OREANDA-NEWS. January 17, 2011. ING Commercial Banking in Russia (legal name “ING BANK (EURASIA) ZAO”) and Closed Joint-Stock Company "Depository Clearing Company" (“DCC”) are pleased to announce the launch of a new highly demanded service which will introduce a DVP settlement solution for Enhanced Speedy Settlement Scheme (ESSS). New unique product (ESSS IDEA) combines both flexibility and speed of ESSS with security of Internal DVP Easy Access (IDEA) procedure of ING CB.

The jointly developed with DCC scheme is an excellent solution which allows DVP trades to be settled in USD,EUR and RUB without the necessity to change the place of safekeeping of the position for the trade. The scheme isalso aimed at reduction of transaction costs levied on market participants.

ESSS IDEA scheme will become available starting from January 24, 2011 and may be used by clients of DCC, who have accounts with ING and custody client of ING, including those clients who currently do not use DCC as the place of safekeeping and hold their securities in the nominee accounts opened by ING with the shareholders registrars.

ESSS IDEA introduces 900 securities of 622 Russian into the DVP world, thus extending the product range available for the market and bringing more security into the Russian securities settlement infrastructure.