Main Market (T+2)

Orders
All orders are submitted only with the Y1 settlement code.
Trading member can submit orders that can be executed during the trading period:

• limit orders with specified price and amount of securities in it;
• market orders with only the specified amount of securities in it;
• Iceberg orders (limit orders with indication of a visible amount of securities in it, expressed in lots).

Thus it provides the ability to specify the type of features of order execution:

• "Insert to queue" - Order is queued and the conclusion of the deal occurs in the presence of valid counter orders; (DAY)
• "Kill balance" - after the conclusion of deals unmet residue is removed; (IOC)
• "Fill or Kill" – the order is removed if there are no valid counter orders, if matching completely.(FOK)

And to specify the type of price execution

• One price
• Different prices

The ability to specify features according to the type of order execution in the trading period of Main trading Mode T+ (T+1 order book) for equities, mutual funds and bonds:

Iceberg orders

Visible part of the iceberg order:

The minimum value of the visible part is 1 lot or 10 lots set for securities listed in Table A-6 on Notice of establishment of additional parameters of orders for deals with securities.
For other securities the minimum visible part is 100 lots (paragraph 4.1. Notice of establishment of additional parameters of orders for deals with securities)

The hidden part of the iceberg order:

The hidden value is determined by the minimum acceptable ratio of 1: 100 (the visible part of the iceberg order: the hidden part of the iceberg order. Set by Moscow Exchange resolution (see para. 1.24.2, Notifications for additional terms and conditions of trading in securities in the JSC "MICEX")

All orders submitted by trading members are met in the following order:
1. by the price of the order;
2. By the time of the order, in the case of specifying the same price in two or more orders
Trading members may also submit orders, which can be executed only during the closing auction (only for equities and DR's on equities)

• limit orders in the closing auction;
• market orders in the closing auction.

Trading Members during the trading period can access information about their own orders as well as orders with twenty best prices (ten orders for purchase and ten orders for sale) queued in the Trading System, in terms of the amount of these securities (iceberg orders for only part of the "current visible amount of securities") and price.
In case of rejection of the current equity price for set limits the discrete auction of trading period starts.

At the end of the trading period all unexecuted limit orders (including Iceberg orders) are transferred to closing auction (for equities).