RUSSIAN FEDERATION

FEDERAL LAW

About tendering

Adopted by the State Duma 2 November 2011

Approved by the Federation Council November 9, 2011

(reed. Federal Act of 29 December 2012 N 282-FZ-

Russian legislation collection, 2012, N 53, st.

7607; of the Federal Act of 23 July 2013 N 251-FZ-Assembly

Russian Federation, 2013, N 30, st. 4084;

Federal Law of 21 December N 379-FZ-Assembly

Russian Federation Federation, 2013, N 51, st. 6699;

Federal Law of June 2015 N 210-FZ - Collection

Russian Federation legislation, 2015, N 27, st. 4001;

Federal Law of July 2015 N 231-FZ -Collection

Russian Federation legislation, 2015, N 29, st. 4357;

Federal Law 30 December 2015 N 427-FZ-Assembly

Russian legislation, 2015, N, st. ; Federal

the law of December 30, 2015. N 428-FZ-Legislative Assembly

Russian Federation, 2015, N, st. )

Chapter 1: General provisions

Article 1: Scope of this Federal Law

1. The Federal regulates the relationship,

emerging on organized trading on the commodity and (or) financial

markets, sets requirements for organizers and participants

trading, determines the basis of state regulation of the said

activities and monitoring of its implementation.

2. This Federal Law does not apply to

for relationships that arise during contract formation

trading in the auction of the

Russian legislation, and

wholesale market (power)

Fed by the Law of March 26 2003 N 35-FZ

"About Electricity".

Article 2: Key Concepts Used in this

Federal Law

1. The Federal

Key Concepts:

1) Stock trades-organized trading conducted by the exchange;

2) Internal control control control

license compliance

stock exchange or system trade requirements Federal requirements

laws and adopted in s s

rules of organized trading, as well as articles of association and

other documents of the trade organizer (ed. Federal Law

dated July 23, 2013 N 251-FZ-Legislative Assembly of the Russian Federation

Federation, 2013, N 30, art. 4084);

3) request-clause and (or) accept offering

one or more contracts on organized trading;

4) control or

indirectly (

membership in a controlled organization and (or) based on treaties

trust Property, , and (or) of the simple

partnership, and (or) instructions, and (or) stock agreement, and

(or) other agreement of which implementation

rights, of certified shares (shares) of the control entity

50 percent in the

control

or authority to (select)

single executive and (or) more than 50% of the composition

collegied control collegie;

5) market maker -

contract, one of which is the trade organizer,

receives for obligations on prices, demand,

and trading (or) tools

foreign currency and (or) by on conditions,

such a contract;

6

Commodity and (or) financialorganized

markets based on an exchange license or a trading system license;

7) organized - -bargaining for on the regular

based on a set tolerance policy

to bid for their sales contracts

products, valuable papers, foreign currencies,

contracts that are derived financial instruments;

8 -controlled

legal person under direct or indirect control

controlling person;

9) Product - not checked out from turnover (except valuable

paper, foreign currency) of a specific kind and quality, of any

aggregate state approved;

10 Participant In

tendering;

11) financial organization-professional market participant

valuable papers, clearing organization, control company

investment fund, investment of and

non-state fund, specialized

Investment Fund Depository, of the mutual investment fund and

non-state pension fund, equity investment

foundation, credit organization, insurance organization,

Non-State pension fund, trade organizer.

2. The terms "central counterparty", "clearing broker",

" supplies and" clearing rules " are used in

true Federal Law in Value, By Federal

Law From 7 February 2011 N 7-FZ " About Clearing and Clearing

activities

activity .

Article 3: Treaty on the Provision of Services for the Implementation of the

Biders

1. By Agreement on Services for Organized

trade organizer undertakes to comply with the rules

regularly (systematically) provide services

organized trades, bidders

specified services. Charges In Cases,

federal laws.

2. Conclusion service

tenders -Accession to

specified contract, of condition rules

tendering.

3. Trade Organizer has the right to refuse

Services for Organized Tender Services

of the trading

requirements, of rules for

bidders. On this compensation, related damages

A failure to trade in the bidder is not carried out.

Article 4: Rules of Organized Tenders

1. Trade Organizer has the right to conduct organized trading

subject to registration of organized trading rules in Central

Bank of the Russian Federation (further - Bank of of the Russian Federation)

Federal Law of 23 July d N 251-FZ - Collection

Russian legislation, 2013, N 30, sect. 4084).

2. Trade Organizer has the right to conduct organized

(stock) sections based on groups (categories)

bidders, and (or) types of contracts, and (or)

Items in contracts contracts, and (or)

Other

grounds, set by organized rules. In

case trade organizer to approve individual rules

organized tenders for each trading (stock) section.

