OREANDA-NEWS. January 30, 2009. NDC and DCC Cancel Zeroing of Correspondent Accounts Balances. The National Depository Center (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and Depository Clearing Company CJSC (DCC) announced today that staring in February 2009 they will relax the the need to zero out balances for mutual correspondent accounts on a monthly basis for interdepository transfers through the NDC-DCC Bridge netween them. The Bridge, a system linking Russia’s two leading trading systems, MICEX and RTS, is a means of facilitating securities transfers between NDC, services MICEX-listed securities, and DCC which services RTS securities. From February, balances will be permitted to reach a US\\$50 million limit at either of the depositories.

Cancellation of monthly re-setting of balances will allow lower NDC and DCC customer payments for operations through the Bridge as a result of fewer operations between registers.

NDC is also changing tariffs applicable to NDC-DCC Bridge operations staring 1 Feb., 2009. The new tariffs will be:
For receiving securities from a depository using interdepository operations through the NDC-DCC Bridge – RUR250;
For the release of securities using interdepository operations through the Bridge – RUR400.

Reimbursement by NDC customers of actual expenses incurred by NDC in connection with the receipt or release of securities for or from a depository using interdepository operations through the NDC-DCC Bridge will not be required.

NDC tariffs are available here: "NDC tariffs".

DCC plans to introduce fixed tariffs for operations through NDC-DCC Bridge in the first quarter of 2009.