Depository & Registrar services
The National Depository Center (NDC) provides depository and registrar services to the issuers and securities holders based on an agreement concluded with the issuer.
Most securities issued in the Republic of Azerbaijan are uncertificated. An extract from the depo account issued by the central depository for uncertificated securities is the only legal document affirming ownership for these securities.
Along with affirming securities ownership right, NDC registers the transfer of ownership rights, such as purchase, donation, inheritance and other transactions. Corporate actions of issuers, including global transactions are also registered in the depository system. The processed data is reflected in the registry of securities holders. If the securities are in nominal holding, the name of the nominal holder is indicated in the registry of securities holders.
NDC provides the following depository and registrar services:
- Safekeeping and keeping records of certificated and uncertificated securities;
- Opening depo accounts for securities holders;
- Keeping records of accounts of securities holders;
- Registering securities transactions;
- Registering transactions on inheritance of securities ownership rights;
- Registering encumbrances of securities;
- Providing account statements at customer’s request;
- Providing transaction reports at customer’s request;
- Providing services to correspondent depositories;
- Maintaining a registry of securities holders;
- Keeping records of nominal holders’ accounts;
- Providing services regarding the organization of shareholders’ general meeting;
- Providing a brokerage service for calculation and distribution of dividends and interest rates;
- Transactions on securities division (split) and merger (consolidation);
- Transactions on securities conversion.