In compliance with the Clearing rules and the Provision on the Guarantee fund approved on July 30th, 2008 CJSC "RTS Clearing Center" begins to perform clearing of equity trades.
As of September 22nd, 2008 the RTS Clearing Center operates as the Central Counterparty to the trades made with the RTS Clearing Center on the Order-Driven and all trades concluded on the Quote-Driven segments of the RTS Classic Market.
Effective September 26th, 2008 the RTS Clearing Center will act as the Central Counterparty to trades concluded on the RTS T+0 Market (trades with 100% pre-depositing of assets) and trades concluded on the NP "St. Petersburg Stock Exchange", perform clearing of equity trades, issue instructions to settle trades and submit them to settlement depositories and the settlement organization, calculate the commissions to be paid to the organizers of trading, clearing center, Gazprombank depository and submit instructions to pay commissions to the settlement organization.
The procedure on clearing and writing off the commissions as well as the format of the clearing reports shall remain unchanged.
Please, note that as of September 26th, 2008 participants of the Order-Driven trading are required to transfer cash assets for settlement purposes to the account of the RTS Clearing Center.
Clearing members’ cash assets registered in the NP RTS clearing registers without the facility of daily repayment shall be transferred back to the accounts registered at the NP RTS for debiting / crediting of the clearing members’ cash assets on September 25th, 2008, evening time. If the cash assets were allocated for settlement purposes, the clearing members are to credit them to the account of the RTS Clearing Center themselves.
