The National Settlement Depository (NSD) – is a Russian non-bank financial institution, central securities depository, and professional securities market participant engaged in depository business. NSD is a member of the Moscow Exchange Group and provides depository, settlement (bank account), and related services to financial market players. NSD is the central securities depository (CSD) of the Russian Federation, whose services cover both securities listed in Russian Federal Law No. 414-FZ dated 7 December 2011 "On the Central Securities Depository", and other Russian and foreign equity and debt securities. NSD was assigned the CSD status by the Russian Federal Financial Markets Service by Order No. 12-2761/pz-i dated 6 November 2012. NSD is the largest securities depository in Russia by market value of equity and debt securities held in custody. NSD is headquartered in Moscow.