The National Depository Center (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and ING Wholesale Banking (legal name “ING BANK (EURASIA) ZAO”) announced today that with effect from 22 July, 2009 Public Joint-Stock Company «AVTOVAZ» and JSC «Interregional distribution grid companies Holding» has been added to those serviced through the jointly-developed Speedy Settlement Scheme (SSS).
The Speedy Settlement Scheme (SSS) was designed jointly by NDC and ING Wholesale Banking to reduce the time needed for the delivery of shares and to optimize settlements between NDC and ING Wholesale Banking clients. The Scheme has functioned successfully since November 2007. Shares transferred using SSS from ING Wholesale Banking to NDC can begin trading on the MICEX exchange the same day. Shares bought on MICEX can be transferred to ING Wholesale Banking the same day, after the clearing session is over.
Not-for-Profit Partnership “The National Depository Center” is the largest settlement depository in Russia, servicing the full range of debt and equity securities of Russian issuers. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, and more than 99% of stock exchange transactions with equities and OTC trades. The international rating agency Thomas Murray has assigned NDC an АА- rating as a central depository. NDC is Russia's national numbering agency, and the substituting numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.
Among NDC’s founders are MICEX and Bank of Russia (the founders’ shares in the property of NDC are 46.67% and 39.35% respectively, and in the votes 50.16% and 42.3% respectively). Members include GPB OJSC (Gazprombank), Evrofinance Mosnarbank, ROSBANK (OJSC JSCB), JSC VTB Bank (Vneshtorgbank), Bank of Moscow, JSC Rossiyskiy Kredit Bank, Vnesheconombank, ING Bank (Eurasia) ZAO, JP Morgan Bank International LLC, ZAO UniCredit Bank, Deutsche Bank, and Sberbank. The Partnership also has stakes in Depository Clearing Company CJSC (37.29%), in Settlement Depository Company CJSC (28.54%) and in Bank "National Clearing Centre" CJSC (0.27%).
For further information about NDC: www.ndc.ru, or NDC Public Affairs Division: +7 495 232 0910, .
About ING Wholesale Banking:
ING Wholesale Banking in Russia is the largest depository, storing client assets worth over US$67 billion (as of 30 June, 2009) and servicing the needs of over 450 foreign and Russian clients.
ING Wholesale Banking offers its clients a full range of financial services, including investment and banking services, settlement and cash services, depository services, operations on internal currency and financial markets, general and structural financing.
ING Group is a global company of Dutch origin with 150 years of experience. The company provides a wide range of financial services, including banking, insurance, as well as trust management services in over 50 countries of the world. The Group’s assets total EUR1,332 billion. ING includes a wide range of famous companies, mainly operating under the ING brand.
For further information about ING services in Russia, please visit www.ing.ru