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NSD Supervisory Board Forms Customer Committee

25.07.2012 16:41 / Interfax

National Settlement Depositary (NSD) Supervisory Board (part of MICEX-RTS Moscow Exchange Group) passed the Customer Committee establishment decision and appointed all of its 29 members at a Wednesday session, according to NSD press release.

“Over two dozen most active NSD clients will actually get to directly influence depositary and settlement infrastructure development in Russia. This will allow to balance the interests of market participants versus the central depositary and ensure effective key decision making at NSD”, says Chairman of NSD Eddie Astanin as quoted in the release.

The Committee will approve internal NSD regulations, including depositary rules, electronic workflow, operations procedures and depo paperwork, risk management principles and service fees.

It has been reported that the Committee will pass a number of documents that NSD needs in order to file for the status of Russia’s central depositary.

The Committee includes five registrar representatives: Computershare registrar First Deputy General Director Veronica Vaslieva, SR-Draga registrar General Director Alexander Karavaev, VTB Registrar General Director Konstantin Petrov, Irkol registrar Deputy General Director Andrei Safonov and Status registrar General Director Mikhail Nedelsky.

The Committee is also joined by one representative each from Russia’s Central Bank, MICEX-RTS Moscow Exchange and National Clearing Center (part of the exchange group): Central Bank Director of Financial Markets Control Marina Alekhina, MICEX-RTS Moscow Exchange Money Market Managing Director Igor Marich and National Clearing Center Head of Clearing Development Anaida Romanova.

Other members of the Committee include two special depositary reps – SDK Garant General Director Tatiana Esaulkova and Infinitum Special Depositary Head of Registrar and Depositary Maria Dolgopolova.

The remaining members of the Committee represent the key clients of the depositary.

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