The article is devoted to the problems of mutual settlements with the international central depository, which provides liquidity to the vast majority of foreign securities held by private and institutional investors, residents of the Russian Federation. The paper gives a description of the modern design of the exchange infrastructure of the Russian market. Methodical research tools: analysis of normative legal acts and resolutions, methodological instructions of the national settlement depository. As the study showed, the interests of Russian investors who make transactions with foreign securities are extremely vulnerable in the current version of interaction with foreign counterparties. It is concluded that the national organizers of the auction need to revise the structures of mutual settlements. The author put forward options for reducing the regulatory and transactional risks of transactions with foreign securities.
exchange infrastructure, clearing, depository, international central agent, regulatory risks, mutual settlements with external
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