National Settlement Depository (NSD) and Almetyevsk Branch of Eurasian Registrar (ERs Almetyevsk Branch) LLC are adopting an electronic data interchange (EDI) system in their information interactions.
A client list of ERs Almetyevsk Branch includes JSC TATNEFT and JSC Nizhnekamskshina.
The use of EDI technology will allow accelerated document interchange and processing in the course of operations conducted in the registers of inscribed securities holders and in depository record keeping system, decreased risks of error and fraud, increased operational efficiency and processing of securities owners’ lists in the course of corporate actions and enhanced confidentiality in the course of information exchange between two organizations.
ERs Almetyevsk Branch will enter records of transactions made in customer accounts of NSD acting as a nominal holder and provide information on NSDs customer accounts opened in registers, on the basis of electronic data. Paper copies of electronic data will only be provided where required by current Russian Federation legislation, on terms determined by corresponding agreements of the parties.
(CM)