MOSCOW (RNWire) - The National Depository Center (NDC), Russia's only settlement depository servicing the full range of Russian securities, announced today the successful completion of testing of Business Continuity Plan at its backup office which has been held on 19 April 2008.
The company’s backup office is set up to provide support business continuity in the event of an disaster or other "force majeure" circumstance rendering NDC's head office unusable.
Use of the backup office along with continuous functioning of the company’s computing facilities is part of the company’s Business Continuity Plan.
The backup facilities are configured to implement a full complex of operations efficiently with minimal down time.
During the training session NDC staff executed complete range of business operations in the backup office. The session revealed NDC’s ability to fulfill its obligations to its clients in full should the company need to shift operations to the backup facility. The result of the training session confirmed the high reliability of NDC.
NDC will be holding regular training sessions in the backup office along with testing recovery capabilities at its backup computer center. Training and testing involving the backup computer center is already conducted regularly by NDC with participation by depositors.
The training session demonstrated that NDC is able to provide continuous operations either in case of force majeure situation with its computer facilities or if the head office will be inaccessible.
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 of NDC 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. 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, .