MOSCOW - The National Depository Center (NDC), Russia’s only settlement depository servicing the full range of Russian securities, announces that its leadership among Russia’s settlement depositories has been confirmed by a newly compiled industry ranking entitled “Russia’s 30 Largest Depositories”. NDC’s share calculated on the basis of the value of securities on deposit for 2006 reached 54% or RUR 3.34 trillion. This is double the share attributable to the second largest settlement depository in the ranking.
Nikolai Egorov, Director, NDC, said: “The outlook for increased market value of Russia’s depositories assets and growth of operational volumes in many respects depends on success in the improvement of Russian infrastructure and growth of Russian market competitiveness in general. Strategically, NDC’s efforts are focused on increasing the volume of shares on deposit. For instance, in 2006, the market value of shares on deposit with NDC rose 70%, and for the first half of 2007, the rate of growth of the number of securities on deposit with NDC rose 28.4% in comparison with average rate of growth in the Russian market, and growth rate for the number of shares on deposit with NDC rose 29.1%. We propose the best conditions for long term deposit of securities, when shares can enter MICEX stock exchange in real time. NDC is expanding the range of its services, optimizing tariff policy, decreasing the risks and increasing financial stability. Increased efficiency in interactions with custodial depositories and registrars also is very important – the implementation of electronic document exchange and speeding up of securities transfers allows business to be conducted rationally when the market is constantly growing.”
“Russia’s 30 Largest Depositories” is prepared jointly by the Infrastructural Institute’s Financial Research Development Foundation (INFI) and the Professional Association of Registrars, Transfer Agents and Depositories (PARTAD) in order to rate Russian depositories and specialized depositories on a national scale. The top 30 depositories for 2006 are ranked by market value of securities on deposit as of 31 December, 2006. The calculation is made in accordance with the method employed by Russia’s Federal Service for Financial Markets (FSFM) which is based on market value of shares, bonds and Unit Investment Trusts (UITs).
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 market of the Bank of Russia, 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% sub-federal and municipal bond issues. The international rating agency Thomas Murray has assigned NDC an A+ rating as a central depository. In 2006 the value of assets in storage was RUR 3.3 billion, turnover was RUR 30.7 billion, and the total number of operations 1.9 million. NDC is the largest paying agent on behalf of corporate bond issuers. It is Russia's national numerating agency, 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 a direct account at Clearstream Banking S.A.
Among NDC’s founders are Bank of Russia and MICEX CJSC. Members include Bank of Russia, MICEX CJSC, OJSC Bank of Moscow, Sberbank, International Moscow Bank, JP Morgan Bank International LLC, Vneshtorgbank OJSC, Bank Rossiysky Credit OJSC, Evrofinans Mosnarbank OJSC, Rosbank, Gazprombank CJSC, ING Bank Eurasia CJSC and Deutsche Bank LLC. Recently Vneshekonombank was approved as a new member. The Partnership also has a stake in CJSC Depositary Clearing Company (36.96 %) and in CJSC Settlement Depository Company (29%).
For further information about NDC: www.ndc.ru, or NDC press service: +7 495 232 0910, .