NDC Wins Tender to Provide Depository Services for Fund for Reform of Housing and Communal Services

16 June 2008
Print version

MOSCOW – The National Depository Center (NDC) has won an open tender for the provision of depository services to the Fund for Reform of Housing and Communal Services.    

According to the tender conditions, applicants were required to be legal entities possessing not less than five years of experience in the field of depository activity. For non-credit organizations participating equity required was at least RUR250 million. Overall value of securities in custody for applicants was not less than RUR 250 billion. Applicants were also required to have open depository accounts with the Euroclear Bank and/or Clearstream Banking systems.  

The winner was required to satisfy the following selection criteria: financial stability, and experience in the field of depository activity with assets in which the fund is allowed to invest. The pricing of proposals was also considered.

The signing of agreement with the winner of tender is scheduled to take place 30 days following the announcement of results.

Nikolay Egorov, NDC Director, said: “We guarantee reliable, technologically advanced services of custody, registration and settlement of securities belonging to the Fund for Reform of Housing and Communal Services. Cooperation with the Fund will have a stimulative effect on NDC as a clearing depository and for us this is one of the most important results of participation in the tender.”

About NDC (National Depository Center):

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 1Q 2008 the value of assets in storage was more than RUR4.2 trillion. NDC is the largest paying agent on behalf of corporate bond issuers. It is Russia's national numbering agency, the substituting numbering 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 (28.54%).


For detailed information about NDC activity see: www.ndc.ru, contact telephone of NDC press service is +7(495) 232-09-10, e-mail: .

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