MOSCOW - The National Depository Center (NDC), Russia’s only settlement depository servicing the full range of securities issued by Russian issuers, and The Republican Unitary Enterprise “The Republican Central Securities Depository” (Republic of Belarus) (RCDS) have signed a correspondent relations agreement.
RCDS has opened a correspondent account for NDC which allows NDC depositors to hold on deposit the securities of Belarus issuers and also to arrange settlements with the securities.
Previously, in April 2007, NDC and RCDS signed a Memorandum of Cooperation which covers interactions between the parties with regard to the exchange of information related to clearing, settlement and accounting systems of the Russian Federation and the Republic of Belarus, exchange of experience, consulting in the field of EDI and other co-operatives initiatives.
In accordance with the Law "About Depository Activity and the Central Depository of Securities in the Republic of Belarus", The Republican Unitary Enterprise “The Republican Central Securities Depository” (RCDS) is a state-owned organization and is obliged by the President of the Republic of Belarus to carry out the functions of a central depository for shares and bonds (other than government bonds).
With effect from January 1, 2008, RCDS is the central settlement depository for all types of securities issued in the Republic of Belarus.
Settlements for securities in Belarus’s depository system are conducted using EDI and electronic digital signature.
RCDS’s operations are supervised by the Department for Securities in the Ministry of Finance of the Republic of Belarus.
RCDS’s correspondent depository network included 37 second-level depositories, 11 of which are non-bank depositories. As of January 1,2008, RCDS services 2,938 issues of open joint stock company shares, 2,001 issues of closed joint stock company shares, 38 corporate bond issues, 12 bond issues of the National Bank of the Republic of Belarus and 106 state bond issues. A total of 5,095 securities issues are held on RCDS accounts with a total value of US$10.7 billion.
RCDS is Belarus’s national numbering agency authorized to assign ISIN and CFI codes to Belarusian issuers’ securities.
For further information about RCDS: www.centraldepo.by, +375 17 226 9097, +375 17 306 3222, +375 17 226 8300,
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 АА- rating as a central depository which means very low level of risk. For 1H 2008 the value of assets in storage was RUR4.4 trillion. NDC is the largest paying agent on behalf of corporate bond issuers. It is Russia's national numbering agency, and 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, the NDC of the Republic of Azerbaijan and the Republican Central Securities Depository (Republic of Belarus).
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, Vneshekonombank, ING Bank Eurasia, JP Morgan Bank International LLC, UniCredit, Deutsche Bank, and Sberbank. The Partnership also has stakes in Depository Clearing Company CJSC (36.96%), in Settlement Depository Company CJSC (28.54%) and in Bank "National Clearing Centre" CJSC (0.67%).
For further information about NDC: www.ndc.ru, or NDC Public Affairs Department: +7 495 232 0910, .