3. The rules of tendering should contain:

1) Requirements for bidders;

2 requirements for and passways

bidders;

3) Specify the time or order of the time to be spent

trading;

4) Order of persons to participate in organized trading;

5) (or)

(or)

foreign currency to trades;

6) the grounds and order of origin, suspension, or termination

concluding contracts, that are derivatives

tools, of the repo treaties (to the red. Federal Law

December 2013 N 379-FZ-Legislative Assembly of Russian

Federation, 2013, N 51, art. 6699);

7) of the listing rule (sensitivity) of the security;

8) Order and Order Conditions, Volume Requests, in

which specifies a clearing broker;

9

including topics that this mapping is defined, , and

how to commit a match;

10) Name Clearing of the organization if

organised trading is performed by clearing;

11) the

trading is done without central counterparty and (or)

with the Central of the counterparty, and the name of the person

{ \cs6\f1\cf6\lang1024}Central Counterparty Function;

12) order in arranged contracts, in

Volume Contracts with Central Counterparty;

13) specifying on the consequences of submitting applications and concluding contracts

at organized trades in violation of rules of organized trading,

in (or)

software tools, in

information and communication links, with

organised trading;

14 Specify and order of suspending, termination, and

renewed organized trading;

15) requirements for market makers and the order of implementation

their and duties, if functions

responsibilities Market Maker provides rules

tendering;

16) different positions in matches with this Federal

law.

4. Those in paragraphs 5 to 7 of Part 3 of this Article of the Regulation

included in organized tenders if

trading implements or intends to implement organized trading

commodities, securities, foreign currency, and

contracts

derived financial tools.

5. Organized tendering rules can be contained in one or

several documents of the trade organizer.

6. Tender Rules can contain

Federal locations, not

conflicting Federal Law and Regulations

The Bank of Russia (to the red). The Federal Act of of July N

251-FZ -Collection of Russian legislation, 2013, N

30, article 4084).

7. In accordance with the rules of organized tendering,

may include other contracts, not specified in paragraph 7 of the Part

Article 2 of this Federal Law.

8. one-way trade

make changes to the rules for organized trading.

9. The rules for trading and changes made to them

must be registered with the Bank of Russia. Federal Act of

23 July 2013 N 251-FZ- Assembly of the Russian

Federation, 2013, N 30, st. 4084).

10. Rules of Organized Tendering and Changes

in no earlier than five days after the drill-down

-

Federal Law, if no other period of entry into force is defined

trade organizer for Federal

law. Changes in biddled -related

exception to these clauses of theagreement

or modification of an arbitration court, does not come into force earlier than

three months after disclosure of this according to

Article 22 of this Federal Law.

11. Trade Organizers

organized trades, on which contracts that are

derived financial tools mustapprove

BOM of these conventions

Bank of Russia regulations. Specified contract specifications, a

changes must also be registered with the Bank

Russia Federal Law of 23 July 2013 N 251-FZ

The legislation of the Russian Federation, 2013, N 30, st.

4084).

12. Organized trading rules can be

cases, when treaties <

prisoners as a result of failures and (or)

software tools, in

information and communication tools links with

provides organized bidding.

Chapter 2: Trade organizers. Biders

Article 5: Trade Organizer

1. Trade Organizer can only be economic

company, created by law

Federation.

2. Person who does not have license or Trade

systems are not allowed to perform organized trading.

3. Trade Organizer has no right to engage in production,

trading and activity activity credit

organizations, activity in the registry of owners

papers, activities on management equity investment

funds, equity investment and non-state funds

pension funds, activities of specialized depositaries

investment funds, investment funds and

non-State funds, shareholdings

investment funds, activities of non-State pension

pension and pension insurance funds.

4. Trade Organizer has the right to be the central

counterparty.

5. The Trade Organizer

organizing with other activities, must create for

one organized bidding activity

or several individual organizational units.

6. The Trade Organizer

Other Other Activities

must take steps to prevent and resolve conflicts

interests, of the trade organizer

merge. If conflict of trade organizer

activity of organized trading

other activities, of which bidders or

{ \cs6\f1\cf6\lang1024}Central Counterparty functionality{ \cs6\f1\cf6\lang1024

}

advance, resulted in actions of the trade organizer,

or Features

Central counterparty, trade organizer at his own expense

compensate losses in order, civilian

Russian legislation.

7. Trade Organizer is obliged to exercise control:

1) compliance bidders

rules

members and other persons of the specified rules;

2 biddled

commodities, securities and their issuers (obligations) requirements

arranged rules for organized trading;

3) for the issuer and other persons to comply with the contract terms,

The

base of which the security was allowed to be organized

tendering;

4) operations performed at organized trades in

cases, installed by federal laws

compliance with them by Bank of Russia regulations, including in

preventing, and of the Suppression

}

using insider and (or)

market (reed. Federal Law of 23 July 2013 N 251-FZ-

Russian legislation collection, 2013, N 30, st.

4084).

8. control control to the right

run checks, referrals

Russia, Request from bidders and Issuers

required documents (including those received by the bidder from

its client), explanations, written or oral information

(Ind. Federal Law of 23 July 2013 N 251-FZ-Assembly

Russian legislation, 2013, N 30, sect. 4084).

9. Trade Organizer is required to

consolidated financial accountability in

Federal Act of July 27, 2010 N 208-FZ

About consolidated financial statements.

10. The report

annual (financial) reporting, also

consolidated financial statements.

11. Annual Accounting (Financial) Reporting by Organizer

trade,

consolidated financial

must be audited.

12. Trade Organizer must

and documents bound with

organized trading, and daily backup of such

information and documents in with requirements

installed normative by the Bank of the (in Ed.

