According to the decision taken by the General Meeting of the members of the Not-for-Profit Partnership "The National Depository Center" (NDC) held on the 27 October 2005 service fee for processing of electronic documents using NDC EDI system (for customers not using any other NDC services) will be reduced by 20% and will total to 720 rubles (not including VAT) a month.
NDC shows strong commitement to the provision of high quality services to its participants at possible decrease of the tariff burden on NDC Clients, in particular:
From October 1, 2005 fees for safekeeping of the government, municipal and corporate bonds have been reduced by 5% in all lines of the regressive fee scale, while for big portfolios (over RUB 50 billion) the fees have been reduced by 7%. The fees for NDC Clients, - settlement depositories, - have been reduced to the maximal level of the regressive fee scale applicable to the clients that are not settlement depositories.
From April 1, 2005 fees for safekeeping of the government, municipal and corporate bonds have been reduced by 5% in all lines of the regressive fee scale, while for big portfolios (over RUB 50 billion) the fees have been reduced by 7%. The fees for the NDC Clients, - settlement depositories, for safekeeping of shares and assets, deposited at international depositories, have been reduced by 10%.
From April 1, 2005 cost of most procedures for processing of electronic documents using NDC EDI system is covered by charges for NDC basic services. According to NDC marketing policy EDI system participants, who are also NDC clients, are not charged for electronic documents processing.
From January 1, 2004 fees for safekeeping of shares of Russian issuers and assets, deposited at international depositories, have been cut in half; fees for safekeeping of the government, municipal and corporate bonds have been reduced by 5%; charges for safekeeping and processing of unit investment funds, processing of corporate actions and information have been abandoned. Number of paid positions for inventory operations have been cut in half.