MOSCOW (RNWire) - The National Depository Center (NDC), Russia's only settlement depository servicing the full range of Russian securities, announced today that Nikolay Egorov, NDC’s Director, has been elected to the Board of Directors of Joint Stock Company “Moscow Central Depository”. The election took place at an extraordinary meeting of Moscow Central Depository's shareholders held July 1. The Board of Directors of the company now includes eight members, six of whom are independent directors.
About Nikolay Egorov
Nikolay Egorov was appointed NDC Director on 14 December, 2004. He is a graduate of the Moscow Engineering and Physical Institute. In 1992-1996, he worked at MICEX as Head of the IT Department, Technical Director and Deputy General Director, and was responsible for the unified electronic trading depository system. Until June 1999, Mr. Egorov was Deputy Chairman of the Central Bank of Russia. He was responsible for IT, telecommunications departments, and controlled activities of the Main and Inter-Regional IT Centers, Technical Center, Center of Satellite Telecommunications. In addition, he was responsible for the Bank’s IT system development, development of data bank collection and processing of the information. In June 1999-April 2003 he was Deputy General Director for IT Issues, Aeroflot. On 29 April, 2003, he was appointed First Deputy General Director, MICEX. On 14 October, 2005, he was appointed Senior Vice President, Member of the Board, MICEX.
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%).
About Joint Stock Company “Moscow Central Depository”:
Joint Stock Company “Moscow Central Depository” has operated in the domestic stock market since 1994. Currently the company services more than two million accounts of the owners of securities of major Russian companies. Moscow Central Depository JSC's clients include Federal Grid Company of Unified Energy System, JOINT-STOCK COMPANY, JSC “RusHydro”, KAMAZ Incorporated, JSC “AVTOVAZ”, Tupolev PSC, JSC “Sukhoi Design Bureau”, «Motovilicha plants» stock corporation., VSMPO-AVISMA Corporation, Open Joint-Stock Company “Wimm-Bill-Dann-Foods”, JSC “The Seventh Continent”, “MDM-BANK”, Russian Bank of Development CJSC, and “Joint Stock Company “Russian Railways” subsidiaries and affiliates. Moscow Central Depository JSC also provides maintenance and storage of the registers for the owners of Troika-Dialog and Promsvyaz Unit Investment Trust units.