NDC Appoints New Deputy Director General
Russia's National Depository Center appoints new Deputy Director General.
- (1888PressRelease) September 01, 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 reports that it has appointed Boris Cherkassky the company's Deputy Director General.
About Boris Cherkassky
Boris Cherkassky graduated from Moscow State University in 1973 with a specialty in mathematics. In 1978 he received his PhD degree in computer science.
In 1973-1991 Mr. Cherkassky worked for the Central Economic and Mathematical Institute and for the Institute of Economic Forecasting of the Russian Academy of Sciences where was focusing on combinatorial algorithms. In 1993 Mr. Cherkassky joined the Bank of Russia as a chief specialist; later he headed one of the bank's divisions. He was an author of the Bank of Russia's 44th depository services regulation and of other documents regulating depository activities for credit organizations. He took part in development of a report on depository activities prepared jointly by Russia's Federal Commission for the Securities Market, Bank of Russia and the Ministry of Finance, and 36th regulation of Russia's Federal Commission for the Securities Market. Since 2000 Mr. Cherkassky worked for Depository Clearing Company CJSC (DCC), NDC, and for VTB depository. He also took part in formation of Russian Pension Fund's special depository. In April 2008 - August 2010 Mr. Cherkassky was a Vice President of DCC. He was one of the initiators of the Association of Eurasian Central Securities Depositories (AECSD). Mr. Cherkassky issued over 70 publications focused on depository activities.
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.