MOSCOW - National Settlement Depository (NSD), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and a registrar Center-Invest Registration Company CJSC (Center-Invest) have announced the full launch of an electronic data interchange (EDI) system in their information interactions on a paperless basis.
The use of EDI technology will allow accelerated document interchange and processing in the course of operations conducted in the registers of inscribed securities holders and in the depository record keeping system, decreased risks of error and fraud, increased operational efficiency and processing of securities owners' lists in the course of corporate actions and enhanced protection of confidential information.
Center-Invest will enter records of transactions made in customer accounts of NSD acting as a nominal holder and will provide information on NSD’s customer accounts opened in registers maintained by Center-Invest, on the basis of electronic data. Paper copies of the electronic documents will only be provided where required by current Russian Federation legislation, on terms determined by corresponding agreements of the parties.
National Settlement Depository (NSD) is the largest settlement depository in Russia, a part of the MICEX-RTS Group, servicing on-exchange and OTC transactions with all types of debt and equity securities of Russian issuers and providing settlement services to participants in financial markets of the Russian Federation.
NSD provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, the majority of transactions with equities and also services UIT units and securities of foreign issuers.
In accordance with agreements concluded between NSD and the Bank of Russia, NSD acts as a settlement center for the organized securities market.
NSD is Russia's national numbering agency and the substitute numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.
About Center-Invest RC CJSC
Center-Invest Registration Company CJSC (Center-Invest) is a specialized registrar operating on the basis of a license #№ 10-000-1-00300 issued on 2 March 2004.
For further information about Center-Invest: http://www.centr-invest.ru/, + 7 495 544 0311/12/13/15, +7 499 729 5471/5704,