The RTS Settlement Chamber is a non-banking credit organization created by not-for-profit Partnership “RTS Stock Exchange” and licensed by the Central Bank of Russia in 1999. The mission of the organization is to provide reliable settlement. The same Board of Directors as that of the RTS Stock Exchange governs the Settlement Chamber, thus making it transparent and fully controlled by market participants.
At present the RTS Settlement Chamber client base numbers about 400 companies including leading Russian trading floors, banks and investment companies.
In June 2000 the RTS Settlement Chamber has signed an agreement with “Ingosstrakh” insurance company. This document stipulates that all fraud-related risks that Settlement Chamber might bear will be fully insured in accordance with the “Rules of Bank Property Insurance” and the “Rules of Bank Insurance Against Electronic and Computer-Related Crimes”.
In June 2002 the RTS Settlement Chamber was chosen as the clearinghouse for the unified Russian electric energy market being created in the country.
