OREANDA-NEWS. July 2, 2009. The National Depository Center (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and Vedeniye Reyestrov Kompaniy CJSC (VRK), a specialist registrar, 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 risks of error and fraud, increased operational efficiency and enhanced confidentiality.

Sergei Lappo, General Director, VRK, said: "This is one more step from discussions and tests of EDI to practical actions in the functioning stock market. The adoption of EDI by a regional market participant is a very important fact too."

Nikolay Egorov, Director, NDC, added: "The switch to EDI in interactions with one more regional registrar confirms that NDC was right in the selection of the direction aimed at improved quality and increased availability of its services."

VRK will enter records of transactions made in customer accounts of NDC acting as a nominal holder and provide information on NDC’s customer accounts opened in registers, 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.