Moscow. June 9. INTERFAX.RU – Single window for information disclosure in the stock market, the creation of which was announced as a “national settlement Depository” (NSD), will help to minimize delays in the receipt of the accounting system of information on corporate actions, as well as reduce costs for issuers, the Director of Department of corporate relations of Bank of Russia Elena Kuritsyna.
In the framework of the project “is planned to bring together the information which should be disclosed and directed the implementation of corporate actions,” she said.
Currently, as you know, issuers disclose all reports of significant events through the information agencies accredited by the Bank of Russia, and then, often with a considerable delay, reporting on corporate actions (which in large part coincide with compactly) to NSD. The “single window”, created on the basis agencies, which will allow companies to simultaneously publish both types of messages, which are governed by two different regulatory documents of the Bank of Russia Regulations No. 454-P and No. 546-P.
Elena Kuritsyna said that the Central Bank is studying the possibility of convergence of requirements to the companies-issuers, which are recorded in these documents. “Currently, the Bank of Russia conducts work on preparation of appropriate modifications of the requirements to the information disclosed by the issuers in accordance with the regulations of the Bank of Russia No. 454-N, and the information determined in accordance with Bank of Russia Regulation No. 546-P as information on corporate actions,” – said in comments Kuritsyn.
“The creation of a Single window does not affect the already existing methods of disclosure of information on corporate actions and the Issuer will have the right to use any of the available channels for information to NSD” she said. Account institutions will have the opportunity to monitor points of information. The generated data, she said, will undergo double-side validation reduces the risk of transmission in the system incorrectly formed data.
“The project is aimed at improving facilities and reducing costs to issuers, disclosure and transfer of information about corporate actions, including potentially using the service a message on the corporate action provided by the agencies as an additional services. Interested in getting information to the people, especially the investors, the project will be interesting because in its implementation it is planned to bring together the information which should be disclosed and directed the implementation of corporate actions. In addition, this will minimize delays in obtaining information on corporate actions,” said hen, “Interfax”.
On Thursday, NSD announced that it was beginning the creation of the technological scheme, which will allow the companies-issuers to disclose as material facts and corporate actions through a “Single window”, established on the basis of news agencies. According to the plan, the technical platform for the “Single window” opening scheduled to open in late 2017 or early 2018. The project is being implemented by the Bank of Russia together with NSD and information agencies authorised to carrying out actions on information disclosure on securities. Issuers interviewed by “Interfax”, supported this project.
News agencies, made the decision about connecting to the corporate information center, NSD will need to commit themselves to implement the technological requirements of NSD, in particular, to ensure the transmission of data via secure channels in accordance with the ISO 20022 formats, using the electronic document management system of the Moscow stock exchange, according to a press release from NSD. A new scheme needs to raise “a qualitatively new level of information provision all participants in the investment process, including accounting institutions, holders of securities of Russian issuers, and a wide range of potential investors around the world,” presented in a press release, the words of the Chairman of the Executive Board, NSD Eddie Astanin.
Since 2003, issuers disclose information on material facts through 5 accredited agencies, including “Interfax”. Last year it introduced the obligation to publish companies-issuers of messages on corporate actions.
The total number of messages about material facts published on tapes of agencies made last year 204 thousand All operational information is duplicated between the five authorized agencies that ensures the functioning of the five completely identical and interchangeable centers of the disclosure. Issuers disclose via the Agency’s website the annual and quarterly reports.