RTS: Trade Registration And Execution Charges For Order-Driven Market To Reach 0,0075% Of The Transaction

On September 16, 2002, the RTS Board of Directors has approved new registration and execution charges for trades on the Order-driven market. In accordance with the decision, the fee paid by market participants for settlement and depositary paperwork and trade clearing (except for trades in "Gazprom") will reach 0,0005% of the trade including VAT. Previously the Board of Directors of St. Petersburg Stock Exchange (SPBEX) that serves as the marketplace for the Order-driven market has decided to charge the 0,0070% registration fee including VAT. The charge applies to all trades except for those of "Gazprom" stock.

Therefore, the accumulated fee to be paid by the Order-driven market participants for trades in stocks other than "Gazprom" will total 0,0075% of the trade. The RTS Settlement Chamber and the Depositary and Clearing Company will not charge any fees related to these trades.

The Order-driven market is a unified marketplace facilitating trades in corporate securities; market participants can directly address quotes to a potential counterpart, or submit quotes with no particular addressee in mind.

The St. Petersburg Stock Exchange, the biggest exchange trading "Gazprom" stock, serves as the marketplace for the Order-driven market. Clearing is performed by the RTS Stock Exchange; settlement - by the RTS Settlement Chamber. The electronic trading system can be accessed via the RTS Plaza Workstation or through one of the Internet trading systems gateways. Private investors can trade "Gazprom" on the Order-driven market by becoming the clients of any licensed professional market participant.