MOSCOW (RNWire) - The National Depository Center (NDC), Russia's only settlement depository servicing the full range of Russian securities, and Professional Registration Center CJSC, have begun the trial use of an electronic data interchange (EDI) system in their information interactions.
This experimental mode covers cooperation between NDC as a nominal shareholder and Professional Registration Center CJSC, involving both electronic and paper-based forms, whenever Professional Registration Center CJSC 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 agreement was signed by NDC and Professional Registration Center CJSC on 10 April, 2008. An agreement for completion of testing of the EDI system is dated 27 June, 2008. The parties plan to switch to paperless interaction after the trial period.
About Professional Registration Center CJSC:
Professional Registration Center CJSC (license #10-000-1-00293 issued by Russia’s Federal Commission for the Securities Market on 13 January 2004 for an unlimited term) provides maintenance and storage of share registers on behalf of securities owners. Currently Professional Registration Center CJSC supplies services to 608 joint stock companies; the number of accounts serviced is more than 3.4 million. The company is headquartered in Moscow with branches in Astrakhan, Vladimir, Yekaterinburg, Nizhny Tagil, Ivanovo, Irkutsk and Krasnodar.
More information of Professional Registration Center CJSC is available at www.profrc.ru
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 1Q 2008 the value of assets in storage was more than RUR4.2 trillion. NDC is the largest paying agent on behalf of corporate bond issuers. It is Russia's national numbering agency, 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 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 (28.54%).
For further information about NDC: www.ndc.ru, or NDC Public Affairs Department: +7 495 232 0910, .