MOSCOW - National Settlement Depository (NSD), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and ING Commercial Banking (legal name «ING BANK (EURASIA) ZAO»), the largest custodian in Russia providing a comprehensive range of custody services, announce expanding of a scheme of inter-depository interactions.
Starting 6 July, 2011, 44 companies are to be included in the list of issuers with shares circulated using Speedy Settlement Scheme (SSS). List of shares eligible for transfer via the SSS scheme between NSD and ING Commercial Banking is available at NSD’s web site.
The shares of Open Joint Stock Company “Wimm-Bill-Dann Foods” (WBD Foods) have been excluded from the list of issuers with shares circulated using Speedy Settlement Scheme (SSS). The exclusion is connected with a buyout of WBD Foods’ shares by Pepsi-Cola (Bermuda) Limited.
Thus the total number of issuers with shares admitted to circulation via SSS will reach 101.
Eddie Astanin, Chairman of the Executive Board, NSD, said: “Expansion of SSS operating features is NSD's reaction to the customers' growing demand for higher quality and speed of settlements on transactions. It became possible due to NSD's switch to more efficient technological platform in early 2011.”
Natalia Sidorova, Head Securities Services, ING Commercial Banking, added: “The Speedy Settlement Scheme was the first to appear in the market as a means of a bridge interaction between a settlement depositary (NSD) and a custodian (ING). It has been functioning for over three years, and the demand for settlements via SSS has been increasing with every subsequent year. I am sure that further expansion of SSS by matching the list of securities eligible for such settlement with NSD-DCC Bridge will certainly further contribute to the increased attractiveness of SSS for market participants.”
It is worth adding that the Speedy Settlement Scheme is successfully used by NSD and ING Commercial Banking since November 2007.
National Settlement Depository (NSD) is the largest settlement depository in Russia, a part of the MICEX 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 ING Group
ING Group is a global company of Dutch origin with a history that goes back 150 years. The Company provides a wide range of financial services, including banking and investment services, life insurance and trust management, to over 85 million customers in more than 40 countries around the world.
The ING brand brings together many well-known companies, with total Group assets 1,229 bln EUR(per March 31, 2011). ING Group took an impressive 12th place in the Forbes magazine Fortune Global List 500 in 2010 (the Company has an annual revenue of $163.204 mln) and is one of the twenty biggest financial institutions in Europe by market capitalization, according to Bloomberg.
About ING Commercial Banking
ING Group’s Commercial Banking business unit is today one of the leading foreign financial institutions in Russia, providing services to over 1,200 foreign and local corporate clients.
ING Commercial Banking has been operating in Russia since 1993 (legal name - “ING BANK (EURASIA) ZAO”). General License of the Central Bank of the Russian Federation No.2495.
ING Commercial Banking is a top-tier player in the leading international and Russian rankings. The Bank is one of the 10 top foreign banks in Russia, 5 leading market makers on the FX market, with a daily turnover of around 10% of the USD/RUB market. In addition, we are Top 3 in RUB deposit market, with daily trading volumes of over $1 bln and Top 3 MLA of syndicated loans in Russia.
ING Bank is also the largest custodian in Russia, with over $142 bln of client assets under custody (as of June 30, 2011).
Since the late 1980s, ING Commercial Banking in Russia has been one of the leading lenders to major Russian companies and global corporations operating in the Russian Federation. ING has a virtually unlimited capacity to provide general and structured finance services via its network of high-caliber specialists in Russia, Europe, America and the Asia – Pacific countries.
For further information about ING services in Russia, please visit www.ing.ru
For additional information, please contact Natalya Shtalenkova, ING Commercial Banking: +7 495 933 47 20,
For further information about NSD: www.nsd.ru , or NSD Public Affairs Division: +7 495 232 0910,