Moscow Exchange: Trading Schedule From 4 December 2017

With effect from 4 December 2017, Moscow Exchange is changing the trading schedule for the Equities and Fixed Income Market and Deposit Market due to the Trading Rules adopted by the Supervisory Board of the Exchange on 30 June 2017 coming into force. The updated schedule is as follows (all times are Moscow time):

Trading mode	Start and end times
Central order book (all securities except bonds denominated in foreign currency):
Pre-trading	09:45:00 ÷ 09:59:59
Continuous trading	10:00:00 ÷ 18:44:59
Post-trading	18:45:01 ÷ 18:49:59
· Central order book (bonds denominated in foreign currency):
Trading in bonds denominated in USD	10:00:00 ÷ 18:39:59
Trading in bonds denominated in currency other than USD	10:00:00 ÷ 18:44:59
Negotiated trades
Z0 settlement code	09:30:00 ÷ 18:30:00
T0, B0-B30 settlement codes	09:30:00 ÷ 18:59:59
Central order book Т+:
Opening auction	09:50:00 – 09:59:59
Trading period (stocks, DR on stocks, OFZs, bonds denominated in USD)	10:00:00 - 18:39:59
Trading period (mutual fund shares, mortgage participation certificates, ETF)	10:00:00 - 18:44:59
Closing auction (stocks, DR on stocks, OFZs, bonds denominated in USD)	18:40:01 ÷ 18:50:00
Post-trading (mutual fund shares, mortgage participation certificates, ETF)	18:45:01 ÷ 18:49:59
Anonymous repo with the CCP: trading period	10:00:00 - 18:59:59
Negotiated repo with the CCP	09:30:00 ÷ 18:59:59
Deposits with the CCP – anonymous orders
Entry of orders and registration of quotes	10:00:00 ÷ 18:59:59
Concluding deposit contracts	19:00:00 ÷ 20:45:00
Deposits with the CCP – negotiated orders
Entry of orders and registration of quotes	09:30:00 ÷ 18:59:59
Concluding deposit contracts	19:00:00 ÷ 20:45:00
Negotiated trades with the CCP	09:30:00 ÷ 18:59:59
Settlement of trades Т+: negotiated trades	17:00:00 – until the central counterparty closes out positions under trades T+ and repos with the CCP
Settlement of trades Т+: repo	17:00:00 – until the central counterparty closes out positions under trades T+ and repos with the CCP
Settlement of derivative contracts	09:00:00 - 17:30:00
D bonds – negotiated trades
Z0 settlement code	09:30:00 ÷ 18:30:00
T0, B0-B30 settlement codes	09:30:00 ÷ 18:59:59
D bonds – central order book	10:00:00 ÷ 18:44:59
D stocks – negotiated trades
Z0 settlement code	09:30:00 ÷ 18:30:00
Any settlement code except Z0	09:30:00 ÷ 18:59:59
D stocks – central order book	10:00:00 ÷ 18:39:59
Repo in stocks
Z0 settlement code	09:30:00 ÷ 18:30:00
Rb and Sn settlement codes	09:30:00 ÷ 18:59:59
Repo in bonds
Z0 settlement code	09:30:00 ÷ 18:30:00
Rb and Sn settlement codes	09:30:00 ÷ 18:59:59
Repo in stocks (foreign currency)
Z0 settlement code	09:30:00 ÷ 18:30:00
Rb and Sn settlement codes	09:30:00 ÷ 18:59:59
Repo in bonds (foreign currency)
Z0 settlement code	09:30:00 ÷ 18:30:00
Rb and Sn settlement codes	09:30:00 ÷ 18:59:59
Qualified investors – repo (foreign currency)
Z0 settlement code	09:30:00 ÷ 18:30:00
Rb and Sn settlement codes	09:30:00 ÷ 18:59:59
Qualified investors – repo
Z0 settlement code	09:30:00 ÷ 18:30:00
Rb and Sn settlement codes	09:30:00 ÷ 18:59:59
Qualified investors – negotiated trades
Z0 settlement code	09:30:00 ÷ 18:30:00
Т0, В0-В30 settlement codes	09:30:00 ÷ 18:59:59
Qualified investors – negotiated trades with the CCP	09:30:00 ÷ 18:59:59
Qualified investors – central order book (bonds)	10:00:00 ÷ 18:44:59
Qualified investors – central order book Т+	10:00:00 ÷ 18:39:59
Odd lots (stocks, DRs on stocks)	17:00:00 ÷ 18:39:59
Odd lots (mutual funds, mortgage participation certificates)	17:00:00 ÷ 18:44:59