OREANDA-NEWS. June 09, 2010. "The National Depository Center" (Closed Joint Stock Company) (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and MICEX Settlement House (MICEX SH), reports that on 1 June, 2010, MICEX SH assumed functions of NDC's regional representative in Yekaterinburg. NDC’s participants will now be served in MICEX SH's Uralsky branch (A2 3 Kolmogorova, 620034 Yekaterinburg).

Eddie Astanin, Director General, NDC, pointed out: "We are completing reorganization of our regional network by means of transfer of NDC's regional representative functions to MICEX SH's Uralsky branch. It is worth adding that now we see positive results of MICEX SH branches' functioning as NDC representatives. It gives us confidence that we have made the right choice. Thus future integration of NDC's and MICEX SH's branches in Novosibirsk will be the next step towards optimization of the regional depository and settlement infrastructure. We also would like to remind that integration of the settlement and depository businesses in Russian regions represents the first practical stage of the priority project aimed at formation of the settlement depository on basis of NDC and MICEX SH approved by MICEX Group shareholders".

Sergey Sukhinin, Chairman of the Board Executive, MICEX Settlement House, added: "Regional integration of settlement business through transfer of NDC regional representative's functions to MICEX SH's branches provides practical advantages to market participants. From the very beginning of one-stop service at MICEX SH’s office the settlements’ speed is considerably increased. In particular document exchange is simplified for settlements of DVP transactions in OTC market, as the market participant has now to submit just one set of documents to MICEX SH's branch. Settlements reliability will be increased owing to high capitalization level and nil credit risks of MICEX SH. In future, after merger of NDC and MICEX SH, it is planned to introduce the unified electronic document exchange and continue the tariff policy optimization".

Previously the functions of the regional representative of NDC in Yekaterinburg were implemented by Regional Exchange Center “MICEX – Ural”. The terms of depository services offered to NDC participants remain unchanged. Detailed information of the provided services in Yekaterinburg is available at the following telephone numbers: +7 343 367 4378 (Uralsky branch of MICEX SH), +7 495 956 2789 (NDC Customer Services Department).