On August 16, the Central Bank of Russia (CBR) issued a banking licence to the NATIONAL CLEARING CENTRE (NCC) for the right to perform bank transactions in roubles and foreign currency. NCC was founded by MICEX which holds 98% of shares in the bank and the NATIONAL DEPOSITARY CENTRE, a non-profit partnership with 2.0%. NCC has a charter capital of R235 million. It is to be increased to R700m in the long term. NCC will specialise in clearing operations on exchange and over-the-counter market, taking charge of clearing obligations under Russian legislation.
Source: BANKI.RU, August 17, 2006
