MOSCOW - The National Depository Center (NDC), Russia's only settlement depository servicing the full range of Russian securities, today announced that it had signed and sent to CJSC Depository Clearing Center (DCC) a supplementary agreement, according to which, starting August 13, hours for the acceptance of orders from clients transferring securities using the NDC-DCC "bridge" with same-day execution, will be extended from 13.30 to 16.00.
Nikolai Egorov, NDC Director, said: "NDC confirms its readiness for constructive interaction with DCC, and, taking into consideration the requests of the largest professional participants in Russia, aims to assist in developing the financial market infrastructure in any possible way. We believe that extending the "bridge" working hours will create additional favourable opportunities to all market participants, including DCC's clients, which in turn promotes the development of this company."
In addition, NDC is also holding a series of consultations with interested parties regarding expansion of the list of securities accepted for circulation over the "bridge."
Currently the NDC-DCC "bridge," which facilitates same-day transfers of securities between the two depositories, services the securities of 57 issuers. The bridge services 90 share issues in total.
About NDC
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 market of the Bank of Russia, 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% 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, 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 a direct account at Clearstream Banking S.A.
Among NDC’s founders are Bank of Russia and MICEX CJSC (founders' interest in estate – 46.7% and 39.3% respectively and in votes – 50.2% and 42.3% respectively). Members include Bank of Russia, MICEX CJSC, OJSC Bank of Moscow, Sberbank, International Moscow Bank, JP Morgan Bank International LLC, Vneshtorgbank OJSC, Bank Rossiysky Credit OJSC, Evrofinans Mosnarbank OJSC, Rosbank, Gazprombank CJSC, ING Bank Eurasia CJSC and Deutsche Bank LLC. Recently Vneshekonombank was approved as a new member. The Partnership also has a stake in CJSC Depositary Clearing Company (36.96 %) and in CJSC Settlement Depository Company (29%).
For further information about NDC: www.ndc.ru, or NDC press service: +7 495 232 0910, .