MOSCOW - National Settlement Depository (NSD), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and Sibir Registration Company CJSC (SRC) have announced their adoption of an electronic data interchange (EDI) system in their information interactions after a trial period.
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 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 confidentiality in the course of information exchange between two organizations.
SRC 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, 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.
For further information about NSD: www.nsd.ru , or NSD Public Affairs Division: +7 495 232 0910,
About Sibir Registration Company
Sibir Registration Company CJSC (SRC) was registered on 28 December, 1995 in Novokuznetsk to provide full range of services related to maintenance and storage of inscribed stock owners' registers (license #10-000-1-00315 issued by Russia’s Federal Financial Markets Service for an unlimited term on 16 April, 2004).
SRC is a member of the Professional Association of Registrars, Transfer Agents and Depositories (PARTAD).
The company provides services to over 566 issuers including Raspadskaya OJSC which shares are traded in MICEX and RTS. SRC has branches in Moscow, Novosibirsk, Ivanovo, Kemerovo, Barnaul, Mezhdurechensk, Yakutsk and Irkutsk.
SRC's equity calculated on basis of FFMS's method amounts to over RUB158 million.
The company’s professional risks are insured by Ingosstrakh Insurance Company with RUB100 million annual insurance cover.
For further information about SRC: www.zao-srk.ru