NDC and ING Wholesale Banking to Service Shares of Five New Issuers
OREANDA-NEWS. January 15, 2009. The National Depository Center (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and ING Wholesale Banking, Russia’s largest custodian providing services to foreign investors, announced today that starting Jan. 14, 2009 five new issuers have been added to those serviced through the jointly-developed Speedy Settlement Scheme (SSS).
SSS-serviced issues will now include the shares of JSC “NOVATEK”, OJSC Uralkali, VSMPO-AVISMA Corporation, RAZGULAY Group OJSC and JSC VTB Bank.
Accordingly, 37 issuers are now serviced through SSS.
The Speedy Settlement Scheme (SSS) has been designed jointly by NDC and ING Wholesale Banking to reduce the time needed for the delivery of shares and to optimize settlements between NDC and ING Wholesale Banking clients. Shares transferred using SSS from ING Wholesale Banking to NDC can begin trading on MICEX Stock Exchange the same day. Shares bought on MICEX Stock Exchange can be transferred to ING Wholesale Banking the same day, after the clearing session is over.
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