Foreign investors will be able to use nominee accounts with Russia’s Central Depositary from March 30, said Dmitry Pankin, head of Russia’s financial market service.

“This is a very significant, concrete step” in the development of the local market, Pankin told a conference in Moscow today.

Trading of Russia’s government ruble bonds known as OFZs through the central depositary will start next month, Pankin said at a conference today.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net