Moscow Exchange extends the list of T+2 eligible securities

On July 8, 2013, Moscow Exchange launches the next stage of T+2 implementation on its Securities Market by extending the list of eligible shares from 15 to 50 names. All sovereign bonds (OFZs) issues have been available for T+2 since March 25, 2013. Parallel trading with T+0 settlement will be available for all T+2 eligible securities until August 30, 2013. All other shares traded on the Moscow Exchange will migrate to T+2 on September 2, when T+0 settlement for all shares and Russian depositary receipts (RDRs) will end.

Furthermore, from today the Exchange offers new opportunities to Securities Market members:

• consolidated positions for T+0 and T+2;
• execution with options for no unsecured selling and no unsecured buying;
• launch of off-order book trading with Central Counterparty repo;
• new settlement code for repo trades: Y1/Y2 (introduction to be announced later).

In addition, from July 8, clearing members of the Exchange's Securities and Money markets will be required to pay contributions to the Guarantee Fund as follows:

• RUB 5 mln by all members of the T+2 sector that execute trades both on their own and clients' behalf, as well as by those executing repo trades with CCP on their own behalf;
• RUB10 mln by members executing repo trades with CCP both on their own behalf and on clients' instructions.

Clearing members who have not contributed RUB5 mln to the Guarantee Fund will nonetheless be admitted to trading on a T+2 basis, although with full prefunding required (i.e., on conditions of no unsecured selling and no unsecured buying).

NOTES TO EDITORS

About the Moscow Exchange

OJSC Moscow Exchange MICEX-RTS ("MOEX") operates Russia's largest public trading markets for equity, bond, derivative, foreign exchange and money market products as well as Russia's Central Securities Depository (CSD) and the country's largest clearing service provider, National Clearing Centre. In the year ended December 31, 2012, it ranked among the world's top-20 exchanges for equity trading by market capitalization and among the top-ten exchanges for bond trading by trading volume (by value) and for exchange-traded derivatives by number of contracts traded. Moscow Exchange has 697 issuers listed on its securities exchange, including many of Russia's largest companies.

The Moscow Exchange was formed in December 2011 as a result of a merger between Russia's two main exchange groups. The merger brought together MICEX Group, the oldest domestic exchange and operator of the leading securities, foreign exchange and money market platform in Russia, and the RTS Group, at the time the operator of Russia's leading derivatives market. This combination created a vertically integrated public trading market across most major asset classes. Following the merger the Company became an open joint stock company (OJSC) and was named Moscow Exchange. Moscow Exchange completed an initial public offering of its shares on February 15, 2013.

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