MICEX Group and NDC open gateway to the Russian market for financial service providers worldwide

04 August 2008
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The MICEX Group and the Not-for-profit Partnership “The National Depository Center”, Russia’s only settlement depository servicing the full range of Russian securities, announces today their participation in Sibos, the world’s largest financial services event sponsored by SWIFT. For the first time at Sibos, NDC representing MICEX Group, will:

  • showcase the Russian financial infrastructure as well as the MICEX Stock Exchange and NDC’s service mix targeted to global financial institutions.
  • launch a joint road show of the Russian financial markets, which will be sponsored by the MICEX Stock Exchange and NDC.

The key themes at Sibos 2008 for the participants from Russia are how Moscow is attaining the status of an international financial centre and if the Rouble may become a global reserve currency?  Russia is aiming at scalability of stock market operations, improvements in inner and cross-border processes. That’s why Sibos can be helpful in broadening partnerships with the financial institutions worldwide and, thus, gaining better insight of the Russian financial infrastructure in the European and global markets.

The special Program for Russia and CIS will be conducted on the 16-th of September, 2008. Discussion will run in the framework of three sections covering the following questions: Can the Rouble become a global reserve currency? What is the future best practice for the securities market in Russia and CIS? Where will the major financial centres be in 2013? Representatives of MICEX Group will participate and speak during the Program.      

On the 16-th of September, 2008, at 5p.m., Alexey Rybnikov, the CEO, MICEX Stock Exchange, and Nikolay Egorov, Director, NDC, will present the Program of the International Road Show on the Russian market (Investor’s Days). The presentation will take place at the NDC’s stand B514.

During the week of Sibos NDC will also distribute a free electronic practical guide: “Gateway to the Russian market”. This will provide banks and their corporate customers with an accessible reference tool to aid institutional investors and funds’ planning and decision-making. Copies of the guide will be available at NDC’s stand. MICEX Group will be represented by the MICEX President Alexander Potemkin, the CEO of MICEX Stock Exchange Alexey Rybnikov, the NDC’s Director Nikolay Egorov and other respected representatives.

Sibos, the world's premier financial services event, takes place from September 15 to September 19 in Vienna. It is expected to attract more than 7,000 payments, securities, treasury and trade experts to discuss new technologies, processes, efficiency and security. More information about Sibos can be found at: www.SWIFT.com

About NDC:

Not-for-Profit Partnership “The National Depository Center” is the largest settlement depository in Russia, servicing the full range of equity securities of Russian issuers. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 95% of transactions conducted in the corporate and regional bond markets, and stock exchange share transactions. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, and 95% of sub-federal and municipal bond issues. The international rating agency Thomas Murray has assigned NDC an АА- rating as a central depository which means very low level of risk. For 1H 2008 the value of assets in storage was RUR4.4 trillion. NDC is the largest paying agent on behalf of corporate bond issuers. It is Russia's national numbering agency, and the substituting numbering agency for the CIS, authorized to assign the international ISIN and CFI codes. It is also a member of the international accounting infrastructure, providing settlements on the global financial markets using direct accounts at Clearstream Banking S.A. and Euroclear Bank. It also holds accounts at the Central Depository of the Republic of Kazakhstan, the NDC of the Republic of Azerbaijan and the Republican Central Securities Depository (Republic of Belarus).

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), Evrofinans Mosnarbank, Rosbank, VTB Bank (Vneshtorgbank), Bank of Moscow, Rossiysky Credit Bank, Vneshekonombank, ING Bank Eurasia, JP Morgan Bank International LLC, UniCredit, Deutsche Bank, and Sberbank. The Partnership also has stakes in Depository Clearing Company CJSC (36.96%), in Settlement Depository Company CJSC (28.54%) and in Bank "National Clearing Centre" CJSC (0.67%).

For further information about NDC: www.ndc.ru, or NDC Public Affairs Department: +7 495 232 0910, .

About MICEX Group:

The MICEX Group, which integrates the trading and the settlement systems on a unified technological platform, holds the central place in the infrastructure of the Russian capital market. The Group is comprised of the MICEX, the MICEX Stock Exchange, the National Mercantile Exchange, the MICEX Settlement House, the National Depositary Center, the National Clearing Center, regional exchanges, etc. These organizations provide trading, settlement, clearing and depositary services to about 1500 market participants — leading Russian banks and broker companies located in Moscow and Russia’s large financial and industrial centers.

At present, the MICEX Group operates a number of markets: the foreign exchange market, the government bonds market, the market of derivative instruments, the stock market, the market of corporate and regional bonds and the money market. After implementing the up-to-date electronic trading and depositary systems the Group became a universal financial exchange which serves as a basis for a nationwide system of trading in all of the main segments of the financial market.

The MICEX Stock Exchange is Russia’s leading stock market accounting for 99% of the total volume of trading in stocks on all Russian stock exchanges and over 70% of the global on-exchange volume of trading in Russian securities (including GDRs and ADRs). The Exchange organizes trading in securities of over 760 issuers whose total market capitalization is about 1,2 trillion US dollars. Trading is held electronically on the basis of an up-to-date electronic trading system, connected to regional floors and over 1700 remote terminals of 640 broker companies and banks in 100 Russian cities, which serve over 450,000 investors. The MICEX Stock Exchange is one of the world’s top 20 stock exchanges based on the volume of exchange trading in corporate securities.

The MICEX Group has one of the word’s most advanced electronic trading and depositary systems. Fiber optic lines, satellite and other communication channels connect the Exchange with over 1500 remote workplaces in banks, broker companies and other financial institutions located in 50 Russian cities, including Moscow, Novosibirsk, St.Petersburg, Rostov-on-Don, Yekaterinburg, Vladivostok, Nizhni Novgorod, Samara and other cities. A number of international providers of trading solutions for broker companies and banks (GL Trade, ORC Software, ION Trading) have been able to connect their products to the trading system, which makes access to the MICEX markets much more convenient for foreign participants.

    

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