The National Depository Center (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and Open joint-stock company «R.O.S.T. Registrar», a specialist registrar, 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.
Oleg Zhiznenko, General Director, OJS Company «R.O.S.T. Registrar», pointed out: “Improved protection of shareholder property from third party fraud, acceleration of operations and decreased transaction costs all reflect positive dynamics in the domestic securities market infrastructure. The switch by R.O.S.T. and NDC to EDI, a new level of information interaction, represents our intention to improve the quality of services rendered to our customers and to contribute to the development of the Russian stock market’s infrastructure.”
Nikolay Egorov, NDC Director, added: “Unification of access is one of the significant tasks for infrastructure organizations focused on integration into the global financial market. NDC is following this path and we are happy that OJS Company «R.O.S.T. Registrar» has joined the EDI system recommended by NDC to market participants.”
OJS Company «R.O.S.T. Registrar» 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.
Paper copies of electronic data will only be provided where required by current Russian Federation legislation, on terms determined by corresponding agreements of the parties.
About OJS Company «R.O.S.T. Registrar»:
OJS Company «R.O.S.T. Registrar» is Russia’s leading registrar providing a full range of services in the maintenance and storage of share registers to over 2,000 Russian issuers including the largest state holding companies and leading industrial enterprises and to more than 4.7 million owners of securities. The company has 28 regional branches located in seven Russia’s federal districts and a subsidiary company in Ukraine.
OJS Company «R.O.S.T. Registrar»’s quality management system corresponds with ISO 9001:2000, as certified by Bureau Veritas Certification.
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, .