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 Registrator KRC CJSC (KRC) 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.
KRC 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 KRC, on the basis of electronic data. Paper copies of the electronic documents will only be provided where required by current legislation of the Russian Federation, on terms determined by corresponding agreements of the parties.
National Settlement Depository (NSD) is the largest settlement depository in Russia, a part of the Moscow Exchange 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.
For further information about NSD: http://www.nsd.ru/ , or NSD Public Affairs Division: +7 495 232 0910,
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KRC is a specialized registrar authorized by Russia's Federal Property Management Agency for maintenance of registers of joint stock companies owned by the state (Agreement # 01-5/221 dated 30 March 2001). The company was founded on 1 March 1996; it provides full package of registration services in securities market (license # 10-000-1-00279 for maintenance of register issued by Russia's FFMS on 24 December 2002).
KRC's activities are insured by the Yugoriya State Insurance Company OJSC; the insurance cover amounts to RUB3 million.
The company maintains registers of registered securities holders using the software developed by Eldis Soft CJSC (Zenit-R. Office, Zenit-R-Branch).
For further information about KRC:http://www.regkrc.ru/, tel. +7 861 220 4278, +7 861 220 70 25.