The National Depository Center (NDC), Russia’s only settlement depository servicing the full range of Russian securities, announced today the planned introduction of a new consulting service, creation of which was considered and approved by a meeting of the Board of Directors Feb. 7.
The service will provide support for NDC customers in their contacts interactions with the national numerating agencies of other countries in the qualification of financial instruments as securities. NDC’s Board established a tariff for this support for the acquisition of CFI codes in the amount of RUR 3,400 excluding VAT per financial instrument. Additional expenses incurred by NDC are to be reimbursed by NDC customers based on the tariffs charged by the foreign numerating agency. It is noteworthy that to date NDC has received and processed requests for qualification as securities more than 6,000 financial instruments issued by foreign issuers.
The date for the new tariff to come into effect will be announced to customers at a later stage.
NDC’s Board has also reviewed a report provided by NDC’s Internal Control Department for the fourth quarter of 2007 and has authorized NDC’s Director to take necessary measures in order to implement the report's recommendations.
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, 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 A+ rating as a central depository. For 2007 the value of assets in storage was more than RUR4.3 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 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 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 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 of Russia. The Partnership also has a stake in Depository Clearing Company CJSC (36.96 %) and in Settlement Depository Company CJSC (29%).
For further information about NDC: www.ndc.ru, or NDC Public Affaires Department: +7 495 232 0910, .