The National Depository Center (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, today released the results of a meeting of its Board of Directors held 30 June.
The Board approved a tariff for a new service to be provided for EDI. The new NDC approach to the transmission of electronic documents uses modern Web applications and Internet protocols with guaranteed on-line delivery of electronic messages. The new service is being implemented through NDC participant work stations which will be able to access the system with a web browser and LUCH optional plug-in software. The new tariff is expected to be imposed to the clients, using on-line options, starting November 30, 2009 after a promotional period. The tariff for the new service will be RUB 7,200 per month.
The promotional period will be to advertise the new services and to allow time for full integration of the services into the internal automated systems of EDI participants.
The new service will not replace current NDC communications channels. It will provide guaranteed order delivery, allow EDI participants to control order status and offer fast access to information on securities balance.
The Board of Directors also considered a report by NDC Internal Control Department for 1Q 2009 and authorized NDC's Director to take appropriate measures on implementation of the Department's recommendations.
The Board of Directors also selected Deloitte & Touche CIS to conduct the IFRS audit for 2009.
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 (OJSC JSCB), JSC VTB Bank (Vneshtorgbank), Bank of Moscow, JSC Rossiyskiy Kredit Bank, Vnesheconombank, ING Bank (Eurasia) ZAO, JP Morgan Bank International LLC, ZAO UniCredit Bank, 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 Division: +7 495 232 0910, .