Federal Law of 23 July d N 251-FZ - Collection

Russian legislation, 2013, N 30, sect. 4084).

13. Trade Organizer must provide

Russia Documents and Information

form with electronic signature in format, order and time frames

have been set by Bank of Russia regulations. Federal

Act of 23 July 2013 N 251-FZ - The Law Collection

Russian Federation, 2013, N 30, est. 4084).

14. Trade Organizer is required to maintain a registry of bidders

and their clients, application registry, and registry of prisoners in organized

bargaining according to Bank of Russia regulations

(Ind. Federal Law of 23 July 2013 N 251-FZ-Assembly

Russian legislation, 2013, N 30, sect. 4084).

15. The Trade Organizer has the right to insure the risk of

responsibility before bidders for , or

improper performance of its obligations.

16. Trade Organizer must approve an internal document

o corporate

requirements set by a normative by the Bank of the Russian Federation.

Specified The document is approved by the Board of Directors (observatory

tip) trade (Part 16 Federal

Law of June 29, 2015 N 210-FZ-Legislative Assembly

Russian Federation, 2015, N 27, est. 4001).

Article 6: Requirements for controls and employees

Organizer

1. Person Implementing Single Executive

organ, members of directors (supervisory board) and members

collegiation of the body's provider

branch manager, chief accountant, other official,

for which accounting accounting

person, responsible for risk management

(Head of Separate Structural Unit, Responsible

for risk management , Service Manager

Internal Audit, Controllers ( Internal

control), head of the organizational unit created for

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}

must have higher education and other requirements,

The

envisaged by this Federal Law (under the law). Federal

Law of 29 June 2015 N 210-FZ-Legislative Assembly

Russian Federation, 2015, N 27, est. 4001).

2. Persons specified in Part 1 of this Article, except

accountant's

holds accounting, must match

The Bank of Russia's requirements for professional experience and

qualifying requirements, in number of on-hand requirements

qualifying

organized trading (to Federal Act of 23 July 2013

g. N251-FZ-Assembly of Russian legislation, 2013,

N 30, article 4084).

3. Trade Organizer

(review board) to be responsible for:

1) Approve Rules of Organized Tendering;

2)

tendering;

3) Approval of documents, defining the order of the organization and

internal audit and of the system

risk management of trade organizer, manager approval

internal audit, workplan assertion

internal auditor, internal on corporate

control of the trade organizer (in the red. Federal Act of 29

June 2015 N 210-FZ - Collection

Federation, 2015, N 27, art. 4001);

4) Assertion on the exchange board (section board) and

composition of this board;

5) Approval of of the document that defines measures

event organiser and directed

Continuity of Implementation

tendering;

5-1) election of the sole organizer authority

{ { see also | Federal Law of June 29, 2015 } } N

210-FZ -Russian Law Assembly, 2015,

27, art. 4001);

5-2) electing members of the executive body

trade organizer (item 5-2 introduced by Federal Law

June 2015 N 210-FZ - Collection

Federation, 2015, N 27, art. 4001);

6) other issues, for this

Federal in

The

(Supervisory Board) of the bid organizer.

4. Trade Organizer must have collegiate

The

executive body.

5. has no power to delegate to

single of the person's

control organization).

6. Faces, specified in of Part 1 of this article, cannot

to be (in the red. Federal Law of June 29, 2015. N 210-FZ-

The legislation of the Russian Federation, 2015, N 27, st.

4001):

1) persons who have the function alone

executive body, included in composition of

executive body or service manager

internal control (controller) of financial organizations in

committing these organizations for for which they had

invalidated licenses for implementation

activity, or violations that have been suspended

the specified licenses and the specified licenses were revoked

(withdrawn) due to these violations, if from the day

such a cancellation has been less than three years or if

specified persons have legal judgments that have entered into force,

facts of committing to

at bankruptcy, premeditated and (or) bogus

bankruptcy;

2) persons who have not expired during

they are considered to be punished by

disqualification;

3) of the person for crimes in in

economic activity or crimes against state

authority;

4) persons whose qualifications have been revoked

federal executive

financial markets, Bank of Russia, if from the day of such cancellation

has been less than three years. Federal Act of June 29,

g. 210-FZ-Assembly of Laws of the Russian Federation, 2015,

N27, st. 4001).

7. Internal control (Controller)

can

function of the sole executive body of the trade organizer

or The organizational unit of the

organized trading activity.

8. If you decide to suspend or premater

termination of the authority's

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}

}

decision to accept temporary single-person

executive or of the new Single

organ. of this function of the interim sole executive

organ can only be executed by a person that is the state

trade organizer or a member of his board

(tip board or The

executive of the body. The person of the function of the interim

single executive organ of the trade organizer

meet the requirements of parts 1 and 2 of this article.

9. Election (destination) of the function

single executive organ, number election

(destination) for more than one month Single

executive body, member of executive board

trade organizer, internal control

(comptroller), of person for organization

risk management system ( of the individual structure

organizational units, responsible for the management system

risks) of the trade organizer

structural organizational unit for implementation

tendering

(in

Combine Organized Tendering Activities

activities) allowed with Bank prior approval

Russian (to the red. Federal Law of 23 July 2013 N 251-FZ-

Russian legislation collection, 2013, N 30, st.

