Our main contractor the winner of the competition for the supply of the National Depository of Ukraine (NDU the Central Depository) of software for Depository services is a British company Percival Software Limited. According to the NDU in the disclosure system NKTSBFR, the Supervisory Board of the Central Depository on November 24 authorized the head of the NDU at the conclusion the specified company of the agreement on preparatory project work (Early Start Agreement) and of the main agreement (Main Delivery Agreement).
The marginal cost of these agreements is $1.1 million At the same time, as said the Agency “Interfax-Ukraine” in a press-service of the NDU, the final amount of the contracts is calculated.
According to the NDU, in the process of evaluating proposals was also involved representatives of the National Bank of Ukraine (NBU) and the securities Commission.
NDU intends to sign an agreement on the preparatory project work until the end of 2017 . Pre-implementation stage of the project can last for about three months. In this period the supplier will assess the necessary customization (adaptation) of their product on the basis of the business processes of NDU and Ukrainian regulatory requirements. The main phase of the project is expected to start in April 2018.
According to the plans of the NDU, the new software and technological complex should start operating in 2019. It is expected that the new IT platform will be introduced in the Ukrainian practice of recordkeeping technology, used in developed European equity markets. This will allow financial institutions to operate efficiently and to develop new services for its customers.
“For integration into the European financial space working of the Depository system of the Ukrainian stock market needs to be given to the norms of the European practice of accounting of securities. One of the important stages – replacing the old software with limited functionality on flexible high-tech system that meets the requirements of the modern market,” – said the head of the NDU Mindaugas Bakas, whose words are quoted on web site of the Central securities Depository.
Percival Software Limited founded in 1986, is engaged in the development and delivery of software solutions for Central securities depositories around the world. The company since 2008, has won nine contracts for the supply of the system of Depository accounting, covering 21 countries. Among clients in recent years: the stock exchange of Iceland, Malta, Armenia, the Baltic States, the Commonwealth of the Bahamas etc.
As reported, the European Bank for reconstruction and development at the end of 2016, has attracted international consulting company Oliver Wyman as an Advisor to the National Bank of Ukraine (NBU) and the national Commission on securities and stock market (NKTSBFR) and the development of the Depository, clearing and settlement infrastructure in the country.
Oliver Wyman is an international company in management consulting. In its offices located in more than 50 cities in 26 countries, employs 3.7 million employees. Oliver Wyman is part of the group of companies Marsh & McLennan Companies.
NDU as part of a plan to upgrade the software of the system of Depository accounting of securities market in mid-July of 2017 announced the collection of proposals from suppliers of software for Depository services.
Among the key requirements: the system must cater for all common types of accounts in the Deposit account; must be provided for accounting of both domestic and foreign securities, and in interacting with foreign and international CSDs, on interaction with systems providing cash payments.
In addition, the system must support the latest formats for the exchange of information in ISO 15022, 20022 and other standards, must be provided a functionality for the accounting of government securities, maintenance of corporate events of the Issuer, the Depositary for the exchange of information with clients NDU using modern web technology or through the exchange of standardized messages.
Offers from suppliers were accepted until August 18, 2017.
As of November 27, 2017 at the service of the NDU are 216 accounts of Depository institutions, 12 of which in the state of termination of execution of Depository activities, 10,493 thousand accounts of issuers 4 trillion 181,005 billion of securities with a total nominal value of 1 trillion 697,823 billion.
http://true-news.info/the-winner-of-the-competition-for-the-supply-of-the-ndu-program-complex-became-a-british-percival/
