The National Depository Center (NDC), Russia's only settlement depository servicing the full range of Russian securities, announced today that a meeting of its Board of Directors held 25 April approved the Director’s report on company operations for 2007, the company’s 2007 financial statements and the Audit Committee’s report on the company’s 2007 financial and operating results. The Board has also recommended that the General Meeting of NDC members approve these documents.
NDC’s Board approved implementation of a new RUR100 per operation tariff for the transfer of securities in gross settlement transactions. It was established that payment for the transfer of securities in gross settlement deals should be made by both the transferor and transferee.
The Board also agreed to roll out the trial SSS ("Speed-up Settlement System"), initially deployed with ING Eurasia, and to apply the same settlement tariff.
The Board also considered and recommended for approval by the General Meeting a report on the company’s profit and loss and capital expenditures and investments budgets for 2007. The Board also took into consideration information of an audit of the company’s financial statement for 2007 by Deloitte & Touche CIS CJSC. Amendments to the company’s profit and loss budget for 2008 were approved by the Board and recommended for approval by the General Meeting of members.
The Board also considered a report by NDC’s Internal Audit Department for 1Q 2008.
The Board reviewed information on the course of NDC's reorganization from not-for-profit partnership to joint stock company. It considered candidates for NDC’s Audit Committee, candidates for the Board of Directors of Depository Clearing Company CJSC and a number of other issues.
The Board approved the list of NDC Committee members.
Twenty-two representatives were elected to the company’s Depository Services Committee, 10 became members of the Risk Management Committee, 9 were named to the Technical committee, and 10 were elected to the Budget Committee.
The Board approved new provisions governing the Depository Services Committee mandating a membership rotation starting this year and limiting members to 22 persons. The Board also made provision for absentee voting.
NDC committees are the consultative bodies of NDC’s Board of Directors. They include securities market participants and are designed to collect views on various aspects of the market for further review by the Board.
Committee members include:
Depository Services Committee Members
|1||Yuri Dubin||Director, Depository, Sberbank|
Chairman of Depository Services Committee
|2||Sergei Virkunen||Deputy Director of Department for Operations Methodology and Inspection in the Directorate for Provision and Audit of Operations in Financial Markets, Central Bank of the Russian Federation|
Deputy Chairman of Depository Services Committee
|3||Denis Soloviev||Deputy Director, NDC|
Deputy Chairman of Depository Services Committee
|4||Alexander Artyukhin||Client Manager, Deutsche Bank LLC|
|5||Sergei Afonin||Deputy General Director responsible for audit, UBS Nominees CJSC|
|6||Mikhail Bratanov||Director of Depository, OJSC JSCB «ROSBANK»|
|7||Denis Garikov||Deputy Director of Business Development Department, MICEX CJSC|
|8||Vitaly Gerasyukov||Director of Depository, JSC "ROSSIYSKIY KREDIT BANK"|
|9||Dmitry Zaliznyak||Head of Depository Operations Department, JP Morgan Bank International LLC|
|10||Galina Karyakina||Executive Director, Antanta-Capital LLC|
|11||Galina Korotayeva||Chief Specialist, Depository, Bank of Moscow OJSC|
|12||Elena Kochemirovskaya||Head of Depository Operations Department, Evrofinans Mosnarbank OJSC|
|13||Elmira Kudryaeva||Head of Depository Services Department in the Depository Services Directorate, UniCredit Bank CJSC|
|14||Irina Mosenkova||Head of Depository Department, First Specialized Depository CJSC|
