NDC is Authorized as a Substitute Numbering Agency to Allocate the International Securities Identification Numbers (ISIN) and Classification of Financial Instruments (CFI) in CIS Countries

19 July 2007
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MOSCOW - The National Depository Center (NDC), Russia’s only settlement depository servicing the full range of Russian securities, announced today that the Association of National Numbering Agencies (ANNA) has authorized NDC as a Substitute Numbering Agency (SNA) for the Commonwealth of Independent States (CIS).

The authorization follows a resolution on the matter by the ANNA annual meeting held on May 31 - June 1, 2007 in Vienna, and subsequent approval July 5-6, 2007 at an ANNA Board Meeting which approved the decision directing that it be reflected in the official documents of ANNA.

The ANNA General Meeting made the decision based on an official application by the Association of Central Depositaries of Eurasia (ACDE) which unites the Central Depositories of the CIS countries, about vesting of ACDE-countries SNA status to NDC, and reflecting the consent of all ACDE members that NDC fulfill the SNA functions for their countries.

Therefore, NDC becomes one of the four world organizations, along with Standard & Poorґs - CUSIP Service Bureau (USA), Telekurs Financial Ltd.  (Switzerland), and Wertpapier-Mitteilungen  (Germany) with the right to operate as Substitute Numbering Agencies in other countries where no NNA exists, or where existing NNAs do not have certain resources to fulfill NNA functions.

According to ANNA normative documents, NDC starts operating as SNA in the member-countries of ACDE after the relevant authorities of each member-country regulating its national markets formally give the Board of Directors of ANNA their official consent to authorize NDC to fulfill the SNA functions.

Reference:

According to ANNA normative documents, the Substitute Numbering Agency’s functions in any country may be carried on by the National Numbering Agency of another country that has the appropriate resources, and is approved by the official permission of the Association of National Numbering Agencies.

SNA functions include the following:

  • ·         allocation of International Securities Identification Numbers (ISIN) and Classification of Financial Instruments (CFI), issued and registered in the countries where no National Numbering Agency exists, or where existing NNA does not have certain resources to fulfill the complex of NNA functions;
  • ·         keeping the relevancy of the country’s national segment in the international ISIN and CFI database;
  • ·         regular reporting to ANNA of the ISIN and CFI allocation in the country where the other country operates as SNA.

SNA operation is temporary and secondary. Any organization of a country where the National Numbering Agency (NNA) of another country operates as SNA may address the Board of Directors of ANNA with an application to transfer the NNA functions for its country to it, at any time. The compulsory conditions for ANNA’s decision about such a transfer are the following: the national market regulation authority’s consent to this NNA functions transfer; the organization’s technical ability to fulfill the NNA functions listed above, including maintaining the relevancy of the local ISIN database and developing and proactive maintenance of ISIN- and CFI-guidelines on the national market.

About NDC:

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 market of the Bank of Russia, 95% conducted in the corporate and regional bond markets, and 90% of stock exchange share transactions. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, and 95% sub-federal and municipal bond issues. The international rating agency Thomas Murray has assigned NDC an A+ rating as a central depository. In 2006 the value of assets in storage was RUR 3.3 billion, turnover was RUR 30.7 billion, and the total number of operations 1.9 million. NDC is the largest paying agent on behalf of corporate bond issuers. It is Russia's national numerating agency, authorized to assign the international ISIN and CFI indexes. It is also a member of the international accounting infrastructure, providing settlements on the global financial markets using a direct account at Clearstream Banking S.A.

Among NDC’s founders are Bank of Russia and MICEX CJSC. Members include Bank of Russia, MICEX CJSC, OJSC Bank of Moscow, Sberbank, International Moscow Bank, JP Morgan Bank International LLC, Vneshtorgbank OJSC, Bank Rossiysky Credit OJSC, Evrofinans Mosnarbank OJSC, Rosbank, Gazprombank CJSC, ING Bank Eurasia CJSC and Deutsche Bank LLC. Recently Vneshekonombank was approved as a new member. The Partnership also has a stake in CJSC Depositary Clearing Company (36.96 %) and in CJSC Settlement Depository Company (29%).


 For further information about NDC: www.ndc.ru, or NDC press service: +7 495 232 0910, .

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