4084; of the Federal Act of June 29, 2015. N 210-FZ-Assembly

Russian legislation, 2015, 4001).

10. Trade Organizer is required to send to

written form in Russia

(destination) of the person . Specified

notification must contain information, supporting compliance

requirements, set by 1, 2 and 6 of this article.

Requirements for order and the presentation of the specified notification

defined by by the normative of the Bank of of the Russian Federation. Bank of Russia in

10 working days from the day of receipt of the specified notification

gives in a written permission to choose (destination)

corresponding for title or rejection of his election

(destination).

candidate requirements, parts 1, 2, and 6 of this

Articles, or in include in incomplete or

false information (in the red. Federal Act of 23 July 2013

g. N251-FZ-Assembly of Russian legislation, 2013,

N 30, article 4084).

11. If the Bank of Russia was previously given consent to election

(appointment) of candidate for position specified in Part 9 of this

Articles, consent of the Bank of the Russian election of (destination)

candidate for does not require the same post. Trade Organizer in

this case is required to send notification, given in

true article Federal Law of 23 July 2013 N

251-FZ-Legislative Assembly of the Russian Federation Federation, 2013,

30, article 4084).

12. The Trade Organizer is obliged to notify in writing

Bank of Russia s branch manager

accountant's or organizer

trade, assigned to accounting, not

later than five days the day of the corresponding decision.

Trade Organizer and terms that

provided for this part, Notify the Bank of Russia of

which is vested with the Single Executive Body in

period of less than one month (to the red. The Federal Law of 23 July

2013 N 251-FZ-Assembly of Russian legislation,

2013, N 30, article 4084).

13. The Trade Organizer is obliged to notify in writing

Bank of Russia to be released from office specified in Part 1

real articles, Later working days, next in the day

to make such a decision. Federal Act of 23 July 2013

g. N251-FZ-Assembly of Russian legislation, 2013,

N 30, article 4084).

14. Trade Organizer is required to send to

writing to the Bank of Russia on the election of members

Board of directors (supervisory board) and peer members

executive organ of trade organizer within three days

days to make the appropriate decision. Federal Law

dated July 23, 2013 N 251-FZ-Legislative Assembly of the Russian Federation

Federation, 2013, N 30, st. 4084).

Article 7. Requirements for founders (participants)

Organizer

1. or or

s or together with

faces bound

property, , and (or) a simple partnership, , and (or) instructions, , and

(or) Joint Stock Agreement, , and (or) Other Agreement, Item

which is implementation of rights, -certified shares

(shares) of the trade organizer, manage 5% and more

votes, shares (shares), parts

authorized capital of trade organizer cannot be:

1) a legal person, registered in States, or

territories providing preferential tax treatment and (or)

providing disclosures and for

Financial Transactions (Offshore Zones), List

approved by Ministry of Finance of the Russian Federation;

2) a legal person

(revoked) license for the appropriate

Financial organization activity;

3) the physical person specified in Part 6 of Article 6 of the present

Federal law.

2. Person, specified in the first paragraph of Part 1 of this Article,

to send notification to trade organizer and Bank of Russia

in order and the time frames are set by Bank Stats

Russia Federal Law of 23 July 2013 N 251-FZ

The legislation of the Russian Federation, 2013, N 30, st.

4084):

1)

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and more percent shares

(shares) that make up the authorized capital of the trade organizer;

2) to change the voting share for voting shares

(shares) that make up the charter capital of the trade organizer and

which it has the right to dispose of, more than in

decrease of less than 5 percent-regardless

number of alienated voting voting (shares);

3) (nonconformance) requirements

The

set part 1 of this article.

3. If notification of Part 2 of this

Articles, returned from or from

notification should, that has a right, directly or indirectly,

order 5 and more percent

voting shares (shares) that make up the organizer's capital

trade, does not meet the requirements,

real articles, specified person has the right to dispose of the quantity

votes, not greater than 5 percent

voting shares (shares) that make up the organizer's capital

trade. For this, the (shares) This

face, for meeting of the meeting's The

shareholders (participants) of the trade organizer are not accounted for.

4. no notification

Part 2 of this article is required to send to the Bank

The

Russian message about this (on the red. Federal Act of 23 July

2013 N 251-FZ-Assembly of Russian legislation,

2013, N 30, article 4084).

5. The provisions of this article do not apply to syndication

The Bank of Russia on contracts of repo concluded in accordance with

Federal Act of 10 July 2002 N 86-FZ Central

Russian Federation (Bank of Russia) " (Part 5 )

Federal Act of 30 December 2015 428-FZ -Collection

Russian legislation, 2015, N, st. ).

Article 8: Native Tool Requirements

Trade and Other Mandatory Standards

1. Minimal size of your own person's provider

organized trading and (or)

financial markets based on an exchange's license should not be

less than 100 million roubles, the service provider

and(or) financial markets

system trade 50

. The trade organizer of your trade organizer

match requirements, set by the Bank of Russia

taking into account activities that combine activities

organized tenders (reds) Federal Act of 23

July 2013 N 251-FZ - The legislature

Federation, 2013, N 30, st. 4084).

