PARTAD and NSD Discuss Interactions between Registrar and Central Depository-Nominee Holder

24 February 2012
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MOSCOW - National Settlement Depository (NSD), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, took part in a meeting of the Committee for Registration Institutions' Procedural and Institutional Issues of the Professional Association of Registrars, Transfer Agents and Depositories (PARTAD) held 21 Feb.

Among the participants of the meeting were delegates of RNR Agency OJSC, DCC, SR-DRAGa CJSC, INFINITUM Special Depository OJSC, Irkol CJSC, CJSC “Computershare Registrar”, Inter-Regional Registration Center OJSC, Novy Registrator CJSC, ORK OJSC, Petersburg Settlement Center CJSC, PECO-INVEST IC CJSC, Reyestr OJSC, Registrator R.O.S.T. OJSC, Rosbank OJSC JSCB, Servis-Reyestr CJSC, UBS Nominees CJSC, as well as representatives of Russia's Ministry of Finance, Russian Federal Financial Markets Service, NSD (including representatives of its Committee for Interactions with Registrars and Depositories) and PARTAD.

The participants of the meeting discussed NSD's draft document "Interactions between Registrar and Central Depository-Nominee Holder" (version 2.0). The members of the PARTAD Committee gave special priority to the following matters:

  • Issues related to submission of the registrars' documents to the central depository as well as amendments to the documents;
  • Issues of change in a legal status of NSD's nominee holder account in the register during getting a central depository status;
  • Possible options for securities debiting/crediting from/to registers with the central depository's involvement, and reconciling records on number of securities in the central depository's account using counter orders;

The members of the PARTAD Committee agreed on importance of the following key issues of interactions with the central depository:

  • Necessity in development of a standard of interactions between the central depository and registrars;
  • Development of a technology of reconciliation of data on the central depository account between registrars and the central depository and of a mechanism of processing counter orders by registrars;
  • Possibility to form on basis of information provided by the FFMS and registrars a unified database of issuers information about which shall be disclosed in compliance with the Clause 30 of the Federal Law #39-FZ "On Securities Market" dated 22 April 1996.

The participants of the meeting agreed to form a working group involving members of the profile committees of PARTAD and NSD to elaborate documents regulating a technology of interactions between the central depository and registrars. The Committee also admitted new members and approved a Plan of Activities for 2012.

About NSD

National Settlement Depository (NSD) is the largest settlement depository in Russia, a part of the MICEX-RTS 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,

Follow us in Twitter: http://twitter.com/NSD_News

About PARTAD

The Professional Association of Registrars, Transfer Agents and Depositories (PARTAD) is one of the first self-regulatory organizations of the professional Russian securities market participants; for more than 17 years, PARTAD has been working in the industry. Today, among the Association's members are over 90 major registrars, depositories and specialized depositories.

PARTAD has developed an EDI system allowing the financial market participants to exchange documents with electronic digital signatures through telecommunications channels. To date the PARTAD EDI system includes 19 EDI sub-systems of the Association's members.

The PARTAD Certificate Attestation Centre (CAC) has been selected by FFMS as one of Russia's certifying centers issuing the electronic digital signatures for submission of electronic financial documents to FFMS.

To date over 650 Russia's financial market participants use the electronic-digital signature keys issued by PARTAD. PARATD's professional standards including technical standards of interchange of electronic documents with electronic digital signatures are approved by FFMS.

For further information about PARTAD: http://www.partad.ru/ 

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