MOSCOW - The National Depository Center (NDC), Russia’s only settlement depository servicing the full range of securities issued by Russian issuers, reported today that on Wednesday, Aug. 6, it registered 29 gross settlement transactions with a value of RUR1.706 billion, a single-day record. Of the 29 deals, 26 were repo transactions with T+1 day and T+14 day terms, while the remainder represented negotiated deals.
Since 17 March, 2008, MICEX has offered a new service allowing transactions to be conducted and obligations fulfilled on gross settlement transactions through Delivery vs Payment (DVP) settlements in real time. This means that traders can now make settlements during the trading session.
The MICEX Group, which integrates the trading and the settlement systems on a unified technological platform, provides trading, settlement, clearing depositary and information services. The Group is comprised of the MICEX, the MICEX Stock Exchange, the National Mercantile Exchange, the MICEX Settlement House, the National Depository Center, the National Clearing Center, regional exchanges, etc. These organizations serve about 1,700 market participants including leading Russian banks and broker companies located in Moscow and Russia’s large financial and industrial centers.
The MICEX Stock Exchange is the leading stock market in Russia, the CIS, and in Central and Eastern Europe. The volume of transactions concluded in 2007 reached US$4.2 trillion, and the average daily volume reached US$17 billion. The MICEX Stock Exchange is ranked 17th among the world’s stock exchanges based on the volume of exchange trading in corporate securities. The Exchange organizes trading in the securities of over 760 issuers whose total market capitalization is about US$1 trillion. The MICEX Group accounts for 98% of the total volume of trading in stocks on all Russian stock exchanges and over 70% of the global on-exchange volume of trading in Russian securities (including GDRs and ADRs).
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, .