How to Begin Trading on the MICEX Stock Exchange Derivatives Market

According to the Rules of Access for Participating in Trading on the MICEX Stock Exchange Closed Joint-Stock Company Derivatives Market (hereafter – Rules of Access) and the Rules of Performing Clearing Operations on the Moscow Interbank Currency Exchange CJSC Derivatives Market (hereafter – Clearing Rules), you must maintain a set of conditions to enter the MICEX Stock Exchange derivatives market:

1. You must be included in the Catalog of Traders on the MICEX Stock Exchange derivatives market.

2. You must pay the entrance fee.

3. You must submit an application for accessing transaction settlements

4. You need to fulfill the conditions for clearing services:

submit the claim for clearing services in form of Enclosure 05 to the Clearing Rules to MICEX;
submit two copies of the Contract for Clearing Services, signed by the Participant, to MICEX;

and also:

for Clearing Participants:
open accounts with the MICEX Clearing House for accounting on the results of clearing
for Traders:
enter the settlement service of one of the Common Clearing Participants by submitting the claim for clearing services in due form (Enclosure 05 to the Clearing Rules) to MICEX.

5. You should accredit at least one trader through a power of attorney in due form:

notarized copy of the exchange broker license for making futures and options transactions given to an accredited trader by the authorized federal executive body,
notarized copy of the qualification certificate for performing certain types of professional activities on the capital issues market given to an accredited trader by the authorized federal executive body.

6. You must submit two copies of the Contract for the Provision of Integrated Technological Services (hereafter – ITS Contract).
After signing the ITS Contract you must provide the following documents:

Power of attorney for acting as a remote workstation Administrator in the form of Enclosure No. 6 to the ITS Contract ;
Power of attorney for an authorized person in the form of Enclosure No. 5 to the ITS Contract.

7. You need to customize a remote workstation.

8. You need to gain access to the MICEX Stock Exchange Electronic Document Management System in the derivatives market section.

Please Note:

If your organization is receiving clearing services from MICEX CJSC, in other words, there is a contract for the fulfillment of clearing services in the MICEX derivatives market (standard contracts) Section, this contract should be terminated by signing the Protocol for Terminating a Contract and you need to execute a Contract for Performing Clearing Services on Terminal Transactions in MICEX the Derivatives Market (Standard Contracts) Section and on the MICEX Stock Exchange CJSC derivatives market.

For information regarding executing contracts and other documents and opening individual position accounts, call: +7 495 705–9627.

For questions concerning opening accounts and transferring funds, contact the MICEX Clearing House: +7 495 745–8109, +7 495 705–9626.

For questions concerning access, contact the EBB: +7 495 745–8142.