The National Depository Center (NDC), Russia’s only settlement depository servicing the full range of securities issued by Russian issuers, announced today that effective from Nov. 7, 2007 shares in five new issuers will be serviced by the NDC-DCC “Bridge” which facilitates same-day transfers of securities between the two depositories. The five new issuers include VTB Bank OJSC, Sistema JFSC, Sistema-Hals OJSC, Territorial Generating Company #5 OJSC, and Fourth Generation Company of the Wholesale Electric Power Market OJSC. The NDC-DCC Bridge now services 97 securities on behalf of 62 issuers.
Interaction between the two settlement depositories NDC and DCC began on May 26, 1999, when the first operations using the “bridge” were carried out. The NDC-DCC “Bridge” allows the execution of direct settlements without any re-registration with the registrars. Since August 13, 2007 the acceptance of transfer orders using the NDC-DCC “Bridge” for same-day execution was extended from to 16.00 daily.
The extension of the working hours and the list of serviced securities are results of NDC’s effort to develop settlement and depository services for the convenience of professional participants in the stock market.
Not-for-Profit Partnership “The National Depository Center” is the largest settlement depository in Russia, servicing the full range of equity securities of Russian issuers. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, 95% conducted in the corporate and regional bond markets, and 90% of stock exchange share transactions. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, and 95% of sub-federal and municipal bond issues. The international rating agency Thomas Murray has assigned NDC an A+ rating as a central depository. In 2006 the value of assets in storage was RUR 3.3 billion, turnover was RUR 30.7 billion, and the total number of operations 1.9 million. NDC is the largest paying agent on behalf of corporate bond issuers. It is Russia's national numerating agency, the substituting numerating agency for the CIS, authorized to assign the international ISIN and CFI indexes. It is also a member of the international accounting infrastructure, providing settlements on the global financial markets using direct accounts at Clearstream Banking S.A. and Euroclear Bank. It also holds accounts at the Central Depository of the Republic of Kazakhstan and the NDC of the Republic of Azerbaijan. Among NDC’s founders are MICEX and Bank of Russia (the founders’ shares in the property are 46.7% and 39.3% respectively, and in the votes 50.2% and 42.3% respectively). Members include Gazprombank, Evrofinans Mosnarbank, Rosbank, VTB Bank (Vneshtorgbank), Bank of Moscow, Rossiysky Credit Bank, Vneshekonombank, ING Bank Eurasia, JP Morgan Bank International LLC, International Moscow Bank, Deutsche Bank, and Sberbank of Russia. The Partnership also has a stake in Depositary Clearing Company CJSC (36.96 %) and in Settlement Depository Company CJSC (29%).
For further information about NDC: www.ndc.ru, or NDC Public Affaires Department: +7 495 232 0910