NDC Reports Results of Its BoD Meeting

02 March 2010
Print version

MOSCOW – "The National Depository Center" (Closed Joint Stock Company) (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, reports that on 2 March, 2010 a meeting of the company's Board of Directors took place.

The Board of Directors included the following persons proposed by NDC shareholders into a list of the candidates for NDC's new Board of Directors for voting at NDC's AGM in 2010:

Eddie Astanin Director General, NDC
Mikhail Bratanov Director of Depository, ROSBANK (OJSC JSCB)
Yuri Dubin Director of Depository, Sberbank
Alexander Ikonnikov Managing Partner of Board Solutions,
Chairman of Supervisory Board, Co-Founder, Independent Directors Association
Konstantin Korischenko President, MICEX
Sergei Lykov Member of the Management Board, Deputy Chairman, Vnesheconombank
Natalia Sidorova Head of Depository Services Department, ING BANK (EURASIA) ZAO
Sergey Sukhinin Chairman of the Board Executive, MICEX SH
Vladimir Tatsiy First Vice President, GPB (OJSC)
Tatiana Fomina Chief of Financial Market Operations Directorate in the Banking Operations Department, ZAO UniCredit Bank
Tatiana Chepeleva Project and Development Director, OTKRITIE Brokerage House JSC
Alexander Scheglov General Director, Investment Company “ZERICH Capital Management” OJSC
Andrei Yumatov Vice President responsible for Investment Unit, JSC VTB Bank

The Board of Directors included the following persons proposed by NDC shareholders into a list of the candidates for NDC's new Audit Committee for voting at NDC's AGM in 2010:

Olga Gordienko Chief Accountant, MICEX
Vladislav Zimin Economic Advisor, Market Services Department, Bank of Russia
Mikhail Lomakin Chief of Specialized Depository Services Department in the Depository Services Directorate, ZAO UniCredit Bank
Vyacheslav Ulupov Director, Internal Audit Service, Vnesheconombank
Yuri Yukin Chief of Internal Audit Service, Evrofinance Mosnarbank

The Board of Directors made decision on early termination of the powers of Larisa Gorbacheva, member of the Committee for Risk and Audit of the Board of Directors, NDC. In accordance with JSC VTB Bank’s request of 26 January, 2010, Svetlana Kamasheva, Director, Investment Unit, JSC VTB Bank, was elected a new member of the Committee, replacing Ms. Gorbacheva.

The Committee for Risk and Audit of NDC's Board of Directors now includes the following persons:

Veronica Vasilyeva Deputy General Director responsible for Operating Issues, Computershare LLC
Chairperson of the Committee for Risk and Audit of the Board of Directors, NDC
Mikhail Bratanov Director of Depository, ROSBANK (OJSC JSCB)
Irina Glazkova Head of Internal Audit Service, MICEX
Svetlana Kamasheva Director, Investment Unit, JSC VTB Bank
Vladislav Zimin Economic Advisor, Market Services Department, Bank of Russia
Yana Postovskaya Director of Internal Audit Department, ZAO UniCredit Bank
Nikolai Chemodurov Head of Directorate for Analysis and Control of Depository Operations, GPB (OJSC)

NDC's directors elected Elena Gusalova, Managing Director, New Products Development Department, Investment Unit, JSC VTB Bank, a member of NDC's Budget Committee following JSC VTB Bank's request dated 11 February, 2010.

The Budget Committee of NDC now includes the following persons:

Galina Shubina Deputy Chief of Depository, JSC VTB Bank
Chairperson of the Budget Committee, NDC
Ivan Bolshakov First Vice President, Deputy Chairman of the Management Board, Evrofinans Mosnarbank
Elena Gusalova Managing Director, New Products Development Department, Investment Unit, JSC VTB Bank
Vladislav Zimin Economic Advisor, Market Services Department, Bank of Russia
Andrei Ponomarev Deputy Chief of Liquidity and Treasury Operations Department, Sberbank
Vadim Subbotin Vice President and member of the Managing Board, MICEX
Vladimir Tatsiy First Vice President, Head of Depository Center, GPB (OJSC)
Tatiana Chepeleva Project and Development Director, OTKRITIE Brokerage House JSC

NDC's Board of Directors took into consideration recommendations by the Committee for Technological Policy and Development. NDC's directorship was authorized to prepare proposals on development of services and products related to settlements on securities given planned integration of NDC with MICEX SH, and to present them to NDC's Board of Directors.

The company's Board of Directors decided to cancel a tariff in the form of RUB7,200 monthly subscriber fee for provision of web interactions through Luch Online system and Web Access. The tariff established in accordance with the Board of Directors' decision (protocol 5 dated 30 June, 2009) is to be canceled after completion of a promotional period. The Board of Directors decided to retain existing four ways of electronic interactions: through email, Luch Online, Web Access and SWIFT. The participants of NDC's EDI will have right to choose the most convenient way of interaction or to combine few methods of interaction with NDC. The company's directors decided to consider an issue of establishing of a tariff for provision of web interactions via Luch Online and Web Access in the course of development of tariffs of a settlement depository which is to be formed by means of integration of NDC and MICEX SH.

NDC's Board of Directors came to a decision to conclude a preliminary sale and purchase agreement with DCC for a sale of DCC's shares by NDC. NDC's Director General was authorized to hold all necessary actions necessary for conclusion of such an agreement.

NDC's directors considered information about candidates for SDCO CJSC's Board of Directors, namely Konstantin Korischenko, President, MICEX, and Vladimir Gusakov, Vice President, Member of the Management Board, MICEX.

The Board of Directors also approved Regulations on NDC's Temporary Surplus Funds Management; the directors took into consideration information related to integration of NDC and MICEX SH as well as MICEX Group's Asset and Liability Management Policy.

NDC's Board of Directors considered a report by Deputy General Director – Controller for 4Q 2009. The Board authorized the company's Director General to take appropriate measures to implement recommendations included into the report, and also considered few other issues.

About NDC

"The National Depository Center" (Closed Joint Stock Company) is the largest settlement depository in Russia, servicing the full range of debt and equity securities of Russian issuers. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, and more than 99% of stock exchange transactions with equities and OTC trades. The international rating agency Thomas Murray has assigned NDC an АА- rating as a central depository. NDC is Russia's national numbering agency, and the substituting numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.

Among NDC’s shareholders are MICEX (50,1727% of shares), Bank of Russia (42,2997% of shares) as well as GPB (OJSC) (Gazprombank), Evrofinance Mosnarbank, “ROSBANK” (OJSC JSCB), JSC VTB Bank, Bank of Moscow, JSC «ROSSIYSKIY KREDIT BANK», Vnesheconombank, “ING BANK (EURASIA) ZAO”, CB “J.P. Morgan Bank International” (LLC), ZAO UniCredit Bank, Deutsche Bank Ltd, and Sberbank. NDC has stakes in Depository Clearing Company CJSC (37.29%) and in Settlement Depository Company


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

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