Not-for-Profit Partnership “The National Depository Center” and joint-stock company “IRCOL” have started to interchange electronic documents in the course of operations on NDC’s account at the issuer registers, maintained by JSC “IRCOL” in trial mode. During the test phase paper documents will be transmitted along with the electronic documents, and after FSFM of Russia registers changed Procedures of registered securities register maintenance of JSC “IRCOL” paper copy of electronic documents will be provided only in cases provided for in the current regulations.
NDC CEO Nikolay Egorov pointed out that “one of the main tasks for NDC at the moment is to speed up procedures for IPO and provision of re-registration of ownership rights for equity within one day. From that point of view, registrars that introduced electronic document interchange with the settlement depository, issuer and investors, have a competitive advantage”.
According to JSC “IRCOL” First Deputy General Director Maksim Murashov “Possibility of electronic document interchange allows to proceed to the more advanced level of client services in terms of quality and efficiency and prooves IRCOL position as the technological leader in its field. In the near future IRCOL plans to continue establishment of information interoperability with its counterparties by interchange of electronic documents using NDC electronic document interchange system”.
Specialized registrar JSC “IRCOL” provides maintenance services for registers of registered securities since 1994 and has unlimited licence for provision of those services, No. 10-000-1-00250, issued August 9, 2002 by the Federal Commission for the Securities Market.
Guarantee of ownership rights of securityholders, comprehensive client services and development of JSC “IRCOL” based on the following principals: high quality of services provided, personal client services, reliability and confidentiality, continual broadening of service range, usage of modern software, on-going technology development, professionalism and qualification of staff.
Additional information about JSC “IRCOL” and its activities can be obtained at www.ircol.ru