The National Depository Center (NDC) and the CJCS Registrar Society STATUS, after successfully completing a test run, have begun mutual acceptance of electronic documentation in information exchange without the use of paper documents.
Paper-free information exchange is expected to help the companies to achieve better and more efficient client servicing.
“Switching to a paperless document system with CJSC STATUS is an important part of our work on unification and harmonization of standards,” said Nikolai Egorov, NDC’s director. “We see this achievement as a further step towards a higher market liquidity, faster operations and settlement processing, improved corporate activity, along with an overall reduction of risks.”