Another step towards creation of a CSD in the Russian securities market is made. This change will bring improvement of settlement and clearing services.
The National Depository Centre (NDC) and MICEX Settlement House (MICEX Sch) completed reorganization in the form of NDC`s merge into MICEX Sch on November 10th, 2010. After the reorganization MICEX Sch has become NDC `s universal successor with regard to its rights and obligations.
MICEX Sch will operate under the name of National Settlement Depository (NSD). The former CEO of NDC Eddie Astanin has been appointed Chairman of NSD Executive Board.
D.C.