From September 20, 2010 depositors of the Closed Joint Stock Company "Depository Clearing Company" will gain the opportunity to conduct operations on settlements and keeping of international securities with DCC directly in an account in Euroclear Bank S.A./N.V. (hereinafter referred to as Euroclear Bank), which is the biggest international settlement and clearing center.
The Euroclear direct account offers wide opportunities for DCC depositors to operate in foreign markets with such securities as foreign issuers shares, corporate Eurobonds, ADR and GDR on Russian issuers shares, Eurobonds.
The depositors will be able to make any transactions within the securities provided under the Terms and conditions of depository activity of the DCC and that do not contradict the securities terms of issue and trading.
Currently, foreign issuers securities could be settled on a FOP (free delivery) basis. In the future, DCC is planning to further co-operate with Euroclear with the aim to gain new opportunities for depositors including DVP (delivery vs. payment) settlements.
