After-hours trading on MOEX's Equity Market

The after-hours (evening) trading session will run from 19:00 to 23:50 MSK.

There will be available T+ trades with Y1-Yn settlement codes as well as trades without CCP involvement with B1-Bn settlement codes.

CCP-cleared repo transactions, repo transactions where no CCP is involved, trades with Y0, T0, В0 and Z0 settlement codes, as well as settlement requests will NOT be available.

List of securities admitted for after-hours trading is available on our web-site

• MOEX web-site (www.moex.com) => Instrument’s description
• Gateway interface, "Securities" table, with the added field "Evening Session"
• The table of accordance of the stocks to boards
• By using API ISS

1. Central Order Book Т+ (board "TQBR")
2. Negotiated trades (board "PSEQ")
3. Negotiated trades with the CCP (board "PTEQ")
4. Off lots (board "SMAL")

• Securities are quoted and trades are settled in RUB.
• Trades executed in the Central Order Book T+ (TQBR) during the main or after-hours trading session will be settled on the same day (T+1).
• Trading day: main session + after-hours session

• Closing price is the closing auction price in the main session
•  The end-of-day value of the IMOEX is determined based on the closing price
• Orders submitted in the main session and not filled are cancelled before the start of the after-hours session
• Settlement codes for negotiated trades and negotiated trades with the CCP is T+N, where N>0 (trades with settlement on the same day are not available)
• No closing auction at the end of the after-hours session
• No settlement clearing after the end of the after-hours session
• Gateways are available until 00:15 MSK
•  Any orders submitted in the after-hours session and not filled are cancelled at the end of the session

The following order types will be available in the after-hours session:

NOTE: Any orders submitted in the main session and not filled are canceled at the end of the session before the start of after-hours session. The same approach is applied to orders submitted in the after-hours session, i.e. they are cancelled at the end of the session.
MOEX’s trading platform does not support Good-Till-Cancelled (GTC) orders and stop orders. In view of this, trading members using third-party trading terminals are recommended to request that the developer update the product.
Changes in prices during the after-hours session may lead to activation of stop order conditions, so participants are recommended to consider using stop conditions tracking only during the active market.

• In the after-hours session, the MOEX Russia Index (IMOEX) is calculated under ticker IMOEX2.
• The calculation method is similar to that applied to IMOEX. The calculation method for IMOEX will not be changed in view of the launch of the after-hours session. The index bulletins are sent out at the close of the after-hours session.
• The calculation base of IMOEX is not reviewed during the trading day (i.e. main and after-hours sessions), i.e. any index updates take effect from the start of the trading day under the regular procedure (which may provide for specific cases).
   

The Exchange reports*:

* the list in the table is not final
Reports that will be sent both at the end of the main session and after-hours trading session, or containing information for the trading day as a whole, will be supplemented with the "Session" field, which can take the value 1, 2 or 3 (1 – Main trading session, 2 – After-hours trading session, 3 - Trading day).
Extract from the register of trades filled:
until 19:00 MSK, provided no later than 20:00 MSK of the current trading day:
after 19:00 MSK - available after 23:50 MSK

Changes in clearing reports based on trading results

Clearing reports*:

* the list in the table is not finite

The detailed information about the changes can be found on MOEX (1, 2) and NCC web-sites

 "MS" – the main session

"ES" – the evening session

Yes, we plan to launch the online client registration service in production environment in parallel with evening trading sessions.
Provisional schedule for registering new clients on the Securities Market after the launch of online client registration during evening trading sessions:

Reports on the results of client registration of the day (MS+AS) should be sent on the next business day before 12:00 MSK.

If the trading member does not intend to trade during the after-hours session using both proprietary and client accounts (i.e. not using at all its FirmID), it must submit an application to cancel its admission to after-hours trading on MOEX Equity Market in the form set out in the Forms for Candidates/Trading Members Provided Pursuant to the Moscow Exchange Trading Rules. The application must be sent via the EDI system or hard copy.
By default, in the after-hours session on the equity market, transactions with any TCA (trading/clearing account) T+ are available. Using a request or standing order for early completion of trades with the Clearing center, which specifies the time of 19:00 MSK and the Settlement code*, all TCA that include the specified Settlement code "exit trading" at 19:00 MSK. Concluding deals with the indication of such TCA is not available in the after-trading session.

Attention: If you plan to enter into transactions for certain TCA, you do not need to submit an Application for refusal of admission / renewal of admission to participate in trading during an Additional trading session of the stock market!

Details - on the NCC website

Currently, MOEX does not provide this option with respect to both specific FirmID and specific settlement code.