The National Depository Center (NDC), Russia’s only settlement depository servicing the full range of Russian securities, and ING Wholesale Banking, Russia’s largest custodian rendering services to foreign investors, announced today that they are expanding the list of issuers serviced through their jointly-developed service, the Speedy Settlement Scheme (SSS), designed to reduce the time needed for the delivery of shares and to optimize settlements between NDC and ING Wholesale Banking clients. The list will now include shares of the companies formed in the restructuring of RAO UES of Russia.
Additions to the list include the following 20 newly formed companies: "Federal Grid Company of United Energy System" JOINT-STOCK COMPANY, JSC RusHydro , JSC "OGK-1", JSC "OGK-2", JSC "WGC-3", JSC "OGK-4", JSC "OGK-6" , JSC "TGC-1", JSC "TGC-2", JSC "TGC-4", JSC "TGC-6", JSC "TGC-9", JSC "TGC-10", JSC "TGC-14", OJSC "Volga TGK", "South Generation Company - TGC-8" OJSC, "KUSBASS ENERGO STOCK COMPANY OF OPEN TYPE", JSC "INTER RAO UES", JSC "Yenisei TGC (TGC-13)", AO MOSENERGO.
Accordingly, 32 issuers are now serviced through SSS. The change will take immediate effect (as of Aug. 20).
SSS can be used for transactions involving the issuance and redemption of depository receipts. Shares transferred using SSS from ING Wholesale Banking to NDC can begin trading on the MICEX exchange the same day. Shares bought on MICEX can be transferred to ING Wholesale Banking the same day, after the clearing session is over.
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 Depository of Securities (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, .
ING Wholesale Banking is a business division of ING Group, servicing large corporate clients, and has operated in Russia since 1993 (legal name ING Bank (EURASIA) CJSC).
ING Wholesale Banking in Russia is the largest depository, storing client assets worth over USD155 billion (as of 30 June 2008) and servicing the needs of over 450 foreign and Russian clients.
ING Wholesale Banking offers its clients a full range of financial services, including investment and banking services, settlement and cash services, depository services, operations on internal currency and financial markets, general and structural financing.
ING Group is a global company of Dutch origin with 150 years of experience. The company provides a wide range of financial services, including banking, insurance, as well as trust management services in over 50 countries of the world. The Group’s assets total EUR1,226 billion. ING includes a wide range of famous companies, mainly operating under the ING brand.
For further information about ING services in Russia, please visit www.ing.ru
For additional information, please contact Maria Teplukhina, ING Wholesale Banking: +7 495 755 5170,