OREANDA-NEWS. April 02, 2010. ZAO Depisitory Clearing Company (DCC) informs on launching the Electronic Data Interchange system between OOO Ircol Depository (unit investment funds Registrar).

Establishment of the EDI system between a unit investment fund Registrar (hereinafter referred to as Units Registrar) and a registered nominee holder is an obligatory requirement stated by FFSM (FFMS Order No.09-61/pz-n of 24.12.2009 “On Amendments to Order of the FFMS of Russia No. 08-17/pz-n of April 15, 2008 “On Registration of Rights for Units of Unit Investment Funds”) that comes into effect on March 30, 2010.

In this connection, effective April 01, 2010 re-registration of units of unit investment funds from DCC's account to accounts of registered shareholders will be executed only via EDI.

Currently, DCC has Electronic Data Interchange with the following Units Registrars:
OOO SDK GARANT
ZAO IRCOL
ZAO PRSD
ОАО ROSBANK
ZАО Vash Registrator
OAO Infinitum Specialized Depository
ООО SZFK
ZАО NRK
ООО MSD
ООО Ircol Dopository.

DCC discusses establishment of the EDI system with OAO Vneshtorgbank, OAO Moscow Central Depository, OOO Deporitary and Corporate Technologies and ZAO FINAM Investment Company.

Transfer of units to be safekept with DCC will release you from a necessity to establish the EDI system with each Registrar, and you will be able to easily meet the requirement of the current law.

All instructions for transactions with units of unit investment funds will be sent to DCC and DCC in its turn will furnish you with the reports on transactions and accounts. Thus, DCC will become a “sole gate” for transactions with units of unit investment funds. Plus, the interaction with DCC will be based on the standard EDI system.

Please contact your company's manager at DCC for any inquiries relating to this notification.