Discrete auction for shares and depositary receipts

At 10:16 am on 25 February, Moscow Exchange launched a discrete auction for all shares and depositary receipts as the MOEX Russia Index increased by more than 15%.

Discrete auctions take place:

• for all shares and depositary receipts if the MOEX Russia Index deviates more than ±15% from the closing value of the main session of the previous trading day.
• for a single share or depositary receipt from the list of securities in the MOEX Russia Index calculation (if the current price of a security deviates by more than ±20% from the previous day's closing price).

The total time for each discrete auction series is 30 minutes; each series consists of three discrete auctions of up to 10 minutes each.