Settlement depository company (Joint Stock Company) (SDCO (JSC)) was established in 1998. The major areas of the company’s business include:
clearing activity and CCP within the commodity exchange market;
depositary activity within the securities market;
operation of the certification centre.
Clearing activity is a priority field of the Company’s development. SDCO (JSC) is the leading clearing organization within the Russian commodity exchange market, primarily the petroleum products market. Since 2008 SDCO (JSC) has been an authorized clearing organization of The Saint-Petersburg International Mercantile Exchange (SPIMEX) and at present it carries out clearing of obligations under the contracts concluded within all Sections of SPIMEX: Petroleum Products, Oil, Agricultural Products and Bioresources, Natural Gas, Timber and Building Materials, Derivatives Market of SPIMEX. SDCO (JSC) acts as the Central Counterparty under the Contracts concluded within the Derivatives Market of SPIMEX. Since January 2014 SDCO (JSC) has been carrying out clearing of obligations under contracts for delivery of petroleum products concluded within the mode of anonymous trading of CJSC “Exchange “Saint-Petersburg”. SDCO (JSC) pursues the following main aims when rendering services to participants of the commodity exchange market:
clearing for a wide range of commodity market instruments with settlements in Russian rubles;
reduction of the participants' costs by improvement of the mechanism of cash settlement and physical commodity delivery according to the results of the exchange transactions carried out;
ensuring of guaranteed settlements and delivery according to the results of the exchange transactions provided that the “delivery versus payment” principle is complied with;
improvement of the risk management system, in particular for the transactions in futures instruments the underlying asset for which are physical commodities;
acting as Central Counterparty for futures contracts;
increase in quality of market pricing and information transparency within the commodity exchange market.
SDCO (JSC) owns a license for clearing activity No. 077-00001-000010 dated December 11, 2012 issued by FFMS of Russia. Since August 2013 SDCO (JSC) is a member of International CIS Stock Exchange Association (IAEx CIS).
Depositary activity of SDCO (JSC) within the securities market includes:
services of custodian depository intended for rendering of comprehensive services to individuals and legal entities;
additional services related to depositary activity.
SDCO (JSC) carries out depositary activity on the basis of license of FFMS of Russia No. 17705 282 000 100 for depositary activity dated June 19, 2001. SDCO (JSC) is a member of the Professional Association of Registrars, Transfer Agents and Depositories (PARTAD) which provides it with the chance to take part in development of the Russian financial market infrastructure.
The certification centre (preparation and issue of certificates of digital signature verification keys) of SDCO (JSC) operates on the basis of License issued by the Centre for Licensing, Certification and Protection of State Secrets of FSS of Russia, LSZ No. 0009564, Registration No. 13222Н dated October 22, 2013 for development, production, distribution, of encryption (cryptographic) facilities, information and telecommunication systems protected using encryption (cryptographic) facilities, work performance, service rendering in the sphere of information encryption, technical maintenance of encryption (cryptographic) facilities, information and telecommunication systems protected using encryption (cryptographic) facilities (except in cases when technical maintenance of encryption (cryptographic) facilities, information and telecommunication systems protected using encryption (cryptographic) facilities is carried out to ensure the needs of the legal entity itself or the individual himself).