NDC and Gazprombank signed Protocol of Intent on Joint Actions in EDI Systems Development

11 July 2005
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Joint-Stock Bank of the Gas Industry "Gazprombank" and Not-for-Profit Partnership "The National Depository Center" (NDC) have signed the Protocol of Intent on joint actions in mutually coordinated development of their electronic document interchange (EDI) systems, currently used by Gazprombank Depository and by NDC for interaction with their Clients.

This step is a logical continuation of the co-operation of the two biggest depositories, involving participation of Gazprombank in NDC and inclusion of NDC into shareholder list of ZAO "Settlement-Depository Company" (ZAO "SDC"). At present ZAO "SDC" executes trade settlements for OAO Gazprom shares as per trading results at the Stock Exchange "Saint-Petersburg".

In the context of this joint activity it is planned to implement projects involving unification of the regulatory and legal framework of the Parties' EDI, currently used electronic signature and cryptographic data protection, as well as of the pertinent software. For this end in view, the Parties have organized a working group.

In the signed Protocol the Parties emphasized the importance of observance of the openness principle in creation of the electronic document interchange systems, which will allow all the interested professional securities market participants and the clients of custodians to use the existing and future performance capabilities of the EDI systems of the two depositories.

More detailed information on NDC activity may be obtained from the NDC’s web-site on: http://www.ndc.ru; you may also view further information on JS Bank of the Gas Industry "Gazprombank" (ZAO) on the Bank's web-site at: http://www.gazprombank.ru

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