2. Trade Organizer Must

comply with the standards

liquidity, equity requirements, value

and the methodology for determining which is set by the Bank of Russia (in

The Federal Act of 23 July 2013 N 251-FZ-Assembly

Russian legislation, 2013, N 30, sect. 4084).

Article 9: Exchange

1. The Exchange is the trade organizer has a license

stock exchanges.

2. The exchange may be limited to a joint-stock company.

3. The stock exchange should contain

stock exchange. Using the word "stock exchange", derived from it

with in its own brand name and (or) in advertising

corresponding organizations in name and (or) in

Cases,

federal laws.

4. Provide tendering services

which are Treaties, Derived Financial

tools, is executed by exchanges, for exceptions

Article 12, paragraph 4, of this Federal Act.

5. In addition to restrictions, 5

Federal Law, The exchange cannot combine its activities with

brokerbox, dealer and by the depositary activity,

securities management.

Article 10: Security Council

1. Exchange must create a stock-exchange board and/or council of the section

every trading (stock) section. Stock Exchange Council

must from the day of the receipt

License of the exchange. The Stock tip (the board of the section)

approved by the stock exchange board and must contain requirements

to members of the tip ( of the section),

Quantity and order of decisions.

2. Stock ( board is formed by the board

directors in the order of the candidates,

proposed by the bidders and the stock exchange, for the deadline

board of directors, which cannot be more than two years old. Not

less than 75% of the stock board (section board)

make trading (trading

(stock) section). In the stock exchange board ( of the section)

may include s or

Legal and legal service contracts for services the exchange. In

( of the section) cannot include more than one representative

one legal entity.

3. Stock ( board reviews and accepts

recommendations to the Exchange Commissioner for:

1) changes

trading;

2 rules for changes

exclude changes that are required in

force of requirements of federal laws and accepted according to

These are the Bank of Russia regulations. Federal Act of

23 July 2013 N 251-FZ-Legislative Assembly of the Russian Federation

Federation, 2013, N 30, art. 4084);

3) Changing the Clearing Organization

obligations from contracts concluded at organized trades, for

exception (invalidation) clearing

license organization, introduction to the clearing organization

bankruptcy, clearance failure

commitments clearing without

laws and regulatory enactments (to the red.

Federal Law of 23 July d N 251-FZ - Collection

Russian legislation, 2013, N 30, art. 4084);

4) Changes in the legal of the person of the function

Central of the counterparty, for feedback

(Cancellations) of such a legal person of the Bank of Russia's license

banking operations, termination

specified obligations for contracts, to be entered into

tenders

bankruptcy, if legal

Counterpart

to comply with article 5 (2) of the Federal Law "O"

clearing and clearing activities. Federal Act of the Russian Federation

23 July 2013 N 251-FZ- Assembly of the Russian

Federation, 2013, N 30, art. 4084);

5) on other issues listed in the exchange documents.

4. Stock ( to the right to give to

exchange guidance on issues of Part 3

this article, with respect to the activity of the appropriate product

(stock) section.

5. If the exchange board ( of the section) recommended (not

approved s

Part 3 of this article, such decisions come into effect not before

than three months from the day when the corresponding changes were made.

Article 11. Exchange of Ex-Stock Exchange Exchanges

1. In cases, order, the length and time of the s installed

Russian Federation Federation

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}

must provide information about the prisoners they do not

organized deals on contracts

implies ownership of goods, approved

organized trading (hereafter referred to as over-the-counter contracts).

2. and order,

legal governments Russian Federation Stock Exchange,

organized

contracts for the sale of a product, must maintain the registry

over-the-counter contracts. Order of Maintenance of the Register, Order

and the frequency of information from of the registry is defined

OF THE PRESIDENT OF THE RUSSIAN FEDERATION

Article 12: Trading System

1. The trading system is the trade organizer, that has

trading system license.

2. The trade name of the system must contain

' or ' trade organizer ' in

any of the same. Using the phrase "trading system" or

'trade organizer', derived words and combinations with them

in their company name and/or in advertising other

is allowed. This prohibition does not apply to commercial

Operator of the Wholese and power market

defined in By Law

{ Energy

} . Federal Act of 23 July 2013 N

251-FZ -Collection of Russian legislation, 2013, N

30, article 4084).

3. The system is not entitled to perform actions and render

service, which according to Federal

other federal laws in with them

regulatory acts can be performed (provided) only

(Ind. Federal Law of 23 July 2013 N 251-FZ-Assembly

Russian legislation, 2013, N 30, sect. 4084).

4. The Bank of Russia can be provided with normative acts of the Bank of Russia

cases, when organized

individual treaties

derivative financial instruments, may be trade

system (Ind. Federal Law of 23 July 2013 N 251-FZ-

Russian legislation collection, 2013, N 30, st.

4084).

5. In addition to restrictions, 5

Federal Law,

activities with clearing activities may not combine

with brokerability, dealer and depositary activity

Securities Market

papers.

