MOSCOW - National Settlement Depository (NSD), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and Regional Independent Registrar Agency OJSC (RIR Agency), a specialist registrar, announced today their adoption of an electronic data interchange (EDI) system in their information interactions, following a trial.
The use of EDI will allow accelerated operations, reduced risks of error and fraud, increased operational efficiency and processing of securities owners' lists in the course of corporate actions and enhanced confidentiality in the course of information exchange.
RIR Agency will enter records of transactions made in customer accounts of NSD acting as a nominal holder and provide information on NSD’s customer accounts opened in registers, on the basis of electronic data. Paper copies of electronic data will only be provided where required by current Russian Federation legislation, on terms determined by corresponding agreements of the parties.
About NSD
National Settlement Depository (NSD) is the largest settlement depository in Russia, 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: www.nsd.ru , or NSD Public Affairs Division: +7 495 232 0910,
About RIR Agency
Regional Independent Registrar Agency OJSC (RIR Agency) was founded on 22 December, 1995 to provide full range of services related to maintenance and storage of inscribed stock owners' registers (license #10-000-1-00261 issued by Russia’s Federal Financial Markets Service for an unlimited term on 29 November, 2002). In March 2009 the company was reorganized by means of merger with R-Stinol OJSC, another Russia's registrar.
RIR Agency's authorized capital is RUB28.61 million; its internal funds calculated on basis of FFMS's method amounts to over RUB170 million.
RIR Agency is headquartered in Lipetsk; it has branches in Kirov, Livny, Orel, Tambov and Tula and representative offices in Bryansk and Smolensk. RIR Agency opened its branch in Moscow.
The company provides services to over 600 issuers and maintains over 400,000 customer accounts.