MOSCOW (RNWire) - The National Depository Center (NDC), Russia's only settlement depository servicing the full range of Russian securities, and Open Registration Company OJSC (ORC), 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 ORC, involving both electronic and paper-based forms, whenever ORC 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 ORC on August 20, 2007. An agreement for completion of testing of the EDI system is dated 14 April, 2008. The parties expect to transition to paperless interaction after the trial period.
About Open Registration Company OJSC:
Open Registration Company (ORC) OJSC (license #10-000-1-00314 issued by Russia’s Federal Commission for the Securities Market for an unlimited term) has provided maintenance and storage of share registers on behalf of securities owners since 1996. ORC is a member of PARTAD. It is headquartered in Moscow with branches in 12 Russian cities.
The company’s equity capital exceeds RUR81.47 million. To date the number of joint stock companies serviced by ORC is more than 900, of which 103 have more than 500 shareholders. Securities of a number of ORC’s clients are traded on both Russian and international stock exchanges.
The company’s professional risks are insured by Ingosstrakh to RUR30 million.
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 A+ rating as a central depository. For 2007 the value of assets in storage was more than RUR4.3 trillion. NDC is the largest paying agent on behalf of corporate bond issuers. It is Russia's national numerating agency, the substituting numerating 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 and the NDC of the Republic of Azerbaijan.
Among NDC’s founders are MICEX and Bank of Russia (the founders’ shares in the property of NDC are 46.7% and 39.3% respectively, and in the votes 50.2% 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 a stake in Depository Clearing Company CJSC (36.96 %) and in Settlement Depository Company CJSC (29%).
For further information about NDC: www.ndc.ru, or NDC Public Affaires Department: +7 495 232 0910, .