OREANDA-NEWS. September 22, 2009. 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, and the Professional Registration Center CJSC (PRC CJSC), a registrar, announced today their adoption of an electronic data interchange (EDI) system in their information interactions, following a trial.

The use of EDI will allow accelerated operations, reduced risks of error and fraud, increased operational efficiency and enhanced confidentiality in the course of information exchange.

Oleg Savitsky, Director General, PRC CJSC, said: "Professional Registration Center is actively developing an EDI program in the course of its interactions with all its counterparties. The agreement with NDC will allow our company to make the next step towards the creation of an unified electronic information environment necessary for all stock market participants."

Nikolay Egorov, Director General, NDC, added: "NDC continues to follow its policy of expanding its service accessibility within the framework of interactions between infrastructural organizations. We are happy that Professional Registration Center has joined our EDI system."

PRC will enter records of transactions made in customer accounts of NDC acting as the nominal holder and provide information on NDC’s customer accounts opened in registers, on the basis of electronic data. Paper copies of electronic data will only be provided where required by current Russian Federation legislation, on terms determined by corresponding agreements of the parties.