OREANDA-NEWS. December 31, 2010. During the period from 1 to 10 January, 2011, trading in the MICEX Group’s markets and settlements following the results of trading will not be held due to New Year holidays in the Russian Federation.

On December 31, 2010, trading and settlements following the results of trading will not be held in the stock market of the MICEX Stock Exchange.

December 31, 2010, is a “no settlements” day in the Clearing system during trading in the stock market of the MICEX Stock Exchange.

31 December, 2010, is a “no trading” day in the MICEX foreign exchange market, the MICEX SE’s derivatives market, the MICEX derivatives market and the NAMEX commodity market.

On December 31, 2010, trading will not be held in the government securities market. Deposit transactions at fixed interest rates on standard terms and operations involving the provision of lombard loans to credit institutions at fixed interest rates will not be conducted. Credit institutions’ applications/orders for "on demand" deposits will be accepted only during the first session (collection of participants’ orders: from 11:00 till 12:00, the entering of the Bank of Russia’s reciprocal orders: from 12:15 till 12:55 Moscow time).

The following schedule of transactions and the provision of documents in the MICEX Clearing System for the MICEX derivatives market is established for 31 December 2010:

The time of transactions stipulated in the Trading Day Schedule in the MICEX Derivatives (Standard Contracts) Market Section on December 31, 2010:

#

Beginning

End

Operation

a)

09:45

11:00

Settlement of net obligations

b)

-

-

Setting the size of changes in the deposit margin

c)

-

-

Adding funds to the composition of the deposit margin

d)

-

-

Return of excess deposit margin

e)

-

-

Setting cost limits of open positions for Trading Participants and position accounts

f)

-

-

Registration/cancellation of registration of Clients of Participants in Clearing in the System of Trading, Clearing and Settlements for Futures and Options (STCSFO)

Opening/closing additional position accounts in STCSFO

g)

-

-

Initiation of the procedure of forced liquidation of positions during the trading session

h)

-

-

Clearing session

i)

-

-

Settlement of deliveries under deliverable futures on shares

k)

-

-

Control of the proportion of foreign currency in the deposit margin, the liquidity ratio of the deposit margin and the size of the deposit margin of a Participant in Clearing for the purpose of taking a decision on the realizion of currency accepted into the deposit margin

l)

-

-

Reducing the size of contribution to the Collective Fund

m)

-

-

Depositing funds to the account of contribution to the Collective Fund

The time of the provision of documents by the Clearing Organization and the time of receipt of documents by the Clearing Organization in the course of interaction with participants in clearing on 31 December 2010:

#

Beginning

End

Operation

a)

-

-

Receipt of documents:
- applications for forced liquidation of positions of a Trading Participant;
- applications for the transfer of positions of a Participant in Clearing;
- information required for the registration/cancellation of registration of a Client;
- information required for opening/closing an additional position account;
- applications for the provision of settlement services,

         applications for the termination of settlement services;
- applications for the provision of clearing services;
- applications for the reduction of the size of contribution to the Collective Fund.

b)

09:30

18:00

Provision of documents:
- reports on the results of trading for previous days;
- other documents.

c)

-

-

Provision of documents:
- reports for the current trading day.

The time of the provision of documents by the Clearing Organization and the time of receipt of documents by the Clearing Organization in the course of interaction with the Settlement Organization and Organizers of trading on 31 December 2010:

#

Beginning

End

Operation

a)

-

-

Providing the Settlement Organization and Organizers of Trading with notifications of accepting participants in clearing for the provision of clearing services by the Clearing Organization and terminating the provision of clearing services to participants in clearing by the Clearing Organization.

 

-

-

Receiving from the Organizer of Trading notifications of accepting an organization as a member of the MICEX Derivatives (Standard Contracts) Market Section / including an organization in the composition participants in tarding in the MICEX SE’s Derivatives Market, terminating its membership in the MICEX Derivatives (Standard Contracts) Market Section/ excluding it from the composition of participants in tarding in the MICEX SE’s Derivatives Market.

b)

 

 

Receiving notifications of opening/closing the accounts of Participants in Clearing from the Settlement Organization.

c)

09:45

10:00

Receiving the report on funds on the trading accounts of Participants in Clearing from the Settlement Organization.

d)

09:45

11:00

Providing the Settlement Organization with the "Instructions for the effecting of settlements of trades and collaterals for guarantees" in the framework of settlements of net obligations of Participants in Clearing.

e)

09:45

11:00

 

Receiving from the Settlement Organization reports on the performance of the "Instructions for the effecting of settlements of trades and collaterals for guarantees" in the framework of settlements of net obligations of Participants in Clearing.

f)

-

-

Providing the Settlement Organization with the "Instructions for the effecting of settlements of trades and collaterals for guarantees" to ensure the deposition/reimbursement of funds to/from the composition of the deposit margin of Participants in Clearing.

g)

-

-

Receiving from the Settlement Organization reports on the performance of the "Instructions for the effecting of settlements of trades and collaterals for guarantees" to ensure the deposition/reimbursement of funds to/from the composition of the deposit margin of Participants in Clearing.

h)

-

-

Receiving the Register of transactions from the Organizer of Trading.

The parameters of the Risk management System established for the period of New Year holidays in the MICEX foreign exchange market and the MICEX derivatives market will be announced later.

The following procedure for trading and settlements is established for the period from 27 to 30 December 2010 and January 11, 2011:

The Market for government securities and the money market (MICEX)

On 27, 28, 29, 30 December, 2010, and January 11, 2011, trading in the government securities market will be held as usual.

On December 28, 2010, the direct repo auction for a period of 14 days will be held with settlement code S1 (the date of execution of the first leg of repos: December 29, 2010; the date of execution of the second leg of repos: January 12, 2011). On 30 December 2010 the direct repo auction for a period of 12 days will be held with settlement code S0 (the date of execution of the first leg of repos: December 30, 2010; the date of execution of the second leg of repos: January 11, 2011). Repos at a fixed rate will be held with the date of execution of the second leg of the repo on January 11, 2011.

On December 30, 2010, credit and deposit transactions will be conducted and credit institutions’ applications for "on demand" deposits will be accepted as usual (the collection of applications of participants in the second session: till 17-00).