Trading rules Equity & Bond Market amended

Please be advised that the trading rules² for the Equity & Bond Market have been amended¹ thus:

1. The settlement cycle for the Standard Sector has been changed from Т+4 to Т+2, with the option for the exchange to set another settlement cycle.
2. Settlement of trades executed following the settlement of derivatives contracts is to be done in the Standard Sector in T+3 instead of the previous T+5.
3. The Main Market's main trading session may be extended to 8:00 pm MSK.
4. The trading fee may now be paid on the day following the trade execution date.
5. The rules now provide for compensation in the form of a block of securities which may be given by a buyer to a seller (issuer/owner) as partial collateral upon placement or sale of a security to activate the order if the buyer has insufficient funds.
6. From 7 April, Qualified investors may execute repo in securities that have not been admitted to trading.

¹ The exchange will inform trading members of the effective dates of each amendment listed below. The changes are preventive and aimed at the development of trading and settlement systems.

² The trading rules for SE MICEX, approved by SE MICEX's Board of Directors on 18 October 2013 (Minutes no. 10) and registered by the Bank of Russia Financial Markets Service on 20 December 2013.

For further information, please contact the Public Relations Department at (495) 363-3232.