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The new version of the Rules of admission to trading on the MICEX SE derivatives market and the Rules of trading on the MICEX SE derivatives market have come into force today. The launch of the MICEX SE derivatives market is scheduled for the end of June. The first instrument to be traded on the market is the MICEX Index futures.
On 7 June 2007, the Directorate of the MICEX SE decided to put in force, as of 8 June, the above-mentioned rules, adopted by the Board of the MICEX SE on March 20, 2007, and registered on April 19, 2007, by the RF Federal Service for Financial Markets. The new versions of the Rules of admission and the Rules of trading come into force with the exclusion of clauses referring to recognizing orders as electronic messages signed by the analog of the manual signature of the trader of a participant in trading. The date when these clauses enter into force will be determined after the MICEX SE and participants in trading sign the agreement establishing the order and the terms of concluding transactions electronically.
The Rules of admission to trading on the MICEX SE derivatives market adopted by the Board of the MICEX SE on 31 January 2007 and registered by the RF Federal Service for Financial Markets on 1 March 2007 and the Rules of trading on the MICEX SE derivatives market adopted by the Board of the MICEX SE on 11 December 2006 and registered by the RF Federal Service for Financial Markets on 16 January 2007 are invalidated as of the day when the new versions of the Rules of admission and the Rules of trading are put in force (8 June).
On 7 June 2007, the Board of the MICEX SE decided to adopt the following organizations as participants in trading on the MICEX SE derivatives market: • Commercial bank Petrocommerce (Moscow); category of participation: “General Clearing Participant”; First Czech-Russian Bank (Moscow); category of participation: “General Clearing Participant”; KIT Finance (St.Petersburg); category of participation: “Individual Clearing Participant”; • Commerce Investments (Moscow); category of participation: “Individual Clearing Participant”; • Commercial bank Slavyanski Credit (Moscow); category of participation: “Individual Clearing Participant; • REGION Broker Company (Moscow); category of participation: “Individual Clearing Participant”.
The total number of participants in trading on the MICEX SE derivatives market is 22 organizations, including 6 lending organizations and 16 non-lending organizations.
The Board of the MICEX SE has adopted the rate of the exchange charge for transactions in futures contracts in the amount of 0.25 rubles per contract. Considering the rate of the clearing charge (0.50 rubles per contract) and the charge for the technological access services (0.25 rubles per contract), the total costs are 1 ruble per contract. The Board has also established a three-month marketing period, beginning with the launch of trading on the MICEX SE derivatives market, during which the total amount of charges paid by one participant during one month will be limited to 5000 rubles.
Find the text of the new versions of the Rules of admission to trading on the MICEX SE derivatives market and the Rules of trading on the MICEX SE derivatives market on the web site of the MICEX SE (http://www.micex.ru/stock/docs/).