Article 13: Indexes and other indicators to be calculated

Organizer

1. Trade Organizer

normative acts of the Bank of Russia, calculate prices, indexes and other

metrics based on treaties, prisoners

bids, and (or) other information. Order and dates

given metrics are defined by normative

Bank of Russia, also methods, approved by the organizers

{ trade

} Federal Law of 23 July 2013 N 251-FZ-

The legislation of the Russian Federation, 2013, N 30, st.

4084).

2. In cases, of the federal laws and (or)

Bank Regulations of Russia, Calculation of

prices, indexes, and other metrics to be traded

registering with the Bank of Russia in ( Ed.

Federal Law July 2013 N 251-FZ -Assembly

Russian legislation, 2013, N 30, sect. 4084).

3. in Part 1

Articles, trading to use information

received in and (or) results of organized

tendering, information

federal law or treaty has the right to use it, a

also has the right to use public information, including

information, exposed in with federal laws and

passed in them (in .

Federal Law July 2013 N 251-FZ -Assembly

Russian legislation, 2013, N 30, sect. 4084).

4. Trade Organizer

state power, and the Bank of Russia for implementation

's information

containing values and/or order and of the estimate

specified in Part 1 of this article.

Article 14. Internal audit and internal audit

Organizer

1. The Trade Organizer must organize and

internal audit and internal audit.

2. For and Internal Control

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} the

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} must assign the

individual organizational unit (internal control).

Controller (Internal Audit Manager) is assigned to

post and exempt from the Executive

The

organizer of the trade organizer. Controller

internal control is accountable to the single

The

organ of the trade organizer.

3. For , Internal audit

trade organizer is required to assign auditor or

form a separate organizational unit (service

internal audit). Internal auditor

internal audit is assigned to and is released

(tip board board of

Internal auditor ( Internal audit

is accountable to the board of directors (supervisory board).

4. Internal control order

audit set internal byOrganizer

trade under with Bank s requirements

Russia.

(Article 14 in . Federal Law of June 29, 2015. N

210-FZ-Russian Federation Law Collection, 2015,

27, Art. 4001)

Article 15. Measures to reduce risks and

prevention of conflicts of interest

1. Trade Organizer must organize a management system

risks associated with tendering organization and implementation

operations with own property (continued risk management)

which must match the nature of the operations they perform,

contain a risk monitoring system, that provides timely

bring the necessary information to controls

The

trade organizer. Management System Requirements

risks of are set by the Bank of Russia. Federal Law

dated July 23, 2013 N 251-FZ-Legislative Assembly of the Russian Federation

Federation, 2013, N 30, st. 4084).

2. The trade organizer must accept

(documents) measures, risk reduction

trade organizer, including the risks of combining

staged trading

activity. Also in this ( documents) must

containing business continuity

software, for implementation

organized trading activities.

3. The trade organizer must accept

(documents) measures, to to prevent

conflicts of interest in organized trading.

4. Requirements for Trade Organizer Documents that define

measures, aimed at risk reduction and preventing conflict

interests are set by regulatory acts of the Bank of Russia.

Federal Law of 23 July d N 251-FZ - Collection

Russian legislation, 2013, N 30, sect. 4084).

5. Trade Organizer must approve

determinative of the trade organizer

emergencies and directed to ensure the continuity

to carry out trading activities.

Article 16. Biders

1. participation in organized securities trading may

to be authorized dealers, managers, and brokers who have a license

professional control

company investment funds, investment funds,

non-State funds, Central counterparty,

is also the Bank of Russia.

2. in

individual entrepreneurs and legal

created in accordance with the legislation of the Russian Federation.

However, if the bidder works in and for

other person, such a participant can be a broker with a license

professional market participant central

counterparty or included by by the organizer of the trade in the list

bargaining agents acting for and at the expense of others

faces. Conditions and order of include

list, as well as and order of of this list

The

is installed by the trade organizer.

3. To participate in foreign currency trading, may

be organizations, eligible for

Bank Bank of Russia Operation

in foreign foreign currency, Central Counterparty, Bank

Russia, and other legal entities that have the right to execute

A sale of foreign currency due to federal law. If

contracts for foreign currency sales at organized trades

enclose the with the Central Counterparty, of the

bank, may be allowed to participate in these organized trades

other legal entities created by law

Russian Federation.

4. Participation in organized trades, in which

contracts that are derived financial tools can

be Bank of Russia, Central Counterparty, Managers

company investment funds, investment funds,

non-State pension funds, and dealers, managers

brokers, that have a professional market participant's license

valuable papers, in number brokers, licenses to

conclusion only

contracts, of derivatives tools

The

underlying asset of which is a commodity. To participate in organized

trading, on which contracts are, derivatives

financial tools of which the product is a basic asset,

may

matches with Russian Federation law, if

contracts for their account, to in organized

trading, on which are contracts, that are derived

financial instruments whose base asset is a currency

and (or) interest rates, can also be allowed

organizations, acting on their behalf and for their account (in

Federal Law of 29 December 2012 N 282-FZ

Russian legislation, 2012, N 53, sect. 7607).

5. in

foreign legal entities, performing functions, similar

Central of the counterparty, , and included in list,

approved by the Bank of . When enabling

legal person in the Bank of Russia can be installed

(in

Federal Law of 23 July d N 251-FZ - Collection

Russian legislation, 2013, N 30, sect. 4084).

