OREANDA-NEWS. March 12, 2010. The Department for Licensing and Financial Sanation of Credit Institutions of the Bank of Russia has registered a report on the results of additional issue of shares by CJSC JSCB National Clearing Centre for 2.7 bn roubles. As a result of the additional share issue, NCC‘s authorized capital will increase to 4.435 bn roubles, and its net-capital will approximate 7 bn roubles.

The third additional share issue comprises 2.7 mln. shares of common stock with par value of 1 thousand roubles each.

The increase in the authorized capital of CJSC JSCB National Clearing Centre, which performs functions of a clearing institution and a central counterparty in the currency exchange market of MICEX Group, is in line with the Group’s strategy, contemplating growth of NCC’s net-capital to the level exceeding 9 bn roubles by 2011.

The growth of equity represents an important factor strengthening NCC’s financial stability and increasing its reliability as a central counterparty concentrating risks and ensuring performance by the market participants of their obligations assumed under the concluded transactions. The sufficiency of NCC’s equity also represents an important element of market stability, contributing to the market’s higher attractiveness for participants and, consequently, to higher trading volumes and liquidity.

The equity growth strategy adopted by CJSC JSCB National Clearing Centre conforms to the CPSS/IOSCO Recommendations for Central Counterparties as regards its requirements related to market risk management. This strategy is also in strict conformity to the risk management standards for central counterparties introduced by the European Association of CCP Clearing Houses, whereof CJSC JSCB National Clearing Centre is a member.