NDC’s Revised System for Risk Mitigation Measures Approved

29 April 2005
Print version

On 22 April 2005, NDC’s revised System for Risk Mitigation Measures in Depository and Clearing previously accepted and recommended for adoption by the NDC’s Risk Management Committee was approved by the NDC Director.

The new version of the System for risk mitigation takes into account the proposals of the NDC’s Risk Management Committee referring risk minimization within the System of Electronic Document Interchange (EDI), reflects the provisions set forth by the new legal regulatory acts, and more completely discloses NDC’s successful experience in risk management.

The list of documents describing the NDC’s System for Risk Mitigation Measures in Depository and Clearing has been significantly revised and expanded, now incorporating the NDC’s innovations in risk management, specifically:

  • The list of the risks and the description of the risks related to NDC’s professional activities on the securities market has been specified;
  • The results of implementation of surveyor inspection’s recommendations for NDC have been reflected;
  • Measures for risk management associated with overlapping of depository and clearing activities have been itemized;
  • A special Section addressed to the risk mitigation measures in electronic document interchange (EDI) has been inserted;
  • The list of measures for risk mitigation in interaction with registrars has been extended and detailed;
  • Risk management procedures relating to securities safe-keeping in the ‘Securities Suspense Account’ have been improved;
  • Procedures for conclusion of agreements on securities deposit accounts and acceptance of securities for servicing at NDC have been changed.  
Special attention paid by NDC to risk management allows ensuring high level reliability and stability of NDC’s professional activities.
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