The National Depository Center (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and the registrar JSC "DRAGa", announced today their adoption of an electronic data interchange (EDI) system in their information interactions, following a trial.
The switch to a unified standard in information exchange will allow accelerated operations and settlements, reduced risks of error and fraud, increased operational efficiency and enhanced confidentiality.
Alexander Karavayev, General Director, JSC "DRAGa", said: “Implementation of EDI in our interactions with NDC is a next stage of technological improvement of services provided to Russia’s major companies whose registers are maintained by our company, including JSC «GAZPROM», AO MOSENERGO and JSC Gazprom neft. EDI allows the fast exchange of all necessary data in a format conducive to further automated processing and also gives shareholders an opportunity to make operations in their registers swiftly.”
Nikolay Egorov, NDC Director, added: “The switch to EDI between NDC and JSC "DRAGa" allows us to improve the quality of services and to accelerate interactions with the clients. Use of EDI technology will let us minimize financial costs and allow reduced time needed for the organization of interactions between the participants of the process. We will be also able to create conditions for a comprehensive reduction of risks related to processing of large volumes of information.”
JSC "DRAGa" will enter records of transactions made in customer accounts of NDC acting as a nominal holder and provide information on NDC’s customer accounts opened in registers, on the basis of electronic data.
About JSC "DRAGa":
JSC "DRAGa" has supplied the maintenance and storage of share registers since 1994 (license #10-000-1-00291 issued by Russia’s Federal Commission for the Securities Market on 26 December, 2003).
JSC "DRAGa" is an authorized registrar of the Ministry of Property of the Russian Federation. The company maintains registers of major Russian issuers, including JSC «GAZPROM», AO MOSENERGO, JSC Gazprom neft, RSC Energia, “Udarnitsa” Co, OJSC “SIBUR Holding”, Gazprom-Media OJSC and others.
JSC "DRAGa" has been a member of the Professional Association of Registrars, Transfer Agents and Depositories (PARTAD) since 1996. It was ranked tenth on basis of its equity capital and insurance cover in PARTAD’s National Ranking of Russian Registrars for 1H 2008.
JSC "DRAGa" is headquartered in Moscow. The company has branches in Volgograd, Ivanovo, Kazan, Korolyov, St. Petersburg and Saratov.
For further information about JSC "DRAGa": +7 495 719 3930, e-mail: , www.draga.ru.
Not-for-Profit Partnership “The National Depository Center” is the largest settlement depository in Russia, servicing the full range of debt and equity securities of Russian issuers. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, and more than 99% of stock exchange transactions with equities and OTC trades. The international rating agency Thomas Murray has assigned NDC an АА- rating as a central depository. NDC is Russia's national numbering agency, and the substituting numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.
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, Vnesheconombank, ING Bank Eurasia, JP Morgan Bank International LLC, UniCredit, Deutsche Bank, and Sberbank. The Partnership also has stakes in Depository Clearing Company CJSC (37.29%), in Settlement Depository Company CJSC (28.54%) and in Bank "National Clearing Centre" CJSC (0.27%).
For further information about NDC: www.ndc.ru, or NDC Public Affairs Department: +7 495 232 0910, .