|15||Alexander Nazarov||Vice President, Deputy Head of Securities Department, Citibank CJSC|
|16||Boris Perlov||Head of Depository Operations Department, MDM Bank|
|17||Andrei Remnev||Director of Depository, Vnesheconombank|
|18||Elena Rubets||Head of Department for Settlements on OTC Operations, VTB Bank OJSC|
|19||Natalia Sidorova||Head of Depository Services Department, ING Bank Eurasia CJSC|
|20||Alexei Subbotin||Head of Depository, Alfa Bank|
|21||Marina Tikhomirova||Deputy Chief of Depository Center, Gazprombank OJSC|
|22||Anatoly Chekmarev||Director for Technologies, NDC|
Risk Management Committee Members
|1||Vladislav Zimin||Advisor, Directorate for Provision and Audit of Operations in Financial Markets, Central Bank of Russian Federation|
Chairman of Risk Management Committee
|2||Sergei Naumov||Deputy Director responsible for audit, NDC|
Deputy Chairman of Risk Management Committee
|3||Alla Antipova||Head of Department for Corporate Clients’ Credit Risks, Sberbank|
|4||Alexei Barbashov||Director for Risk Management, MICEX CJSC|
|5||Maria Krasnova||Head of Law Directorate, NDC|
|6||Oleg Labutin||Director of Financial Department, MICEX CJSC|
|7||Veronika Sorochkina||Leading Manager of Department for Depository Services’ Organization and Development, VTB Bank OJSC|
|8||Dmitry Spryskov||Director of Strategic Risk Department, UniCredit Bank CJSC|
|9||Tatiana Ulyanova||Deputy Chief of Department for Depository Services’ Organization and Development, VTB Bank OJSC|
|10||Nikolai Chemodurov||Head of Directorate for Analysis and Audit of Depository Activities, Gazprombank OJSC|
Technical Committee Members
|1||Georgy Volkov||Technical Director, NDC|
|2||Nikolai Degtyarev||Head of Department for Operations Methodology and Inspection in the Directorate for Provision and Audit of Operations in Financial Markets, Central Bank of Russian Federation|
|3||Alexei Dmitriev||Director of Technical Center, MICEX CJSC|
|4||Igor Zhelezny||Chief of Operating Department of Depository, Sberbank|
|5||Vadim Zakharchenko||Chief of Directorate for Depository Technologies Development, OJSC JSCB «ROSBANK»|
|6||Vyacheslav Mikhalkin||Deputy Director, Technical Center, MICEX CJSC|
|7||Sergei Pominov||Chief of Currency and Stock Market Operations and Investment Projects Group in the Department of Banking Technologies, VTB Bank OJSC|
|8||Anatoly Chekmarev||Director for Technologies, NDC|
|9||Olga Chernyshova||Chief of Directorate for Depository Business Technologies and Development, Gazprombank OJSC|
Budget Committee Members
|1||Vadim Subbotin||Vice President, Member of the Managing Board, MICEX CJSC|
|2||Irina Dukhina||Deputy Chief of Depository in the Directorate of Support of Bank Operations, Bank of Moscow OJSC|
|3||Vladislav Zimin||Advisor, Directorate for Provision and Audit of Operations in Financial Markets, Central Bank of Russian Federation|
|4||Zhanna Klimova||Chief Accountant, NDC|
|5||Irina Kuzetenko||Chief of Financial Directorate, NDC|
|6||Mikhail Lomakin||Deputy Director of Department for Depository Services’ Organization and Development, VTB Bank OJSC|
|7||Andrei Ponomarev||Chief of Treasury Client Services Department, Sberbank|
|8||Oksana Strakhova||Deputy Director, Depository, Vnesheconombank|
|9||Yuri Yukin||Vice President, Head of Internal Audit Service, Evrofinans Mosnarbank|
|10||Viktoria Yuryatina||Acting Chief of Financial Market Operations Department in the Directorate of Bank operations, UniCredit Bank CJSC|
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 2007 the value of assets in storage was more than RUR4.3 trillion. 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 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 stakes in Depository Clearing Company CJSC (36.96 %) and in Settlement Depository Company CJSC (29%).
For further information about NDC: www.ndc.ru, or NDC Public Affairs Department: +7 495 232 0910, .