RTS Technical Center To Be Transformed Into The Derivatives Market Clearing Centre

Following the RTS Derivatives Market Committee recommendations, the RTS Board of Directors has decided at its August 22, 2002, meeting to form the derivatives market clearing centre based on the capabilities of the RTS Technical Centre. In the near future all software, hardware and human resources not involved in derivatives trades clearing will be transferred from the RTS Technical Centre to the RTS Stock Exchange; subsequently, the RTS Technical Centre will be given the name the RTS Clearing Centre.

To ensure reliability of risk management systems on the RTS Derivatives Market, the Partnership plans to undertake a series of measures to increase the Clearing Centre's capitalization and improve risk management technologies. The RTS Clearing Centre will focus entirely on clearing derivatives trades on FORTS segment of the RTS market.