OREANDA-NEWS. August 14, 2007. The board of directors of OJSC "Russian Trading System" Stock Exchange has introduced changes to the index calculation methodology of the RTS indices - the RTS Index, the RTS-2 Index, and the RTS Sector Indices.

These modifications to the RTS index calculation methodology are aimed at further enhancement of the quality of index management and even better coverage of the market situation.

As of September, 17th, 2007, the following changes to the methodology of the RTS index calculation will become effective:

1. Changes to the timing of calculation of weight caps of individual issuers

At present, the interval between the date of calculation of weight caps of individual issuers in an index and their effective date is one month. Under the new rules, calculation of weight caps will be done on the results of the trading day preceding the publication date of the new constituent list (the list is published not later than 2 weeks prior to coming into force).

2. Changes to the waiting period for issuers who have held an IPO or an SPO

New rules provide for a possibility for stocks of issuers who have held an IPO or an SPO to be included in the indices without prior inclusion as candidates in the waiting lists.

3. Introduction of a free-float definition for securities that are traded simultaneously on platforms in and outside of Russia

For stocks with conversion restrictions between depositary receipts and local shares only free-float shares of local stocks will be used for index calculation.

AFKS    Sistema JSFC
GMKN OJSC "MMC "NORILSK NICKEL"
MTSS  MTS OJSC
WBDF  WBD Foods OJSC


4. Changes to the frequency of index calculation

As of present, index calculation is tracking the changes in the price information. As of September 17th, 2007, calculation of the RTS indices will be done at 15 second intervals, similar to the calculation of many other global indices .

Definition of action by RTS in case of reorganization of companies whose stocks are included in an index
The RTS index calculation methodology is expanded to include descriptio