«The National Depository Center» (Closed Joint Stock Company)

• Contacts
• Legal Framework
• Management
• Ownership Structure
• Main Features
• Information Disclosure
• Annual Reports
• International Cooperation

Foundation date                               January 21, 1997

«The National Depository Center» (Closed Joint Stock Company) was founded on January 21, 1997 by the Central Bank of Russia and Moscow Interbank Currency Exchange (MICEX). Later on the biggest market players became NDC stockholders, bringing along transparency and market governance. 

• Certificate of state registration of a legal entity 77 №010852670 dated 10.08.2009 (Primary State Registration Number 1097799013256) -  a record on formation of a legal entity by reorganization in the form of corporization was made to the Single State Legal Entity Register.
• License of a professional securities market participant to engage in depository activities No. 177-03431-000100 issued on December 4, 2000 by the Federal Commission for the Securities Market of the Russian Federation. The license is granted for an unlimited period of time.
• License of a professional securities market participant to engage in clearing activities No. 177-03437-000010 issued on December 4, 2000 by the Federal Commission for the Securities Market of the Russian Federation. The license is granted for an unlimited period of time.

Eddie Astanin
CEO

NDC shareholders as of July 12, 2010.

Dynamic development

"The National Depository Center" (Closed Joint Stock Company) was formed on 21 January, 1997. NDC was established as a central settlement depository for the servicing of state securities, and it began fulfilling that mission in late March 1998. The same year NDC started operations with corporate, sub-federal and municipal securities. Having achieved a leading position in the market of debt instruments of Russian issuers, the NDC increases the volume of transactions with shares, UIT units and Eurobonds. Now NDC functions as a central settlement depository and a center of technical support of dealer’s sub-depository in Russia’s federal securities, the circulation of which is supervised by the Bank of Russia.

Currently NDC is Russia’s largest settlement and safekeeping provider in terms of assets held and the only securities settlement system in the country handling all kinds of Russian issue-grade securities and acting as National numbering agency authorized to assign international ISIN and CFI codes for Russian securities. NDC also acts as Substituting numbering agency for the CIS authorized to assign international ISIN and CFI codes where national regulators authorize this. NDC is a member of leading Russian and international associations specializing in the development of securities settlement.

Management efficiency

Building an efficient corporate governance system is an important strategic task for NDC. Participation of a large number of NDC shareholders, clients and partners in the company’s Board of Directors and NDC advisory bodies to the Board of Directors allows increased transparency in the company’s corporate governance, provides for an effective means of influencing the policy of the company, and minimizes managerial and operating risks.

With the objective of improving NDC’s corporate governance the company has developed and approved the following documents: Code of Professional Ethics, an internal document aimed at the protection of rights and legal interests of the company and its clients and which must be followed by NDC’s employees and managers, and a Disclosure Policy outlining principles of the company’s information openness.

Reliability

NDC’s rating is affirmed by Thomas Murray Ratings Ltd., an international rating agency, at AA- (“very low risk”, outlook “Stable”).
Results of an independent operational audit conducted in recent years confirm the high reliability of NDC as a settlement depository.
NDC’s professional risks are insured by Ingosstrakh Insurance Company Ltd., one of the leading Russian insurance companies.

Accessibility

NDC provides a wide range of depository and related services to its clients and provides settlements securities transactions concluded on the leading trading venues in Russia: MICEX and MICEX Stock Exchange (Moscow), SPCEX SC (St. Petersburg) and also in the OTC market.

Usage of a fully functional electronic document interchange system in the course of interaction with clients, and existence of a network of branches and representatives in Russia’s major business centers (St. Petersburg, Yekaterinburg, Nizhny Novgorod, Rostov-on-Don, Samara, Novosibirsk and Vladivostok) allow NDC to provide services to professional participants in the securities market and investors from all Russia’s regions.

On July 1, 2009 NDC began monthly disclosure of internal funds value calculated on the last calendar day of each month in accordance with the Regulation of the Federal Financial Markets Service dated 23.10.2008 №08-40/pz-n "On Modifications to Requirements for Internal Funds Adequacy of the Professional Securities Market Participants and Management Companies of Investment Funds and Non-Governmental Pension Funds Approved by the Regulation of the Federal Financial Markets Service Dated April 24, 2008 #07-50/pz-n" (registered with the Ministry of Justice of the Russian Federation on 30.01.2009, #13227).

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NDC is a member of:

1. Association of Eurasian Central Securities Depositories (AECSD);
2. European Central Securities Depositories Association (ECSDA);
3. Association of National Numbering Agencies (ANNA)

and a SWIFT participant.

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