MOSCOW - On August 15, 2007, the National Depository Center (NDC), Russia's only settlement depository servicing the full range of Russian securities, and Central United Registrar CJSC (CUR), having completed a period of experimental use, began exchanging electronic documents in the process of informational interaction without using paper documents. The use of electronic data interchange (EDI) will allow the companies to move to a higher level of quality and efficiency in client servicing.
Eddie Astanin, Acting Director, NDC, said: “The transit to the paperless circulation of documents with CUR is well-timed taking into consideration our current needs in the area of gathering voluminous lists of large issuers’ shareholders whose registers are administered by CUR, and the necessity to have this technology is growing in proportion to the dynamics of stock market development and the number of investors involved.”
Victoria Anisimova, Director, CUR, added: “The modern requirements for speed and quality of information transmission and processing, and also for risk minimization, are being achieved by means of EDI. As far as the registrars and the whole accounting infrastructure are concerned, administering the registers of issuers with a large investor base is more complex in both the operation processes area and the development of technological solutions for data processing. There is no alternative to electronic cooperation in the new circumstances of today.”
CUR will enter records of transactions made in NDC’s accounts and provide information on NDC’s accounts, and cooperation between NDC, as a nominal shareholder, and CUR will continue on the basis of electronic documents. Paper copies of electronic documents will only be provided in cases envisaged by the existing legislation of the Russian Federation, on the terms determined by corresponding agreements of the parties.
About CUR:
Central United Registrar CJSC is a modern specialized registrar.
The company provides administration, implementation and protection of the rights and lawful interests of investors in the securities market.
Clients that have entrusted the administration of their registers to CUR include the following joint stock companies: VTB (Vneshtorgbank), VTM Asset Management, Samaraneftegaz, Tomskneft of Eastern Oil Company, Russpetzstal, Metallurgic Plant Krasny Oktyabr, the issuers of Perm Motor-building Complex.
The chartered capital is 45,000,000 Rubles.
The insurer is ROSNO JSC, the insurance amount is 1,000,000 US Dollars
For more information about CUR visit: www.regcor.ru , contact telephone number: +7(495) 787-44-83, E-mail: .
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, 95% conducted in the corporate and regional bond markets, and 90% of 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 A+ rating as a central depository. In 2006 the value of assets in storage was RUR 3.3 billion, turnover was RUR 30.7 billion, and the total number of operations 1.9 million. NDC is the largest paying agent on behalf of corporate bond issuers. It is Russia's national numerating agency, the substituting numerating agency for the CIS, authorized to assign the international ISIN and CFI indexes. It is also a member of the international accounting infrastructure, providing settlements on the global financial markets using a direct account at Clearstream Banking S.A.
Among NDC's founders are Bank of Russia and MICEX (the founders' shares in the propery are 46,7% и 39,3% respectively, and in the votes 50,2% и 42,3% respectively). Members include Bank of Moscow, Sberbank, International Moscow Bank, JP Morgan Bank International LLC, VTB Bank (Vneshtorgbank), Vneshekonombank, Rossiysky Credit Bank, Evrofinans Mosnarbank, Rosbank, Gazprombank, ING Bank Eurasia, and Deutsche Bank. Recently Vneshekonombank was approved as a new member. The Partnership also has a stake in Depositary Clearing Company CJSC (36.96 %) and in Settlement Depository Company CJSC (29%).
For further information about NDC: www.ndc.ru, or NDC press service: +7 495 232 0910, .