National Settlement Depository (NSD), Russia’s only settlement depository servicing the full range of debt and equity securities of Russian issuers, and Sibir Registration Company CJSC, Russian registrar, have begun the trial use of an electronic data interchange (EDI) system in their information interactions.
This experimental mode envisages cooperation between NSD as a nominal shareholder and Sibir Registration Company, involving both electronic and paper-based records, whenever Sibir Registration Company creates records of its operations and submits its accounts data to NSD. Cooperation between the participants is powered by the workplace software SED NSD (Luch).
The parties plan to switch to paperless interaction after the trial period.