The MICEX Electronic Documents Circulation System (EDCS) enables to organize the use of electronic documents (ED) when carrying out transactions or performing other legal operations, automate the use of paper-based document circulation and implement paper-free technologies, reduce risks, connected with the work of electronic systems, securing information interaction of parties, and protect the rights of participants in electronic document circulation.

The use of electronic documents is regulated by the Rules of electronic document circulation. The Rules fully comply with the laws of Russian Federation and can be applied to regulate electronic document circulation in the MICEX currency, stock and derivatives markets.

The following entities are involved in electronic document circulation:

• the Organizer of the EDCS (the Moscow Interbank Currency Exchange);
• an Organizer of the EDCS subsystem (a legal entity, which has concluded with the Organizer of the EDCS an agreement of performing the functions of Organizer of the EDCS subsystem);
• a Participant in the EDCS (a person, which has concluded with the Organizer of the EDCS an agreement of joining the Rules of electronic document circulation).

For a Participant in the EDCS, the Rules come into force as a result of concluding an agreement of joining the Rules of electronic document circulation with the Organizer of the EDCS. After concluding this agreement, a Participant in the EDCS can receive the appropriate means of cryptographic protection of information.

The Rules of electronic document circulation establish the general principles of electronic document circulation between the Organizer of the EDCS, Organizers of the EDCS subsystems and Participants in the EDCS. The list and the formats of transmitted ED, the rules of information interaction, the order of registration of ED, the order confirming the receiving of ED, the order of storing ED and the order of technical access to EDCS are determined by the MICEX Rules, the Rules of the Organizers of the EDCS subsystems, agreement concluded between the Organizer of the EDCS and Organizers of the EDCS subsystems.