According to Fixygen, participants in the National Depository of Ukraine (NDU) used a ranked voting system to determine the composition of the NDU Depository System Participants’ Council for the next two years, and the resulting composition was identical to the current council.
According to a statement by the National Depository on its website, 18 applications were submitted to participate in the election: 9 from depository institutions and 9 from issuers, and the 14 members elected to the council are the same individuals as two years ago.
Representing depository institutions on the Participants’ Council are Oleksandr Panchenko of Univer Capital LLC, who currently chairs the council; Ninel German of PUMB; Bogdana Yefremova from Raiffeisen Bank, Iryna Nesterenko from Injur Capital LLC, Oksana Danylyuk from VST Bank, Oleksandr Storozhuk from Smart Bond.UA LLC, and Olesya Pyatchanina from Citibank.
From issuers that are not depository institutions and asset management companies acting on behalf of corporate funds, the board includes Saad Shadi Muhammad from PJSC “Bakhmatske Beet Receiving Enterprise,” Serhiy Likhodid from the closed-end, non-diversified venture corporate investment fund (ZNVKIF) “Garant Capital,” managed by the asset management company “Trust Capital”; Serhiy Biryuk from “Yagotyn Butter Plant” LLC; Bohdan Lupiy from the PFTS Stock Exchange, Serhiy Rumpa from PJSC “Yuzhkokss,” Oksana Zaika from JSC “DTEK Zapadenenergo,” and Svitlana Yushchenko from JSC “Chernihivgaz Gas Distribution System Operator.”
It is noted that the first meeting of the newly elected body is scheduled for September 17. At that meeting, the chair of the council will be elected and the council’s future areas of focus will be determined.
The Participants’ Council is an advisory body established to protect and represent the interests of participants in the depository system. It consists of 14 members: seven representatives of depository institutions and seven representatives of issuers (other than depository institutions) and asset management companies acting on behalf of corporate investment funds.
Individuals nominated by participants in the depository system with whom they have an employment or contractual relationship may be elected to the Council with voting rights (one representative per legal entity). Members of other bodies of the Central Securities Depository, with the exception of the National Bank of Ukraine (NBU), may not serve on the Council.
PJSC National Depository of Ukraine, trader Univer Capital LLC, custodian Management Treasure Trading Limited LLC and five more asset management companies (AMCs) have been identified as critical for the functioning of the economy and ensuring life support in a special period, which increases their ability to armor employees from mobilization.
The National Securities and Stock Market Commission (NSSMC) made the relevant decisions and published them on its website, establishing that these companies meet the requirements previously defined by the Commission.
In particular, it is about AMC-APF Apinvest, AMC Univer Management, AMC Diamant Invest Management, AMC Klever Capital and AMC Aktiv (all – LLC).
Earlier, in February, BTS Broker LLC, Investment Capital of Ukraine (ICU) LLC, Dragon Capital JV LLC and First Global Initiative Securities Trader (FGI) LLC also received such status from the NCSSM
In addition, a similar decision was made in respect of the state institution “Agency for Development of Stock Market Infrastructure” as the only company in the market, which is still engaged in the provision of information services.
As reported, the list of criteria for classifying professional market participants as important for the market NCSSM approved the decision № 24 of January 10 this year. According to it, investment firms that have carried out at their own expense or at the expense of clients purchase and sale transactions of government bonds in 2023 in the amount of UAH 100 million and asset management companies (AMCs), whose funds invested in government bonds in 2023 from UAH 30 million, may receive the status of critical and additional opportunities to book their employees from mobilization.
Alternatively, AMCs can make loans of UAH 100 million or more to defense-related entities in 2023 by the funds it manages.
The Commission also recognizes as important for the market property managers for financing construction projects or real estate transactions, if their activities are related to the construction of housing for the needs of the Ministry of Defense or war veterans and their families (subject to confirmation by the relevant state body).
In addition, the list of important professional participants that ensure the formation and functioning of the securities depository system, the formation and functioning of organized capital markets or organized commodity markets will be included in the list of important ones.
An enterprise will also be defined as important for the market if it provides clearing and settlements (organization of settlements) on completed transactions in financial instruments or products or provides functioning of the non-state pension provision system.
Finally, enterprises that are issuers participating in the fulfillment of military orders (subject to confirmation of the relevant state body) are defined as important.
ECONOMY, life activity reservation from mobilization, Management Trezhe Trading Limited, National Depository of Ukraine, Univer Capital
