities between brokers are required. These issues are currently being discussed with market participants.
The service was created by NSD in August 2023. It was originally planned to connect brokers to the Bridge in the first quarter of 2024, but the launch date was postponed. In May, NSD said the service would be available by the end of the year, but in June, NSD acting chairman of the board Viktor Zhidkov said the launch was not expected until the fall.
For the service to fully operate, it is necessary to make changes to the Tax Code, which will ensure tax accounting of expenses for the acquisition and storage of securities using data transmitted in electronic format. These amendments were submitted to the State Duma in September and should be considered in the second reading on October 22.
The Board of Directors of the Central Bank issued a directive in September that allows depositories to exchange information about securities that require segregation. This will solve the problem of temporary unavailability of investors’ assets, which previously arose during their transfer, Bernewega explained. It is expected that final agreement on a unified data transfer standard will be achieved before the end of the year.
The consulting agency Markswebb has identified the best brokerage applications of 2024; the top 3 included Alfa Investments, BCS World of Investments and Tinkoff Investments. Applications of these services on Android are the leaders in downloads on Google Play and RuStore.
Cover photo: Unsplash
Source: rb.ru
