RITEK Securities to Be Removed from List of NDC-DCC Bridge
OREANDA-NEWS. September 25, 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, has announced that with effect from 1 October, 2009, Joint Stock Company "Russian innovation fuel and energy company" (RITEK) will no longer be listed among issuers whose securities are administered within the NDC-DCC Bridge. The exclusion of RITEK from the list is connected with the company's share repurchase held in accordance with Clause 84.8 of the Federal Law "On Joint Stock Companies.''
Thus the NDC-DCC Bridge currently services the securities of 86 issuers and 117 securities issues.
Interaction between the two settlement depositories NDC and DCC began on 26 May, 1999, when the first operations using the “bridge” were carried out. The NDC-DCC Bridge allows the execution of direct settlements without any re-registration with the registrars.
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