MICEX Settlement House Begins Operating as NDC's Regional Representative in Yekaterinburg

01 June 2010
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"The National Depository Center" (Closed Joint Stock Company) (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and MICEX Settlement House (MICEX SH), reports that on 1 June, 2010, MICEX SH assumed functions of NDC's regional representative in Yekaterinburg. NDC’s participants will now be served in MICEX SH's Uralsky branch (A2 3 Kolmogorova, 620034 Yekaterinburg).

Eddie Astanin, Director General, NDC, pointed out: "We are completing reorganization of our regional network by means of transfer of NDC's regional representative functions to MICEX SH's Uralsky branch. It is worth adding that now we see positive results of MICEX SH branches' functioning as NDC representatives. It gives us confidence that we have made the right choice. Thus future integration of NDC's and MICEX SH's branches in Novosibirsk will be the next step towards optimization of the regional depository and settlement infrastructure. We also would like to remind that integration of the settlement and depository businesses in Russian regions represents the first practical stage of the priority project aimed at formation of the settlement depository on basis of NDC and MICEX SH approved by MICEX Group shareholders".

Sergey Sukhinin, Chairman of the Board Executive, MICEX Settlement House, added: "Regional integration of settlement business through transfer of NDC regional representative's functions to MICEX SH's branches provides practical advantages to market participants. From the very beginning of one-stop service at MICEX SH’s office the settlements’ speed is considerably increased. In particular document exchange is simplified for settlements of DVP transactions in OTC market, as the market participant has now to submit just one set of documents to MICEX SH's branch. Settlements reliability will be increased owing to high capitalization level and nil credit risks of MICEX SH. In future, after merger of NDC and MICEX SH, it is planned to introduce the unified electronic document exchange and continue the tariff policy optimization".

Previously the functions of the regional representative of NDC in Yekaterinburg were implemented by Regional Exchange Center “MICEX – Ural”. The terms of depository services offered to NDC participants remain unchanged. Detailed information of the provided services in Yekaterinburg is available at the following telephone numbers: +7 343 367 4378 (Uralsky branch of MICEX SH), +7 495 956 2789 (NDC Customer Services Department).

About NDC:

"The National Depository Center" (Closed Joint Stock Company) is the largest settlement depository in Russia, servicing on-exchange and OTC transactions with all types 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, the majority of transactions with equities and also services UIT units and Eurobonds. 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 substitute numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.

Among NDC’s shareholders are MICEX (50,1727% of shares), Bank of Russia (42,2997% of shares) as well as GPB (OJSC) (Gazprombank), Evrofinance Mosnarbank, “ROSBANK” (OJSC JSCB), JSC VTB Bank, Bank of Moscow, JSC “ROSSIYSKIY KREDIT BANK”, Vnesheconombank, “ING BANK (EURASIA) ZAO”, CB “J.P. Morgan Bank International” (LLC), ZAO UniCredit Bank, Deutsche Bank Ltd, and Sberbank. NDC has stakes in Depository Clearing Company CJSC (37.29%) and in Settlement Depository Company CJSC (28.54%).

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

About the MICEX SH:

The MICEX Settlement House (MICEX SH) is Russia’s largest non-banking credit institution specializing in providing settlement services to participants in financial markets of the Russian Federation. MICEX SH provides settlement services that meet present-day requirements for efficiency, continuity and operational reliability. In accordance with agreements concluded between MICEX SH and the Bank of Russia, MICEX SH acts as a settlement center for the organized securities market.

The register of MICEX SH’s shareholders includes, among others, such companies as MICEX (88.709 %), ZAO UniCredit Bank (3.6 %) and Sberbank (2.267 %).

Services provided by the MICEX SH are in high demand. Its clients number more than 880 major banks and financial companies from various regions of Russia, such as Sberbank, GPB (OJSC), Vnesheconombank, JSC VTB Bank, financial companies Troika Dialog and BCS Ltd., major foreign financial institutions subsidiaries, including CB “J.P. Morgan Chase Bank”(LLC), ZAO Citibank, Deutsche Bank Ltd., ZAO UniCredit Bank, ZAO Raiffeisenbank, Russian and foreign exchanges, the largest international brokerage company subsidiary “Cargill Yug. Ltd.” and other organizations.

For further information about MICEX SH: http://www.micex.ru/group/settlementhouse/

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