OREANDA-NEWS. August 18, 2010.  "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 Moscow Interbank Currency Exchange Settlement House Non-Bank Credit Organization CJSC (MICEX SH), announce the launch of a new service related to conducting of Delivery Versus Payment (DVP) settlements using NDC's and MICEX SH's accounts opened in Clearstream Banking S.A, an international settlement and clearing organization. The new service is being provided since 16 August, 2010.

NDC is responsible for the securities record, and MICEX SН controls the flow of funds. The settlements are to be conducted in a range of foreign currencies involving transactions with Eurobonds, ADRs and GDRs.

Eddie Astanin, Director General, Chairman of Directorship, NDC, said: "We meet a demand for expansion of a list of financial instruments with which Russian stock market participants conduct operations. In particular a segment of servicing of foreign issuers' securities is being developed rapidly. At the same time the range of services, securities and markets where DVP settlements are available is being expanded in order to reduce the risks connected to the settlements. It is important that integration of Russian and foreign financial infrastructures including interactions of the settlements institutions with leading international service providers is held in line with development of the International Financial Center in Moscow. "

Sergei Sukhinin, Chairman of the Board Executive, MICEX SH, added: "Our experience in provision of the similar service through NDC's and MICEX SH's accounts opened in foreign depository revealed that it was in great demand among market participants. Launch of DVP settlements through Clearstream Banking S.A. represents one more step towards our intention to expand our service range, to improve the quality of the services and to provide flexible approach to our clients' needs."

Alain Meyers, Executive Director, Relationship Management Northern & Eastern Europe, Clearstream said: “This is an important step into the direction of establishing Moscow as an International Financial Centre, providing real-time risk management across all asset classes and establishing true DVP functionalities linking international central securities depositories (ICSDs) and central securities depositories (CSDs) internationally”.

The unified tariff for this type of service is established in accordance with the paragraphs 3.2.7. and 3.2.8. of NDC's Tariffs.

The list of securities serviced by NDC through Clearstream Banking S.A. and admitted to the operations via the new scheme is available at NDC's web site: Russian Federation Foreign Bonds, corporate Eurobonds, ADRs and GDRs.