1. Client Experience
NDC sets new technology standards
in Russia with TCS BaNCS
The Russian securities market has emerged as one of the Customer
largest growing markets in the world. Their financial assets The National
Depository Center
have continuously exceeded the nation’s GNP and the stock
(NDC)
market’s capitalization crossed 1.3 trillion dollars in 2008.
Russia aims to become an international financial center in the Industry
region. To achieve this, Russia needs to make its markets more Capital Markets
efficient and attractive to investors, increase transparency and
Offering
reduce investment risks. Market Infrastructure
NDC, the largest settlement depository in Russia, embarked
on a technology modernization program to reach new level
of productivity, scalability and reliability. Considering TCS’
extensive experience with other Central Securities
Depositories (CSDs) across the world, NDC engaged with TCS
BaNCS to upgrade their market infrastructure technology,
thereby, facilitating their objectives.
With TCS’ solution, NDC was able to deploy a modern
technology platform, providing web-based access to market
participants in Russia for the first time. The new system
conforms to international standards and is also tuned for
high performance.

2. Client Experience
About the Client
NDC is the largest settlement depository in Russia, servicing the full range of debt and equity
securities of Russian issuers. It is the central settlement depository for sovereign bonds,
serves more than 99% of transactions with the corporate, sub-federal and municipal debt,
more than 99% of on-exchange transactions with equities and ETFs, and OTC trades.
The international rating agency Thomas Murray has assigned NDC an ÀÀ- rating (“very low
risk” with a “stable” outlook) as a central depository. NDC is Russia's national numbering
agency, and the substituting numbering agency for the CIS, authorized to assign the
international ISIN and CFI codes.
MICEX, a leading burse in the Russian capital market, and the Bank of Russia founded the NDC
in 1997. Presently among its shareholders are also GPB OJSC (Gazprombank), Evrofinans
Mosnarbank, Rosbank, VTB Bank (Vneshtorgbank), Bank of Moscow, Rossiysky Credit Bank,
Vnesheconombank, ING Bank Eurasia, JP Morgan Bank International LLC, UniCredit,
Deutsche Bank, and Sberbank. NDC has stakes in other institutions of the financial
infrastructure such as Depository Clearing Company CJSC (37.29%), Settlement Depository
Company CJSC (28.54%) and in Bank "National Clearing Centre" CJSC (0.27%).
Usage of electronic data interchange for communication with customers and network of
branches and representative offices covering Russia's largest business centers give NDC an
opportunity to service its participants from all over Russia.
Business Situation standards. The depositary therefore embarked on a
technology modernization initiative that would
Towards becoming an International Financial Center,
facilitate its transformation as the central depository
Federal Service for Financial Markets (FFMS) was
in Russian market.
established in accordance with President Vladimir
Putin’s Decree No. 314 “On the System and Structure of NDC needed a solution that was easily customizable
Federal Executive Branch Agencies,” dated 9 March and scalable. NDC selected TCS’ proven the market
2004. The key objective included maintaining stability infrastructure solution from TCS BaNCS as the solution
in the financial markets, making the markets more promised to deliver a state-of-the-art technology
efficient and attractive to investors, increasing market platform within a quick deployment timeframe.
transparency and reducing investment risks.
NDC upgraded its settlement and depository systems
As part of its growth strategy, NDC wished to be the using the market infrastructure solution from TCS
central depository, which was expected to make the BaNCS to a modern web-based platform providing
Russian stock market more liquid at lower risk levels. In its customers and partners the benefits of latest
order to do so, it needed to upgrade its technology technology while complying with global standards
platforms and bring these on par with global banking such as G30, SWIFT, 1SO 15022.

3. Client Experience
TCS Solution Benefits
TCS customized its solution to integrate it into NDC’s The market infrastructure solution from TCS BaNCS
depository infrastructure. The market infrastructure provided NDC with the technological platform that
solution from TCS BaNCS provided NDC with delivered the following benefits:
functionality which complied with the requirements of
n Helped NDC achieve the CSD status
the international investment community for a CSD, and
at the same time, accounted for Russian regulatory n Scalable system built on the latest technology with
requirements. the ability to support future business needs
Some key features of the solution were: n Compliance with global standards
n Multi-level accounting structure with the ability to n Web-based solution that automated business
capture accounts pertaining to deponents and its processes, resulting in improved operational
client, sub depository and its investor accounts efficiency
n Real-time interface with multiple stock exchanges – n Generalized messaging framework to support
MICEX, SICEX, SPICEX proprietary EDI format and SWIFT format
n Support for SWIFT/SWIFT-Rus messaging
n Support for a wide range of settlement models,
TCS is a global player and its solutions are seen by
which include
major international institutions to be of high quality.
- Gross Settlement NDC has chosen the market infrastructure solution from
- Net Settlement TCS BaNCS (formerly called eClearSettle) as the next
generation platform because its functionality complies
- Bridge Settlement
with the requirements of the international investment
- Adjustments with Registrar/Transfer Agents community for the Central Securities Depository and at
the same time accounts for domestic specifics.
- Inter-depository Settlement
- Nikolay Egorov,
n Support for high precision numbers - 34 digit
Director, NDC, and Senior VP and Member
numbers with 8 digit precision
of the Executive Board, MICEX, Russia
n Global reach through an internet based solution

4. About TCS BaNCS
The TCS BaNCS product suite for banking, capital markets and insurance enables business
transformation in financial services. Increasing operational efficiency and helping financial
institutions stay agile, our solutions deliver a competitive edge with unmatched certainty.
We aspire to be better than established benchmarks, which is why we have embedded an
Alpha (“á”), representing superior returns delivered to our customers, consciously and
prominently within our brand. The plug and play, component-based product suite
consistently turns in impressive benchmark results, with a fine-tuned, highly scalable
technology architecture that supports financial institutions with the highest capacities for
transaction volumes, peak transactions per second, and transaction history size. With such a
track record, it is only natural that the TCS BaNCS product suite can help financial institutions
of any size gain a distinct, competitive edge.
Contact
To know more about us, contact tcs.bancs@tcs.com
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