MOSCOW - The National Depository Center (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, today announced the results of a Board of Directors meeting.
NDC’s Board, meeting Tuesday, Feb. 10, approved proposed changes in the Provision for NDC’s Committee on Innovations, Technologies and Products amending the name to the Committee on Innovations and Products. The Board also approved the planned expansion of the list of organizations whose representatives may be elected to the Committee and an increase in the committee’s membership to a maximum 12 persons. The Board also approved a new version of the Provision for NDC’s Committee on Innovations and Products.
The company’s directors agreed to the early termination of the powers of the following Committee members at their request: Pavel Burov, Deputy Chief of Treasury, GPB (OJSC), and Valery Golovanov, Director of Corporate Debt Financing Department, “NOMOS-BANK” (Open Joint-Stock Company). The Board elected three new members of the Committee: Dmitry Ishutin, Deputy Chairman of Depository Services Department, ING Bank (Eurasia) CJSC; Irina Smyslova, Head of Methodology, Reporting and Control Directorate in the back office, OJSC “URALSIB”; and Konstantin Volkov, President of National Securities Market Association (self-regulatory non-commercial organization).
Accordingly, NDC’s Committee on Innovations and Products now includes the following members:
| 1 | Maria Ivanova |
Director for Development, NDC |
| 2 | Tatiana Chepeleva |
Project Director, OTKRITIE Brokerage house JSC |
| 3 | Konstantin Volkov | President of National Securities Market Association (self-regulatory non-commercial organization) |
| 4 | Polina Goloschapova | Head of Operations Department, Bank Credit Suisse (Moscow) CJSC |
| 5 | Dmitry Ishutin | Deputy Chairman of Depository Services Department, ING Bank (Eurasia) CJSC |
| 6 | Anna Kuznetsova | Deputy General Director, MICEX Stock Exchange |
| 7 | Igor Marich | Vice President, MICEX |
| 8 | Irina Smyslova | Head of Methodology, Reporting and Control Directorate in the back office, OJSC “URALSIB” |
| 9 | Elena Tchaikovskaya | Head of Department for Financial Market Regulation and Development, Bank of Russia |
NDC’s Board of Directors approved a draft Charter for NDC, the joint stock company into which NDC is to be reorganized. The Board also decided to forward the draft Charter to NDC members in accordance with the plan of reorganization into a joint stock company for 1Q 2009.
The Board of Directors took into consideration a report for 4Q 2008 by NDC’s Internal Control Department and authorized NDC’s Director to take the necessary measures to implement the recommendations included in the report.
About NDC
Not-for-Profit Partnership “The National Depository Center” is the largest settlement depository in Russia, servicing the full range of debt and equity securities of Russian issuers. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, and more than 99% of stock exchange transactions with equities and OTC trades. The international rating agency Thomas Murray has assigned NDC an АА- rating as a central depository. NDC is Russia's national numbering agency, and the substituting numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.
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, Vnesheconombank, ING Bank Eurasia, JP Morgan Bank International LLC, UniCredit, Deutsche Bank, and Sberbank. The Partnership also has stakes in Depository Clearing Company CJSC (37.29%), in Settlement Depository Company CJSC (28.54%) and in Bank "National Clearing Centre" CJSC (0.27%).
For further information about NDC: www.ndc.ru, or NDC Public Affairs Department: +7 495 232 0910, .