Closed Joint-stock Company “Depository Clearing Company”

• Contacts
• Legal Framework
• Management
• Ownership Structure
• Main Functions
• Annual Reports
• International Cooperation

Foundation date                               29 October 1993

1. Certificate of Registration No. 623.296 of 29 October 1993. issued by the Moscow Registration Chamber.
2. Licenses of professional participant of securities market to engage in:
   depository activities No. 177-06236-000100 of 09 October 2002;
   clearing activities No. 177-06229-000010 of 07 October 2002; issued by the FSFM of Russian Federation

Mikhail Laufer
President

Mikhail Laufer graduated from the State Financial Academy in 1991. In 1996, he got a post-graduate degree in Economics at the Russian Distance-Learning Finance & Economics Institute. In 2000-2002, he was the head of NP National Depository Center, then worked as the Deputy Director General of ZAO MICEX. In 2004, he became the First Deputy Director General of ZAO United Depository Company. From the beginning of 2006, Mikhail Laufer worked as the Deputy Head of the Directorate for Regulations of Activities of Professional Participants and Market Infrastructure Providers of the Federal Service for Financial Markets (FSFM) of Russia.

On 5 October 2006, he was elected President of Depository Clearing Company.
 
 

Currently the shareholders of ZAO DCC are:

DCC is a centralized settlement and depository system – a single point of entrance to the Russian securities market.

DCC clients can be securities market participants, securities issuers, fulfilling certain financial, legal and technological requirements. Today, DCC's clientele consists of about 400 participants, including more than 350 professional securities market participants representing. Total number of entities using DCC services exceeds 6,000 market participants representing all regions of Russia. Independence from our participants' geographical location is achieved through the use of electronic access to the DCC system.

DCC main goal is delivery of the full spectrum of securities safekeeping and recordkeeping, settlement and clearing services to professional securities market participants. The main criteria for development are minimization of risks, increase of reliability and convenience of DCC services. Provision of a standard set of services to all participants on the same terms and at the same price is a crucial issue.

The Company’s participants are able to trade securities on all major floors as DCC acts as:

• settlement depository for NP RTS Stock Exchange (RTS)
• settlement depository for ZAO ST. Petersburg Currency Exchange (SPCEX)
• settlement depository for NP Stock Exchange “Staint-Petersburg”
• correspondent depository for ZAO Moscow Interbank Currency Exchange (MICEX)

DCC also acts as nominee shareholder in share registers of more than 1,200 issuers.

Major benefits for the Company’s participants include:

• shorter trade settlement period
• cutting the costs by using a single depository – DCC for settlement of trades on all leading exchanges as well as OTC
• low safekeeping and account maintenance cost
• possibility to use remote electronic document access to services
• high level of corporate action services and information support, including provision of securities income payment
• having among DCC participants companies from all regions of Russia allows to make transactions independent of counterparty’s location.

  2007
  2006
  2005

• 2002 – DCC became member of ISSA (International Securities Services Association)
• 2003 – DCC became member of  CEECSDA (Central and Eastern European Central Securities Depositories and Clearing Houses Association)
• 2004 - The Eurasian Central Securities Depositories Association is established with the organizational support of DCC.
  
  

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