NDC Presents Second Book in Series on Russia's Stock Market History

12 December 2007
Print version

The National Depository Center (NDC), Russia’s only settlement depository servicing the full range of Russian securities, along with ANO Economicheskaya Letopis Publishing House, Irkol CJSC and Registrar NIKoil OJSC today presented the second volume of their "History of the Russian Stock Market: Depositories and Registrars." The new volume, part of a broader series entitled “Russia’s Economic Chronicle”, is devoted to Andrei Kozlov and Galina Starodubtseva.

As Chairman of NDC's Board and First Deputy Chairman of the Bank of Russia, the late Andrei Kozlov, was the mastermind behind this project in 2006 prior to his death. The late Galina Starodubtseva, founding Director of NDC, was also a leading contributor to the development of the Russian stock market.

Nikolai Egorov, Director, NDC, said at the presentation of the second volume: "In 2006 NDC, Russia's biggest settlement depository, initiated the writing of a chronicle of the formation of Russia's stock market infrastructure. We are happy that the authors, Nikolai Krotov and Oleg Nikulshin, have supported our idea. They managed to find and write interesting facts described in interviews with professionals who took part in the formation and restructuring of the domestic system of securities' accounting, trading and settlement. The first volume in the series 'History of the Russian Stock Market: Depositories and Registrars' was published in early 2007 and was received positively by audiences in Russia and abroad. It is wonderful that we have now issued a second book supported not only by NDC but also by our registrar colleagues. And of course this project was completed with the help and contributions of many stock market professionals who found time to share their memories with us. Through these joint efforts we have succeeded in presenting to a broad audience interested in stock market issues an opportunity to research the chronology of the development of Russia's infrastructural institutions."

Vladislav Moskalchuk, General Director, Irkol CJSC, said: "Despite of the fact that depository and registrar operations are considered highly specialized and difficult for people who are not familiar with stock market to understand, practice has shown that the 'History of the Russian Stock Market' is quite interesting for a wide circle of readers. We hope that this joint work of many people will contribute not only to an understanding of the role of the infrastructure sector in guaranteeing the property rights of securities' owners and improvement of information awareness, efficiency and convenience of investors but also in increasing the investment attractiveness of Russian stock market."

Maxim Kalinin, General Director, Registrar NIKoil OJSC, added: "The idea to write and then publish recollections of how the domestic stock market was formed and developed emerged in the minds of those people who not only were the participants in these events but also made them happen. One can say that our company was among the very first founders of Russia's stock market. In early 2008, we will celebrate the 15th anniversary of our company. Nikolai Krotov and Oleg Nikulshin suggested we take part in the writing of a history of stock market. They asked us to share our memories, to talk about events in the market in which we took part and which we witnessed. Recognition of Registrar NIKoil as a real contributor in the formation of the Russian stock market is a great honor for us."

Among the participants at the book presentation held at the Moscow House of Journalists were the heads of many companies and experts who were present at the very start of the domestic stock market's development. The authors of the book used their own recollections and interviews with others to describe the 15-year history of the formation and development of Russian stock market.

About “Russia’s Economic Chronicle” The “Russia’s Economic Chronicle” series is published by ANO Ekonomicheskaya Letopis Publishing House. The series is a collection of memoirs which present a history of various events in Russia's economic life through the testimony of a number of witnesses. Their memories are supplemented with archival material and the results of the authors' own research. More information about Russia's Economic Chronicle may be found on the web site www.letopis.org, tel. +7(495) 50-777-20, e-mail:

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 and the Bank of Russia bond markets, 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% of sub-federal and municipal bond issues. The international rating agency Thomas Murray has assigned NDC an A+ rating as a central depository. For the first nine months of 2007 the value of assets in storage was more than RUR4 trillion, securities turnover was more than RUR40 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 indexes. 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 are 46,7% and 39,3% respectively, and in the votes 50,2% and 42,3% respectively). Members include Gazprombank, Evrofinans Mosnarbank, Rosbank, VTB Bank (Vneshtorgbank), Bank of Moscow, Rossiysky Credit Bank, Vneshekonombank, ING Bank Eurasia, JP Morgan Bank International LLC, International Moscow Bank, Deutsche Bank, and Sberbank of Russia. The Partnership also has a stake in Depositary Clearing Company CJSC (36.96 %) and in Settlement Depository Company CJSC (29%).

About Irkol

CJSC Irkol CJSC renders services related to the maintenance of registers for securities and unit investment trusts (license # 10-000-1-00250 issued 9 August, 2002 by the Federal Committee for Securities of the Russian Federation). Irkol maintains the registers of joint stock companies and unit investment trusts on behalf of more than 1 million registered persons. Irkol is an authorized registrar of Russia's Ministry of Property, a Member of Professional Association of Registrars, Transfer Agents and Depositories (PARTAD). The company has operated in the Russian market for 15 years. It services 1.4 billion accounts, and maintains the registers of more than 500 joint stock companies and 53 unit investment trusts. For further information about Irkol CJSC: www.ircol.ru

About Registrar NIKoil

OJSC Registrar NIKoil OJSC is one of Russia's biggest registrars specializing in maintenance of the registers for securities and unit investment trusts (license #10-000-1-000290 issued 17 June, 2003 by Russia's Federal Service for Financial Markets). The company has served major Russian issuers since 1993. Registrar NIKoil is one of the leaders in the Russian market. Currently the company maintains the registers of approximately 900 companies with more than 1 million owners of securities. Among the company's main shareholders are Uralsib Financial Corporation and COMPUTERSHARE, the biggest global registrar operating in the US, Canada, the UK, Australia and other countries. For further information about Registrar NIKoil OJSC: www.rcnikoil.ru,


For further information about NDC: www.ndc.ru, or NDC Public Affaires Department: +7 495 232 0910, .

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