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Electronic data interchange system

The Electronic data interchange system allows for electronic documents to be used when concluding transactions or other legally valid actions, for amortisation of processes related to usage of traditional paper document management and the transfer to non paper technology, for the reduction of risks related to the operations of electronic systems that facilitate data exchange between parties, and for protection of electronic document management participants" rights.

The Electronic data interchange rules is a normative document that regulates usage of electronic documentation when organising data cooperation for parties within the electronic documentation system. The rules were developed in accordance with Russia legislation and may be used to regulate electronic document management, including on Moscow Exchange"s Equity & Bond, Derivatives, FX, Money, and Commodity Markets.

In accordance with the Electronic data interchange rules, subjects of cooperation in the process of electronic document management are:

  • The EDI organiser, namely Moscow Exchange;
     
  • The EDI subsystem organiser, namely the legal entity that signed a contract with the EDI organiser to perform the function of a EDI subsystem organiser;
     
  • The EDI participant, namely a legal entity that signed a contract with the EDI organiser concerning participation in the Electronic Data Interchange system.

The EDI Rules enter into force for an EDI participant as a result of conclusion of a contract between it the EDI organiser regarding participation in the EDI system. Following conclusion of the EDI contract, the EDI participant may, as stated, receive the software necessary to use EDI.

The EDI Rules set out the general principles of EDI between the EDI organiser, EDI subsystem organiser, and EDI participants. The list and formats of electronic documents, data cooperation regulations, ED accounting method, ED receipt confirmation method, ED storage method, and other specifics relating to EDI participant services, as well as the method and specifics of technical access to EDI are defined by Moscow Exchange rules, EDI subsystem organiser rules, and contracts made between the EDI organiser and EDI subsystem organiser.