About the Bank
SPB Bank PJSC is the bank of the Nonprofit Partnership for the Development of the RTS Financial Market (NP RTS). The Bank renders services to professional securities market participants and focuses on the needs of the community of practice and the NP RTS partners.
The Bank entered the NP RTS group of companies in November 2013. The main mission of the bank is to become an intermediary between the market players and infrastructural organizations, to provide a complete range of services that allows them to improve their performance, efficiency, and to increase the return on capital as a result.
SPB Bank PJSC provides its services to institutional investors: brokerage and dealer companies, trustees, asset management companies, banks, and insurance companies as well. The Bank offers a full range of services for its customers to have access to the Saint Petersburg and Moscow Exchanges. We take into account the interests of different types of investors and therefore provide a connection to the money and foreign exchange markets (including the swap market) and repurchase market.
Also, the Bank provides a full range of services for access to European and American stock exchanges. Investing in international equities on foreign stock markets creates ample opportunities for investors to generate income and diversify their investments. In particular, the instruments available to investors include shares of the world's largest companies, index funds, derivatives, foreign currencies, that allow creating investment portfolios with different characteristics and capabilities. Separately, it should be noted that the provision of access to international markets is provided on behalf of a Russian financial institution and is carried out entirely within the Russian legal framework. This allows protecting the interests of the investor under the legislation of the Russian Federation.
SPB Bank PJSC pays special attention to supporting the business of its customers and therefore offers a list of services for a cash settlement and payment services. We strive to create a comfortable ecosystem for our customers' business and make it as easy as possible for them to solve problems in the banking operation sector. Since October 1, 2017, SPB Bank PJSC has been providing internal accounting services for professional securities market participants. The Bank also provides services for simplified customer identification.
Depository services are one of the most dynamically developing areas of the bank’s activities. An extensive network of correspondent accounts allows the depositary's customers to carry out transactions with almost any instrument of stock markets quickly and reliably.
SPB Bank PJSC has been performing the functions of a settlement depository since December 2, 2019 (settlements of securities based on the results of obligation clearing s arising from transactions made at Saint Petersburg Exchange). A security clearing agency performing the above-mentioned clearing is the Central Counterparty “Clearing Center of the MFB” (joint-stock company).
SPB Bank has the status of a Qualified Intermediary (QI) that does not assume primary for withholding and reporting responsibilities (hereinafter QI without primary withholding and reporting responsibility). The Bank may provide the withholding of tax at the reduced rate when paying income under the corporate action “Withholding Tax Relief Certification” (WTRC) about US securities subject to regulation under chapters 3 and 4 of the US Internal Revenue Code, only for the securities recorded in accounts with the depositories that offer such service.
Description of the NP RTS Group of companies that consists of the associated related legal entities
For the time being the NP RTS Association is working on many projects, including the advanced trading and clearing System, the multifunctional OTC market information system “RTS Board”, the “Voskhod” investment system, and the global companies’ stock market on the Saint Petersburg Exchange. In addition, the NP RTS Association offers IT services for financial market participants, develops the services of SPB Bank, publishes the magazine on financial markets “Financial One”, and helps to improve the financial literacy of the population through the website Fingramota.org.
The Clearing Center of the MFB acting as a central counterparty in foreign securities transactions plays a significant role in the trading and clearing infrastructure of the Saint Petersburg Exchange. Since 2014 the Clearing Center has been performing the functions of a central counterparty and clearing foreign securities based on the results of transactions concluded in on-exchange trading. Currently, the main activities of the Clearing Center are clearing activities, activities of the central counterparty. The Clearing Center of the MFB carries out the central clearing of the securities sale and purchase agreements and sale and repurchase agreements concluded during the trading on the Saint Petersburg Exchange.
The foreign securities trading started on the Saint Petersburg Exchange in November 2014. In 2016 the Saint Petersburg Exchange started to provide access to foreign securities and then kept to enlarge the number of securities traded on the exchange. Since the mid-2017 all securities from the S&P 500 list have been traded on the Saint Petersburg Exchange. Today Saint Petersburg Exchange is the largest foreign securities market operator in Russia and provides ample opportunities for private investors to carry out transactions with foreign financial instruments. For the time being the total number of foreign securities traded on the Saint Petersburg Exchange is more than 1,600.