OREANDA-NEWS. September 09, 2010. MICEX Settlement House (MICEX SH) has held a meeting of its Supervisory Board. The participants of the meeting made decision on the Management Board of National Settlement Depository (NSD), the new company to be formed after the merger of MICEX SH and "The National Depository Center" (Closed Joint Stock Company) (NDC).

According to MICEX SH's Supervisory Board’s resolution NSD's Management Board is to comprise four members. The participants of the meeting appointed the following persons the members of the Board: Sergey Sukhinin, Deputy Chairman of the Management Board; Ekaterina Demushkina, Deputy Chairman of the Management Board; Irina Veremeyenko, Chief Accountant.

Prior to this the Bank of Russia approved MICEX SH shareholders' decision to appoint Eddie Astanin the Chairman of NSD's Management Board.

The participants of the meeting established the term of powers of the members of NSD's Management Board: from the date of receipt of notification of reorganization to the date of the first meeting of NSD's Supervisory Board to be formed by NSD's AGM in 2011 (both dates inclusive).

About MICEX Group

The MICEX Group is an integrated exchange that provides services related to electronic trading, clearing, settlements as well as depository and information services. The Group is comprised of the MICEX, the MICEX Stock Exchange, the National Mercantile Exchange, the MICEX Settlement House, the National Depository Centre, commercial bank National Clearing Centre, regional exchange and settlement centers, as well as other organizations. The Group serves over 1700 participants in the on-exchange market – leading Russian banks and broker companies from Moscow and other large financial and industrial centers of Russia. At present, the MICEX Group is the largest exchange in Russia, the CIS, Central and Eastern Europe.
In terms of the volumes of on-exchange trading in securities, the MICEX Stock Exchange is among the worlds’ top 25 stock exchanges.

About the MICEX SH

The MICEX Settlement House (MICEX SH) is Russia’s largest non-banking credit institution specializing in providing settlement services to participants in financial markets of the Russian Federation. MICEX SH provides settlement services that meet present-day requirements for efficiency, continuity and operational reliability. In accordance with agreements concluded between MICEX SH and the Bank of Russia, MICEX SH acts as a settlement center for the organized securities market.

Services provided by the MICEX SH are in high demand. Its clients number more than 880 major banks and financial companies from various regions of Russia, such as Sberbank, GPB (OJSC), Vnesheconombank, JSC VTB Bank, financial companies Troika Dialog and BCS Ltd., major foreign financial institutions subsidiaries, including CB “J.P. Morgan Chase Bank”(LLC), ZAO Citibank, Deutsche Bank Ltd., ZAO UniCredit Bank, ZAO Raiffeisenbank, Russian and foreign exchanges, the largest international brokerage company subsidiary “Cargill Yug. Ltd.” and other organizations.

For further information about MICEX SH: http://www.micex.ru/group/settlementhouse/

About NDC

"The National Depository Center" (Closed Joint Stock Company) is the largest settlement depository in Russia, servicing on-exchange and OTC transactions with all types of debt and equity securities of Russian issuers. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, the majority of transactions with equities and also services UIT units and Eurobonds. The international rating agency Thomas Murray has assigned NDC an АА- rating as a central depository. NDC is Russia's national numbering agency, and the substitute numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.