JSC R.O.S.T. Registrar, Russia’s leading registrar, and National Settlement Depository (NSD), Russia’s central securities depository, have concluded an agreement on the creation of the backup office of the registrar in the NSD office and on the basis of NSD information systems. The backup office will be used in emergency situations.
The agreement signed with NSD represents a final stage of improvement of R.O.S.T. Registrar’s system of business continuity and recovery in case of partial or full breakdown of the registrar’s central office due to negative external or internal factors. It should be reminded that in January 2015, R.O.S.T. Registrar’s IT systems that provided the continuity of shareholder register maintenance processes successfully passed an independent audit.
Lyudmila Mironova, General Director of R.O.S.T. Registrar, said: “Our company’s reliability and guaranteed implementation of our obligations to clients are our key priorities. We increased the level of fault-tolerance of our register maintenance system when selected NSD for accomplishing this task and agreed on the use of the NSD office and IT infrastructure in crisis situations, and we believe that our clients will appreciate our efforts. We think that the strategic cooperation with NSD will create a new development focus for R.O.S.T. Registrar and will have a positive impact on the development of the registration market in general.”
NSD becomes a strategic partner of the registrar because the depository is a central element of the record keeping system of Russia’s stock market; it has got an efficient EDI system and meets strict requirements for business continuity procedures.
The agreement between R.O.S.T. Registrar and NSD presumes a number of joint actions in the situations affecting the registrar’s stable operations and servicing clients in its central office.
The backup office is to be launched in the crisis situation in three stages:
- The registrar will quickly migrate to the backup data processing center;
- Some R.O.S.T. Registrar’s personnel will be transferred to the NSD office functioning as the registrar’s backup Moscow office;
- The registrar’s clients will be quickly informed about the temporary change of the place of servicing.
This approach will allow to carry out the processes sensitive to interruption in the back office in a manner consistent with all legal requirements.
To retain the high level of R.O.S.T. Registrar employees’ readiness to work in emergency situations, the parties agreed to conduct regular trainings within the framework of the NSD business continuity and recovery plan.