OREANDA-NEWS. June 4, 2008. The National Depository Center (NDC), Russia's only settlement depository servicing the full range of Russian securities, and REESTR OJSC, a specialized registrar, announced today they have converted to an electronic data interchange (EDI) system in their information interactions, following a trial. Their adoption of EDI took effect June 5. EDI implementation helps to improve service quality and increase operational efficiency.

Nikolay Egorov, Director, NDC, said: “The switch to EDI which we successfully held jointly with REESTR OJSC is an important part of our activities aimed at unification and harmonization of standards. NDC, being an active supporter of formation of a national EDI system in the Russian financial market, confirms its attitude towards standardization of interactions settlement among the depository and registrars. We hope that the new partnership will develop as a part of the unified process covering domestic infrastructure.”

Yuri Taranovsky, General Director, REESTR OJSC, added: “Conducting transactions through the EDI system will allow an acceleration of operations, preparation of a register for corporate events, unification of interactions between participants in the securities market’s infrastructure and provision for confidentiality within information exchange. We are confident that implementation of the EDI system with such large market participants as NDC will help increase the liquidity of securities of the issuers serviced.”