MOSCOW - The National Depository Center (NDC), Russia's only settlement depository servicing the full range of Russian securities, and Interregional Registration Center OJSC (IRC), have begun the trial use of an electronic data interchange (EDI) system in their information interactions.
This experimental mode envisages cooperation between NDC as a nominal shareholder and IRC, involving both electronic and paper-based records, whenever IRC creates records of its operations and submits its accounts data to NDC. Cooperation between the participants is powered by the workplace software SED NDC (Luch).
An information cooperation contract was signed by NDC and IRC on April 29, 2008. An agreement for completion of testing of the EDI system is dated Aug.1, 2008. The parties expect to transition to paperless interaction after the trial period.
About Interregional Registration Center OJSC:
Interregional Registration Center OJSC (IRC) (license #10-000-1-00274 issued by Russia’s Federal Commission for the Securities Market on Dec. 24, 2002 for an unlimited term) is a professional participant in Russia’s securities market which has provided the maintenance and storage of share registers since 1993. IRC has been a member of PARTAD from 1997. It is headquartered in Moscow with branches in Ulan-Ude, Abakan, Nizhny Novgorod, Arzamas, St. Petersburg, Tula and Krasnodar.
Currently 540 joint stock companies are serviced by IRC, 98 of these having have more than 500 shareholders. The total number of the inscribed stock owners’ accounts in IRC’s system is more than 400,000.
The company’s professional risks are insured by Ingosstrakh to RUR30 million.
The registrar’s material and technological base and highly qualified personnel correspond with the latest requirements of stock market systems.
For further information about IRC: www.mrz.ru
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, 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, .