MOSCOW - The National Depository Center (NDC), Russia's only settlement depository servicing the full range of Russian securities, and CJSC Reyestr A-Plus, a leading registrar, today announced mutual adoption of electronic data interchange (EDI) in their interactions, following a trial. The implementation of unified electronic formats and technologies helps to minimize financial and time outlays, to increase operational efficiency, and to avoid mistakes occurring during manual data input.
Nikolay Egorov, Director, NDC, said: “The transit to the paperless data exchange with Reyestr A-Plus confirms the right course for the increased unification and harmonization of depositories’ and registrars’ operational standards. That, in turn, facilitates faster transactions and settlements in the Russian stock market. Especially important for us is the fact that EDI creates an environment for a comprehensive decrease in the risks associated with processing large data files.”
Tamara Filatova, General Director, Reyestr A-Plus, said: “Swift development of business is followed by swift development of technologies servicing it. Those who ignore or just do not notice the need to build up their company’s operations in line with these trends, risk becoming a loser in business. The registrar Reyestr A-Plus pays close attention to issues related to its development, and all its investments in technology are scrutinized for their orientation to the future. The “registrar – depository” system of the National Depository Center has easily passed that test because we realize that paperless circulation of documents is a prospective technological basis of financial organizations.”
Reyestr A-Plus will continue to enter records of transactions made in NDC’s accounts, provide information on NDC’s accounts, and cooperate with NDC, which is its nominal shareholder, on the basis of electronic documents. Paper copies of electronic documents will only be provided in cases envisaged by the existing legislation of the Russian Federation, on the terms determined by corresponding agreements of the parties.
About Reyestr A-Plus:
The registrar CJSC Reyestr A-Plus has been in business since May 1996. It is currently an organization with the head office in Novosibirsk and 10 branch offices in Arkhangelsk Region, Krasnoyarsk Territory, Republics of Yakutia (Sakha) and Altay, Moscow, Nizhnevartovsk, Sochi, Perm, and two branches in Barnaul.
The company has been ranked 7th among Russia’s 50 registrars by the National Registrar Rating in 2006 carried out by PARTAD.
Reyestr A-Plus was recognized the Best Regional Registrar of the Year as a result of its participation in the contest “Infrastructural Institute of the Year – 2006”.
The company’s owned funds exceed RUR 41 million.
The insurance coverage under the professional liability insurance contract is USD 1.5 million.
For further information about Reyestr A-Plus: www.reap.ru, or telephone: (383) 218-76-77, 218-76-79, E-mail:
About NDC:
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, 95% conducted in the corporate and regional bond markets, and 90% of 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. In 2006 the value of assets in storage was RUR 3.3 billion, turnover was RUR 30.7 billion, and the total number of operations 1.9 million. 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 indexes. It is also a member of the international accounting infrastructure, providing settlements on the global financial markets using a direct account at Clearstream Banking S.A.
Among NDC's founders are Bank of Russia and MICEX (the founders' shares in the property are 46,7% и 39,3% respectively, and in the votes 50,2% and 42,3% respectively). Members include Bank of Moscow, Sberbank, International Moscow Bank, JP Morgan Bank International, VTB Bank (Vneshtorgbank), Vneshekonombank, Rossiysky Credit Bank, Evrofinans Mosnarbank, Rosbank, Gazprombank, ING Bank Eurasia, and Deutsche Bank. The Partnership also has a stake in Depositary Clearing Company CJSC (36.96 %) and in Settlement Depository Company CJSC (29%).
For further information about NDC: www.ndc.ru, or NDC press service: +7 495 232 0910, .