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Pre-market trading

Beginning March 2021, MOEX FX and Derivatives Markets will open at 7:00am MSK

BETTER OPPORTUNITIES FOR MARKET PARTICIPANTS:

✓ Improving availability of exchange services for clients from Eastern and Far Eastern Russia
✓ Opportunity to trade in quick reaction to news on the global market
✓ Developing business with clients from Asian countries
✓ Opportunity to trade on-exchange derivatives before the market open in Europe
✓ Building relations with Asian trading venues

Derivatives team:

+7 (495) 363-32-32

derivatives@moex.com
tdba@moex.com

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PRE-MARKET TRADING IN DETAILS

When will trading hours be expanded

1 March 2021
What time the FX and Derivatives Markets will open?

At 07:00 am MSK
What instruments will be available for trading

All instruments traded on the FX and Derivatives Markets
What trading session will pre-market trades be recorded to?

FX Market – Main trading session

Derivatives Market – Additional morning trading session
How will risk management work on the FX and Derivatives Market?

FX Market – trades executed from 7 am to 10 am will be subject to risk parameters calculated after the end of the main trading session on the previous day. The Single Limit as of the start of trading at 7 am is calculated based on these risk parameters. The risk parameters and limits are not changed before the start of pre-market trading as well as those are not changed automatically throughout pre-market trading; margin calls are not issued.

Derivatives Market – trades executed from 7 am to 10 am will be subject to risk parameters calculated after the end of evening trading session on the previous day. Collateral amount, Limit & available margin as of the start of trading at 7 am is calculated based on these risk parameters. The risk parameters and limits are not changed before the start of pre-market trading as well as those are not changed automatically throughout pre-market trading; margin calls are not issued.
What collateral management tools will be available?

Asset profiles will be available for transfers between the markets within the unified collateral pool starting 07:00 am MSK, 1 March 2021.
Are there any changes in the composition of reports provided at the end of the trading and clearing sessions?

The list of reports will remain unchanged; no new reports are expected.
Will the time at which the reports are distributed be changed?

No
What time will the trading system start?

The trading system starts at 05:50 MSK.
Are there any other specific aspects of clearing and settlement?

FX Market – the clearing mark-to-market session is performed by 07:00 am MSK. Margin requirements are determined based on risk parameters available in the trading system by 10:00 am MSK.

Derivatives Market – clearing and settlement procedures remain unchanged.