OREANDA-NEWS. July 05, 2011. National Settlement Depository (NSD), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and Yakutsk Stock Center Republican Specialized Registrar OJSC (YSC), have announced their adoption of an electronic data interchange (EDI) system in their information interactions after a trial period.

The use of EDI technology will allow accelerated document interchange and processing in the course of operations conducted in the registers of inscribed securities holders and in depository record keeping system, decreased risks of error and fraud, increased operational efficiency and processing of securities owners' lists in the course of corporate actions and enhanced confidentiality in the course of information exchange between two organizations.

YSC will enter records of transactions made in customer accounts of NSD acting as a nominal holder and provide information on NSD’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.