OREANDA-NEWS. January 18, 200. The National Depository Center (NDC), Russia's only settlement depository servicing the full range of Russian securities, announced today that it has concluded an agreement with the Bank of Russia on their interactions in the execution of direct REPO transactions on the OTC market. The two institutions have also agreed on procedures for direct REPO settlements on debt securities on Delivery-Versus-Payment (DVP) terms. Such settlements can be undertaken by participants in settlements and the Bank of Russia with regard to securities issued abroad by entities which are non-residents of the Russian Federation. These securities are included into the Bank of Russia's Lombard List but are not permitted for public offering in the Russian Federation.

Only companies holding a certificate as state securities dealer can participate in settlements with the Bank of Russia on direct REPO transactions in the OTC market. In order to conduct such transactions using DVP technology through NDC and the MICEX Settlement Chamber CJSC, the participant must:
Have (or open) a depository account at NDC;
Conclude an agreement with the Bank of Russia on direct REPO operations in the OTC market of the Russian Federation;
Have (or conclude) an agreement on electronic data interchange (EDI) with NDC;
Join the procedure of electronic data transit through NDC's EDI system;
Have (or open) a basic account at the MICEX Settlement Chamber;
Conclude an agreement with the MICEX Settlement Chamber on the handling of payments on operations with NDC participation.

Additional information on the procedure for concluding agreements with the Bank of Russia on direct REPO operations on the OTC market of the Russian Federation and on execution of direct REPO transactions on the OTC market is published on NDC's web site: www.ndc.ru.

Currently, NDC services the securities of foreign issuers which are held on deposit on NDC's account with Clearstream Banking and which are included in the Bank of Russia's Lombard List. These include more than 70 corporate Eurobond issues of leading international companies.

A summary table of the schedule of depository operations' implementation and other additional information are published on NDC's web site: www.ndc.ru.