6. s rules can be defined

various (category)

different requirements for such bidders, and

rights of and the obligations of such bidders. On this requirement,

for one group (categories), rights, and

The

responsibilities of such participants must be the same.

7. If is provided by by the client,

trading is entitled to be a commercial representative at the same time

parties to a contract concluded in organized trading, including

non-entrepreneurs.

Chapter 3: Organized tendering

Article 17. Bids filed at organized trades

1. Content of applications from organized trades, , and

order and recall order is defined by rules

tendering.

2. The rules of organized trading may be established that

bids can be used

electronic signatures, handwritten signatures, codes, passwords

and other means, that is

The

delegate to this person. In this case the order of usage

signatures, signatures, codes,

passwords and different identities must be defined

rules or contract rules.

3. A bid has the right to withdraw the request, submitted

deals organized in Cases and Order

rules of organized trading. In this case, contracts entered into

The

grounds for such an application, pending its withdrawal, remain valid.

4. Trade Organizer has the right to refuse registration of a filed

in bids or cancel (remove)

registered application in cases and order, that are installed

Regulatory Acts of the Bank of Russia and (or) Rules of Organized

tendering (Ind. Federal Law of 23 July 2013 N 251-FZ

The legislation of the Russian Federation, 2013, N 30, st.

4084).

Article 18. Conclusion of the contract at organized trades

1. If is not otherwise provided by this Federal Law,

contract on organized trading is on

registered multidirectional applications, full or partial

correspondence to a friend fixed in

registry of contracts by the trade organizer in order, defined

The

rules of tendering. this

claims are applications, that contain counterparties to each other

A friend of the will to conclude the contract.

2. If is not otherwise provided by this Federal Law,

a contract is considered a organized in

fixation by the line of the trade

friend's friend by

The

corresponding contract in the contract registry. In this compilation

one of the document, signed by the parties

The

simple, written form of the contract is considered to be met.

3. In cases of the rules of organized trades

and (or) rules of clearing, arranged trading contract, in volume

number of contracts with central counterparty, can be without

requisitions. The specified is considered a prisoner at the time

defined trading rules by recording

o of the contract in the treaty registry. In this compilation

one of the document, signed by the parties

The

simple, written form of the contract is considered to be met.

4. The contract, of the contract on organized trading,

must be contained in applications, rules organized bids, and

(or) specs, , and (or) of the clearing rules

appropriate organization or to determine in

matches the specified documents, and in cases provided

rules of organized tendering, can be in examples

contracts, approved self-regulating organization

Professional Market Participants and Registered

in the Bank of the Russian Federation Federal Law of 23 July 2013 N

251-FZ-Legislative Assembly of the Russian Federation Federation, 2013,

30, article 4084).

5. Trade Organizer

prisoners in organized trading, , and provide excerpt from

registry treaties

The Bank of Russia's normative acts (to the red of the Russian Federation). Federal Act of 23

July 2013 N 251-FZ - The legislature

Federation, 2013, N 30, st. 4084).

6. The conclusion of the contract in the organized trades is confirmed

statement of s organized

s

tendering.

7. Parties may not to change or to terminate

even though would be one of the requests,

unlimited bidders, for

provided by rules for organized trading and/or rules

clearing for such liabilities.

8. By obligations, arising from treaties, prisoners

base at least one of requests, to

The circle of bidders should be in the clearing.

9. The obligations, of the contract, of which

is one and or one

clearing broker, no match of and

creditor in one person, if these obligations are executed by

different customers of the bidder or for different members

tendering.

Article 19. Features of the conclusion at organized trades

contracts with the Central Counterparty

1. Unless otherwise provided by the Federal by law,

Central counterparty concludes the contract with each participant

tendering, conformance with handheld requisitions

friend is set by for the organizer.

submission of a central counterparty is not required, and every from

specified treaties are considered in commit

bid organizer

record of concluding contracts with a central counterparty to the registry

contracts.

1-1. In s

organized

trades, central counterparty, without application, can sign

one or several s

or multiple

bidders for

contracts, if other or other bidders submit applications

cash placement on condition, that the times specified in

such requests, are the same (part 1-1 introduced by Federal Law

29 June 2015 n 210-fZ-Assembly of Russian legislation

Federation, 2015, N 27, st. 4001).

2. Rules of organized bidding may provide for cases,

in the Central counterparty

bids this

Central counterparty. In this the contract is

deals rules,

true Federal Law.

3. contracts by the Central Counterparty

  federal

o Order of deals, transactions

interest, acquisition deals 30 and more

%

shares of public stock companies, on exceptions

nature to participate in the charter capital of societies

strategic for the country's defense and

State security, and requirements of federal laws

disclosure of by whom has acquired or

has the ability to control certain percent of

according to the common stock of a joint-stock company.

4. Limitations, 1

27-6

Federal Act of April 22, 1996 N 39-FZ Securities Market

papers, do not spread

central

counterparty with bidders when placing on

tendering.

Article 20. Features of the conclusion at organized trades

contracts with a clearing broker

1. and the order

organized trading,

} bids to file

specification of a clearing broker.

2. Party to a contract concluded at organized trades in

of the bidder in which the clearingis specified

broker is such a clearing broker.

