When trading in this mode, participants inform the market of their intentions to conclude transactions by entering "nontargeted" orders (without specifying a particular participant) and reach an agreement with their counterparts by entering so-called "targeted" orders (addressed to a particular participant in trading). In this mode, participants can set the time of settlement of a transaction from the current trading day (day Т) to 30 days after the closing of a transaction. Settlement codes Т0, В0:В30 are used in the Trading System to denote the day of settlement.

Settlement code	Т0	В0	В1	В2	:	B30
Day of settlement	Т	Т	Т+1	Т+2		Т+30

• to inform participants in trading of the intention to conclude a transaction on specified terms;
• to conclude transactions "without coverage" (for settlement codes В0-В30), that is without the sufficient amount of money or securities with the subsequent replenishment of reserves;
• to conclude transactions with a selected circle of counterparts.
  In compliance with the Rules of trading, a transaction is concluded automatically when significant terms, specified in two "targeted" counterorders, match.

• Trading Modes
• Negotiated Deals
• REPO Mode
• Repurchase of Bonds
• Margin Trading