The National Depository Center (NDC), announced that a meeting of the Board of Directors, held 18 July, approved a list of candidates for the new Board of Directors to be voted on at the forthcoming general meeting of NDC members. It also approved a proposed enlargement of NDC’s Audit Commission.
The Board approved new tariffs for NDC services and brought the tariff for rapid settlement and ordering of securities within the framework of the Speedy Settlement System project with ING Eurasia. NDC’s fees to bond issuers are being reduced to optimize tariff policy, with ceilings set based on bond types.
It was recommended that NDC’s director make changes in the regulations governing the calculation of NDC fees for the safekeeping and servicing of securities and Unit Investment Trusts. As a result of the changes, the nominal value of a bond should be based on market value.
It has been decided that, since NDC has stopped rendering services to the trustees of the depositors’ accounts, NDC will collect payments directly from depositors in accordance with its tariffs.