NDC became a member of the European Central Securities Depositories Association

23 January 2006
Print version

On 20 January 2006 the General Meeting of the European Central Securities Depositories Association (ECSDA) approved the NDC application for full membership and nominated NDC’s Director to the Board of Directors of the Association.

This decision shows an acknowledgement of the Russian stock market infrastructure organizations as a part of European financial community and could be regarded as an evidence of the interest in development and strengthening of cooperation between Russian and European companies. The membership in ECSDA proves the leading role of NDC in the Russian stock market depository and settlement infrastructure.

Reference:

European Central Securities Depositories Association (ECSDA)

ECSDA was formed in 1997 in Madrid in order to provide a forum for CSDs to exchange views and take forward projects of mutual interest. ECSDA’s primary objective is to promote harmonization of market practices in Europe to support the creation of a singe European capital market. ECSDA offers solutions and provides advice on economic, financial, legal and regulatory matters to reduce risk and increase efficiency in pre-settlement, settlement and custody for securities and related payments across Europe.

ECSDA currently has 19 members in the geographical area of Europe, made up by 16 CSDs and three ICSDs (International CSDs), including Clearstream Banking, Euroclear, CRESTCo Ltd. In 2006 ECSDA merged with the Central and Eastern European Securities and Clearing Houses Association (CEECSDA) with its 13 full members and 5 associated members including the Depository-Clearing Company. All of the CEECSDA members joined the new association.

Currently ECSDA promotes common standards to remove existing cross-border barriers identified in Giovannini and Group of 30 reports.

Not-for-profit partnership “The National Depository Center” (NDC)

Not-for-profit partnership “The National Depository Center” was established in January 1997 by the Bank of Russian and Moscow Interbank Currency Exchange. Later on the biggest market players became NDC partners, bringing along market-ownership and market-governance.

NDC on the Russian stock market:

  • Settlement depository of the major Russian exchanges: Moscow Interbank Currency Exchange (MICEX), MICEX Stock Exchange (MICEX SE), the St. Petersburg Currency Exchange (SPCEX), Siberian Interbank Currency Exchange (SICEX);
  • acts as a central depository holding global certificates and providing custody for 100% of government bonds, more than 99% of corporate, more than 90% of subfederal and municipal bonds.
  • member of the Association of the National Numbering Agencies (ANNA) assigning ISINs (International Securities Identification Number) to domestic securities.  

NDC is the central link in the Russian stock market settlement infrastructure. As a settlement depository NDC services all types of domestic securities. Total volume of securities safekept at NDC exceeded 1.7 billion rubles. The number of securities issues accepted for servicing at NDC exceeded 1400. Shares of corporations account for 41% of total amount of issues, corporate bonds for 24%, government securities (including bonds of the Bank of Russian) for 19%, all other securities for 16%.

Ask question
— Mandatory fields
 
Обратная связь
— Mandatory fields
 
Send your request and our specialists will contact you as soon as possible
— Mandatory fields