BoD of NDC Approved Tariffs for Speedy Settlements with ZAO Citibank
OREANDA-NEWS. June 29, 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, reports that its Board of Directors at the meeting held 24 June approved the following tariffs for speedy settlements (services based on Speedy Settlement Scheme, SSS) with ZAO Citibank:
RUB 1,900 per one operation of receipt of securities for safekeeping and/or deposit with NDC;
RUB 2,400 per one operation of withdrawal of securities from safekeeping and/or deposit with NDC.
It is worth reminding that on 18 June, 2010, NDC and ZAO Citibank concluded an inter-depository agreement providing implementation of SSS by the parties. NDC opened a depository account with ZAO Citibank; the number of the account is 702009. The parties plan to launch the speedy settlements on 5 July. The Speedy Settlement Scheme which is to be used by NDC and ZAO Citibank allows to reduce the time needed for the delivery of shares and to optimize settlements between NDC's and ZAO Citibank's clients.