OREANDA-NEWS. From 28 August 2013 a new version of the MICEX Stock Exchange Admission Rules takes effect. The new version provides for the following major changes:

The term trader as the authorized representative of the trading member was eliminated. Provisions stipulating requirements for individual traders to be accredited and relevant documents to be submitted by members to be admitted to trading, were also cancelled. Trading and view-only IDs will be given to trading members for entering orders to execute trades and analyzing online market data and trading results/monitoring trading, respectively.

Requirements for candidates for trading membership to have references were eliminated.

According to new Rules, trading members that are eligible to be admitted to trading may trade only in the Main Market sector. If they seek admission to Standard and Classica sectors, additional conditions must be met.

Process for limiting powers while operating in different trading modes was changed. The changes imply that the Main Market sector”s trading member may limit the powers associated with trading and/or view-only IDs, to the following: operations only in the Main Trading mode/only in the Main Trading Mode T+/ only in the Main Trading Mode and Main Trading Mode T+.

Grounds for and terms of admission suspension/termination were unified. Process of admission suspension/termination in case of trading member”s professional securities market participant license suspension/revocation was changed.

A new section “Information Disclosure and Reporting” was introduced. It contains provisions on providing reporting documents to trading members by the exchange, disclosing market maker agreements, and other information.

We draw your attention to the fact that following the new Admission Rules introduction, the Board of Directors of MICEX Stock Exchange has decided to give effect to some provisions of the Trading Rules governing the process for entering orders into the Trading System by using electronic messages containing the hand-written signature analogue. Such provisions are as follows:


clause, paragraph 4,



clause 1.4.,

clause 1.5.5, paragraph 4,

clause 1.5.7, sub-clause b),

clause 1.5.10,

Clause 1.16.10, paragraph 3,

Paragraphs 2 and 3, clause 2.1.2,

Paragraph 3m clause,

paragraph 3, clause,

Appendix 10А,

Appendix 15 regarding trading IDs.

The Rules will shortly be available on the Exchange”s website at http://moex.com/s504