OREANDA-NEWS. February 19, 2009. The National Depository Center (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and Interregional Registrar Center OJSC (IRC) announced today their adoption of an electronic data interchange (EDI) system in their information interactions, following a trial. The switch to a unified standard in information exchange will allow accelerated operations and settlements, reduced risk of error, increased operational efficiency and enhanced confidentiality.

IRC will enter records of transactions made in customer accounts of NDC acting as a nominal holder, provide information on NDC’s customer accounts opened in registers, and cooperate with NDC, which is a nominal shareholder in the registers held by IRC, on the basis of electronic data. Paper copies of electronic data will only be provided where required by current Russian Federation legislation, on terms determined by corresponding agreements of the parties.