The National Depository Center (NDC), Russia's only settlement depository servicing the full range of Russian securities, announced today that Russia's Top 30 Depositories Ranking for 2007, published by the Infrastructure Institute Foundation, has confirmed NDC’s position as the largest Russian settlement depository.
Based on market value of securities on deposit, NDC serviced 60% of all securities on deposit among settlement depositories in Russia or RUR5.33 trillion as of Dec. 31, 2007, where market value is calculated using the formula developed by Russia's Federal Financial Markets Service (FFMS).This is twice the share of the next largest depository. NDC’s market share based on the market value of joint stock company shares on deposit for 2007 increased to 32% or RUR1.6 trillion (compared with 29% or RUR1.14 trillion for 2006).
Nikolay Egorov, Director, NDC, said: “NDC’s maintenance of the leading position as Russia’s biggest settlement depository based on market value of securities on deposit and on securities transferred in the course of inventory operations is attributable to NDC’s consistent policies of service expansion, implementation of new technologies, optimization of the company’s tariff policy, reduction of risks, increase of financial stability and improvement of NDC’s corporate governance system.”
About Russia's Top 30 Depositories Ranking:
Russia's Top 30 Depositories Ranking (http://www.safedepo.ru/top30_dep.php) is issued by the Infrastructure Institute Foundation. It is prepared on the basis of data provided by the Professional Association of Registrars, Transfer Agents and Depositories (PARTAD) for 2007. This is a list of Russia's biggest depositories including settlement, custodial and specialized depositories ranked on the basis of market value of securities on deposit as of 31 December, 2007. The method of calculation of market value has been developed by Russia's Federal Financial Markets Service (FFMS).) providing for all securities (shares, bonds and units of unit investment trusts) to be assessed on basis of their market value.
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 АА- rating as a central depository which means very low level of risk. For 1H 2008 the value of assets in storage was RUR4.4 trillion. NDC is the largest paying agent on behalf of corporate bond issuers. It is Russia's national numbering agency, and 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, the NDC of the Republic of Azerbaijan and the Republican Central Depository of Securities (Republic of Belarus).
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, 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%), in Settlement Depository Company CJSC (28.54%) and in Bank "National Clearing Centre" CJSC (0.67%).
For further information about NDC: www.ndc.ru, or NDC Public Affairs Department: +7 495 232 0910, .