MOSCOW - National Settlement Depository (NSD), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, continues to focus on improvement of its corporate governance practice and to discuss directions of the settlement depository's development with its major customers and contractors.
The Supervisory Board of the company at the meeting held 22 April approved amended Regulations for User Committees (the Committee of Settlement and Depository Activities and Tariffs, the Quality Control and Risk Management Committee, and the Committee of Interactions with Registrars and Depositories) providing opportunity to nominate candidates to chairmen of the respective committees from among non-members of NSD's Supervisory Board.
The members of the Supervisory Board also considered NSD's current operating results, a report on 1Q 2011 budget implementation and a report by NSD's Deputy Director General - Controller for 1Q 2011, and reviewed other issues.
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,