Admission to Trading

The Procedure for Admission to Bank of Russia Deposit and Credit Operations

Credit organizations wishing to participate in Bank of Russia deposit and credit operations via the MICEX Trading System (hereinafter also referred to as “Traders”) must execute the following agreements in the sequence set forth below:

А) For participating in deposit operations: with the OSM Settlement Center

the bank account contract (supplementary agreement to the contract) stipulating the Bank of Russia’s right to collect a fine for non-fulfillment (improper fulfillment) of the Trader’s obligations under the deposit trade through a collection order against the Trader’s account in the order of priority established by law, without instruction of the Trader holding the account.

The MICEX Settlement House Department of Corresponding Accounts and Settlements (095) 745–81–09, (095) 705–96–26
Special features and the procedure for connecting to the MICEX SH Electronic Settlement System are available on the MICEX SH website.

Regional OSM Settlement Centers:

ZAO St. Petersburg Settlement Center;
ZAO Siberian Settlement Center (Novosibirsk);
ZAO Nizhegorodskiy Settlement Center (Nizhny Novgorod);
ZAO Rostov-on-Don Currency and Stock Exchange Settlement House (Rostov-on-Don);
ZAO Ural Regional Currency Exchange Settlement House (Yekaterinburg);
ZAO Asian-and-Pacific Interbank Currency Exchange Settlement House (Vladivostok);
ZAO Samara Currency Interbank Exchange Settlement House (Samara).

Credit organizations may use the bank accounts they have already opened with the above listed Settlement Centers for settlements on deposit transactions with government securities or foreign currency, or they may choose to open an account with any of the above listed Settlement Centers by executing a bank account contract.

For participating in credit operations: with an authorized settlement non-bank credit organization (SNCO)

the primary account contract (supplementary agreement to the contract) stipulating the Bank of Russia’s right to charge a fee for the right to use credit from the bank’s primary account without instruction from the bank holding the primary account through a collection order issued by the Bank of Russia’s authorized institution in accordance with the procedure established by Russian law and Bank of Russia regulations, and also for effecting payments from the bank’s primary account that exceed the balance of that account within the framework of the general lending agreement.

B) With the Bank of Russia for participating in deposit operations:

the General Agreement on Deposit Trading in Russian currency using the MICEX Electronic Trading System (the form of the agreement is presented in the Bank of Russia Directive dated the 27th of November 2003 No.166-T); to execute this agreement, a credit organization must contact the Bank of Russia’s territorial administration where the organization’s corresponding account was opened;
the Corresponding Account(s) / Sub-Account(s) Contract (supplementary agreement(s) to the contracts) opened with the Bank of Russia and stipulating the Bank of Russia’s right to collect a fine for the credit organization’s non-fulfillment (improper fulfillment) of its obligations under the deposit trade from the corresponding account(s) / corresponding sub-account(s) without the order of the credit organization holding the account by way of the Bank of Russia’s collection order, in the order of priority established by the law.

For participating in credit operations:

the Loan Agreement for the Provision of Credit in Russian Currency by the Bank of Russia Secured by Pledge (Blocking) of Securities (the form is presented in the Bank of Russia’s Regulation dated the 4th of August 2003 No.236-P); to execute this agreement, a credit organization must contact the Bank of Russia’s territorial administration where the organization’s corresponding account was opened;

other Contracts (Supplementary Agreements) provided for by the regulations of the Bank of Russia.

The Bank of Russia’s Moscow Main Territorial Administration, tel.: (095) 959–36–72, 747–10–51, 747–10–59, 950–08–34, or the Bank of Russia’s Main Territorial Administration where the credit organization’s corresponding account was opened.

C) With MICEX:

Agreement for Deposit and Credit Trading with the Bank of Russia on the ZAO MICEX Electronic Trading System – in the form presented in Supplement No.2 to the Rules of Trading in Bank of Russia Deposit and Credit Operations with Credit Organizations Using the ZAO MICEX Electronic Trading System;
Contract of Acceptance of the EDC Rules if the contract has not already been executed.

D) With a Technical Center (MICEX or an organization acting as MICEX’s regional representative):

Contract for Providing Technological Access to the MICEX Software and Hardware Complex if the contract has not already been executed, or the Supplementary Agreement to the Contract for Providing Technological Access to the MICEX Software and Hardware Complex Adding the Bank of Russia Deposit and Credit Operation Trading Sub-System to the List of MICEX Software and Hardware Complex Sub-Systems to Which the Trader is Given Technological Access.

The contracts are to be executed in duplicate, attested with the organization’s seal and signed by the head of the organization. If the person signing the contracts for the Trader has the right to sign on the basis of a power of attorney or any other document, a notarized copy of that document must be produced.

The list of documents to be submitted to MICEX:

a card with signatures of the persons with the right of the first and second signature and the seal of the credit organization, executed in accordance with the requirements of the regulations of the Bank of Russia (or a notarized copy thereof);
a copy, certified by the signature of an authorized person and the seal of the credit organization, of the power of attorney issued to a representative of the credit organization authorizing him to sign contracts with ZAO MICEX (if the contract is to be signed by persons not entitled by the Charter to act in the name of the credit organization without a power of attorney);
a notarized copy of the banking license if it has not already been submitted;
a notarized copy of the credit organization’s Charter (including duly registered amendments and additions thereto) and an extract, certified by the signature of an authorized person and the seal of the credit organization, from the meeting minutes containing the resolution of the credit organization’s authorized body electing the sole executive body of the credit organization, and a copy, certified by the signature of an authorized person and the seal of the credit organization, of an appropriate document appointing other persons to act in the name of the credit organization without a power of attorney if these documents have not already been submitted;
application for admission to trading in the Electronic Document Circulation System for making Bank of Russia deposit and credit trades with credit organizations using the MICEX Electronic Trading System;
Trader’s data record card;
powers of attorney in the names of the Traders authorized to make Bank of Russia deposit and credit trades with credit organizations using the MICEX Electronic Trading System, in the form established in Supplement No.3 to the Rules;
powers of attorney in the names of officials authorized to receive reports on the results of deposit trades on behalf of the Trader, in the form presented in Supplement No.4 to the Rules.

Contacts

For questions regarding the execution of contracts and other documents required for credit organizations’ admission to participate in Bank of Russia deposit and credit operations through the MICEX Trading System

Telephone: +7 (495) 363–32-32
Fax: +7 (495) 202–57–46