OREANDA-NEWS. September 28, 2009. At its meeting DCC's Committee of Major Participants reviewed a number of issues on development of the depository servicing procedure.

It was recommended to amend the Terms and Conditions of Depository Activity of DCC in connection with specification of requirements to the documents submitted to DCC, amendment of the procedure for performance of depository operations on issuer depo accounts at DCC, implementation of prompt acceptance of securities for servicing. The Committee agreed on the suggested procedure for setting limits for operations via the Enhanced Speedy Settlement Scheme, the conditions of limited participation of a custodian in DCC Enhanced Speedy Settlement Scheme. The Committee recommended to approve OAO VTB Bank joining the Enhanced Speedy Settlement Scheme.

A. V. Stolyarov was unanimously elected the chairman of the Committee of Major Participants for the next.

NB:
In 2006, DCC's Board of Directors drafted a resolution to establish the Committee of Major Participants. The Committee's authorities include dealing with the problems relating to the Company's development. The main objective of the Committee is elaboration of recommendations to the Board of Directors on modification of DCC's Clearing Rules and Terms and Conditions of Depository Activity as well as on the operational, technical and technological development of DCC and update of the Company's tariff policy and amendment of the Fee Schedule. DCC's Committee of Major Participants consists of 10 members elected by the Board of Directors from 20 major clients for a one-year term and one DCC representative.