Brussels and Moscow, 2 October 2007 - The National Depository Center (NDC) of Russia, will provide greater opportunities for its clients in the international capital markets. Qualified members of NDC will be able to settle transactions and safekeep international securities via NDC’s account with Euroclear Bank with immediate effect. NDC and Euroclear SA/NV signed a Memorandum of Understanding (MoU) in April for information sharing and potential future co-operative initiatives. With this new arrangement, NDC is increasing its service offering by facilitating access to a wide range of international securities, such as Russian-issued eurobonds, sovereign and corporate bonds from over 30 international markets, and equities from over 25 markets. Euroclear Bank has been settling transactions in the Russian ruble since February.
Nikolay Egorov, Chief Executive of the NDC, said: “Our choice of opening a direct account with Euroclear Bank enables us to provide our clients with a full range of depository services in accordance with international standards. Our co-operation with Euroclear is another example of how Russia is changing, and integrating with global markets.”
Frederic Hannequart, Executive Director and Chairman of Euroclear Bank SA/NV, said: “After the initial MoU, both organisations have worked closely to make this new development possible. As the Russian capital market’s infrastructure evolves, we remain open to working with all segments of the market in responding to their needs.”
Euroclear is the world's largest provider of domestic and cross-border settlement and related services for bond, equity and fund transactions. User owned and user governed, the Euroclear group comprises Euroclear Bank, based in Brussels, as well as Euroclear Belgium, Euroclear France, Euroclear Nederland and Euroclear UK & Ireland, the central securities depositories of Belgium, France, the Netherlands, and the UK and Ireland, respectively. In early 2007, Euroclear acquired EMXCo, the UK’s leading provider of investment-fund order routing. The total value of securities transactions settled by the Euroclear group is in excess of EUR 450 trillion per annum, while assets held for clients are valued at more than EUR 18 trillion. Euroclear Bank is rated AA+ by Standard & Poor's and Fitch Ratings. For more information, please consult www.euroclear.com.
The 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 with a “Stable outlook”. The first half of 2007 figures value the assets in safekeeping at RUR 4.2 trillion (USD 163.6 bn). NDC is the largest paying agent on behalf of corporate-bond issuers. NDC is the Russia's national numerating agency, the substituting numerating agency for the CIS, authorised to assign the international ISINs and CFIs. Among NDC's founders are Bank of Russia and MICEX. Members include Bank of Moscow, Sberbank, International Moscow Bank, JP Morgan Bank International, VTB Bank (Vneshtorgbank), Vneshekonombank, Rossiysky Credit Bank, Evrofinans Mosnarbank, Rosbank, Gazprombank, ING Bank Eurasia, and Deutsche Bank. The Partnership also has a stake in Depositary Clearing Company CJSC and in Settlement Depository Company CJSC.
For further information about NDC: www.ndc.ru, or NDC press service: +7 495 232 0910, .