OREANDA-NEWS. June 01, 2009. The National Depository Center (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, reported today on 20-22 May participation in the tenth international conference of Central Securities Depositories (CSD10) held in Budapest. The conference organizers were Central Clearing House and Depository (Budapest) Private Company Limited by Shares (KELER) and the European Central Securities Depositories Association (ECSDA). NDC was among the sponsors of the conference. Participants heard reviews of the activities of regional depository associations from Europe, America, Africa & Middle East, Asia & Pacific region, and, as well as a report by the Association of Eurasian Central Securities Depositories (AECSD). Among issues discussed at the forum were new trends in depository technologies, new directions for the improvement of corporate governance at central depositories and other topics.

Andras Simor, Governor of the National Bank of Hungary, opened the official program with a report reflecting his views on financial market regulations. The second day of the conference included a report entitled "The Boundary Problem" by Professor Alberto Giovannini which was dedicated to central depositories' efforts to raise the effectiveness of risk management during the global financial crisis.

Participants in the conference actively discussed problems and new challenges arising from the tasks of central depositories in implementation of the corporate actions by the issuers.

Eddie Astanin, Deputy Director, NDC, said in his speech at the conference's session: "As the settlement depository of MICEX Group, NDC is the largest Russian paying agent for corporate and regional bonds, with market share close to 40%. NDC serves all types of equity securities in the Russian market and provides high level of automated technologies connected with the implementation of the corporate actions by the issuers. At the same time given the growth in intensity of the corporate actions in recent years (for instance the amount of ruble payments to investors held by NDC as a paying agent rose 80% in 2008 against 2007), the dynamic increase in messages traffic related to corporate actions (according to SWIFT from 2007-2008 Russian traffic rose more than seven-fold) and substantial growth in operations in NDC accounts in ICSD (Euroclear, Clearstream), we plan to take further steps in the area of message unification and standardization in line with ISO, and to implement STP technologies as part NDC practice."

Maria Ivanova, Director for Development, NDC, presented a report on AECSD's activities. She described the Association's management structure, its development directions, stressed the importance of cooperation and exchange in experience between representatives of the central depositories at the international level. She also outlined the most important events and changes in the Association and in the markets where AECSD members operate. 

Working sessions of the associations were held within the framework of the forum. AECSD representatives (CJSC National Depository Center, Azerbaijan; KACD, Kazakhstan; NDC, Russia; DCC, Russia; NDU, Ukraine) discussed current activities and approved Russian NDC's suggestion of a survey on a key function of any central depository: servicing of corporate actions. Such a survey has already been conducted by two other associations, ECSDA and ACSDA.

The next forum of central depositories will be held in April 2011 in Cape Town by the Africa & Middle East Depositories Association (AMEDA).