On the April, 8 2004 at the NDC’s Partners General Meeting was made a decision to set up the new management body – Board of Directors.
Until now NDC was governed by two executive bodies: General Meeting and CEO.
Forming of the Board of Directors by representatives of major market participants is the common practice of infrastructure entities both in Russia and abroad. The Board’s terms of reference generally cover development, relationship and operational management issues.
NDC’s Board of Directors is empowered to generate decisions on development, general management, budget, fee and technology policies of the Russia’s largest settlement depository.
Diverse representative structure (professional market participants, trading systems, government bodies) of the Board will facilitate NDC presence in consultations on market structure and consolidation of it depository part.
Creation of the Board will add efficiency to management by splitting authorities between General Meeting, Board of Directors and CEO, bring transparency and move NDC towards achieving its strategic objectives.