MICEX Settlement House Begins Operating as NDC's Regional Representative in Novosibirsk
Russia's National Depository Center transfers functions of its regional representatives to MICEX Settlement Chamber.
- (1888PressRelease) July 13, 2010 - MOSCOW - National Depository Center (Closed Joint Stock Company) (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and MICEX Settlement House (MICEX SH), report that on 1 July, 2010, MICEX SH assumed functions of NDC's regional representative in Novosibirsk. NDC's participants are to be served in MICEX SH's Siberian branch (34 Oktyabrskaya, 630007 Novosibirsk).
Eddie Astanin, Director General, NDC, pointed out: "A stage of restructuring of NDC's branch network within the framework of formation of a settlement depository of new generation begins with transfer of functions of NDC's representative to Siberian branch of MICEX SH. Our most important goal is to retain and improve the quality of the services provided by the settlement depository to the Siberian region's customers."
Sergey Sukhinin, Chairman of the Board Executive, MICEX Settlement House, added: "Consolidation of NDC's and MICEX SH's businesses in Russian regions represents a crucial stage in the course of formation of a settlement depository on basis of the two companies. Transfer of functions of NDC's regional representatives to MICEX SH branches, as well as integration of NDC's and MICEX SH's branches in Novosibirsk are opening to our customers new opportunities for securities settlements and operations."
Previously in Novosibirsk the NDC' participants have been served by Siberian branch of NDC. The terms of depository services offered to NDC participants will not be changed due to the transfer of NDC's regional representatives' functions to MICEX SH's branches. Detailed information of the provided services in Novosibirsk is available at the following telephone numbers: +7 383 210 2150 (Siberian branch of MICEX SH), +7 495 956 2789 (NDC Customer Services Department).
National Depository Center (Closed Joint Stock Company) is the largest settlement depository in Russia, servicing on-exchange and OTC transactions with all types of debt and equity securities of Russian issuers. NDC 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 Eurobonds. The international rating agency Thomas Murray has assigned NDC an АА- rating as a central depository. NDC is Russia's national numbering agency, and the substitute numbering agency for the CIS, authorized to assign the international ISIN and CFI codes. Eddie Astanin is the company's Director General. Sergey Lykov heads NDC's Board of Directors as a Chairman. NDC has 28.54% stake in Settlement Depository Company CJSC.
About the MICEX SH
The MICEX Settlement House (MICEX SH) is Russia's largest non-banking credit institution specializing in providing settlement services to participants in financial markets of the Russian Federation. MICEX SH provides settlement services that meet present-day requirements for efficiency, continuity and operational reliability. In accordance with agreements concluded between MICEX SH and the Bank of Russia, MICEX SH acts as a settlement center for the organized securities market.
Services provided by the MICEX SH are in high demand. Its clients number more than 880 major banks and financial companies from various regions of Russia, such as Sberbank, GPB (OJSC), Vnesheconombank, JSC VTB Bank, financial companies Troika Dialog and BCS Ltd., major foreign financial institutions subsidiaries, including CB "J.P. Morgan Chase Bank"(LLC), ZAO Citibank, Deutsche Bank Ltd., ZAO UniCredit Bank, ZAO Raiffeisenbank, Russian and foreign exchanges, the largest international brokerage company subsidiary "Cargill Yug. Ltd." and other organizations.