3. The rules of can be provided

cases, when based on the applications that match each other

specified by the organizer of trading, at the same time

contracts:

1) the contract between the broker and by the bidder

(Central Counterpart, Other Clearing Broker)

2) the contract between and the broker

who has applied for this clearing broker.

of the contract has and

fully identical to the rights and obligations of the clearing broker

The

contract specified in paragraph 1 of this part.

Article 21. Suspension or termination of organized

Bid

1. Trade Organizer must suspend or terminate

tenders in and terms that

set by the Bank of Russia, and in cases

federal laws, ,

corresponding Russia's order on suspension or

termination

} foreign (in )

Federal Law July 2013 N 251-FZ -Assembly

Russian legislation, 2013, N 30, sect. 4084).

2. The Trade Organizer is obliged to notify the suspension or

to terminate and resume organized trading Bank of Russia, a

Also bidders , clearing organization and central

counterparty in order and times,

Acts of the Bank of Russia and (or) rules of organized trading.

Federal Law of 23 July d N 251-FZ - Collection

Russian legislation, 2013, N 30, sect. 4084).

3. Deroing or ending tenders organized by

maybe as in all of the items, stocks, species

foreign currency, that are accepted for organized trading, or

all contracts organized and in

relation of individual goods, paper, foreign currencies, and

(or) contracts.

Article 22: Disclosure (provision) of information and

documents by the trade organizer

1. Trade Organizer must provide free access to

all

stakeholders, regardless of the goals of for this

information.

2. The organizer of the trade is obliged to ensure the disclosure of the following

information and documents:

1) of your constituent documents;

2) rules for organized trading;

3) stock tip (section board);

4

audit certificates for the annual reports

annual accounting (financial) reporting, and also

containing in Consolidated Reports

financial reporting;

5) The value of the trade organizer's services;

6) time of organized trading, if in rules

organized tenders are the order of its definition;

7) on the stock exchange board (section council)

8) other information that is provided for by this

Federal Law, Other by laws and normative

Acts of the Bank of Russia. Federal Law of 23 July 2013

N 251-FZ-Legislative Assembly of the Russian Federation, 2013, N

30, article 4084).

3. Information and Documents that are part of 2

real Articles, expose trade organizer by

posting on its Web site

(including on the Internet).

4. s organized

trading, including the adoption of rules for organized trading in

revision, specified changes (new rules) are subject to

information and telecom networks ( in networks

Internet) after their registration in of the Russian (in Ed.

Federal Law July 2013 N 251-FZ -Assembly

Russian legislation, 2013, N 30, sect. 4084).

5. (provided information

and prisoners

trade organizer has the right to identify parties

imprisoned in organized by the contract and face

application, as well as clients of specified persons, if specified individuals and (or)

their clients did not agree to this identification.

6. Requirements and Disclosure (Provisioning)

information by the trade organizer is determined by the Bank of Russia (in

The Federal Act of 23 July 2013 N 251-FZ-Assembly

Russian legislation, 2013, N 30, sect. 4084).

7. The trade organizer is responsible for damages,

arising from using an unreliable and (or) incomplete

information, exposed (provided) by the trade organizer

if this information is mandatory for Federal

laws and of the compliance with them or

contract Federal Law of 23 July 2013 N 251-FZ-

The legislation of the Russian Federation, 2013, N 30, st.

4084).

Article 23. Information Security

1. Trade Organizer is required to ensure confidentiality

information, of the commercial and other protected by law

mystery, confidentiality of information provided by participants

tendering according to rules of organized trading.

2. Information and information specified in Part 1 of this

Articles, are provided by the trade organizer only

}

can also be granted to other persons with

consent of bidders.

3. Information and information specified in Part 1 of this

Articles, are provided by the trade organizer to the Bank of Russia

query of the Bank of Russia, relevant requirements of Part 4 of the Article

25 of this Federal Act (ed.) Federal Act of 23

July 2013 N 251-FZ - The legislature

Federation, 2013, N 30, st. 4084).

4. (Part 4 is no more effective under the Federal Law

23 July 2013 N 251-FZ-Legislative Assembly of the Russian Federation

Federation, 2013, N 30, art. 4084)

5. Information and information specified in Part 1 of this

articles are provided by the shipping organizer and arbitration

courts (judges), if the head of the investigationis accepted

organ organs of preliminary investigation of cases,

in production, inner   at

their detection, warning, and suppression functions

tax crimes, others matches

requirements of federal laws.

6. and information received by by the organizer

trade from bidders with rules

organized trades can can be given

of the Central of the counterparty, , and in

clearing organization, , and in organization,

conducts

Settlement Depository, and (or) Commodity Commodity

{ \cs6\f1\cf6\lang1024

}

consent of bidders and their clients.

7. and of the organization parts 3-6

true article, provides the privacy

information and use them to perform their

functions (responsibilities).

Article 24. Order of Dispute Resolution

1. s rules can be defined

and order of disputes between bidders, a

organized trading, in of the proceedings

is a permanent arbitral tribunal.

2. Arbitration Agreement, provided by the rules

organized trading is also valid if

it has been entered into before the cause of the claim.

3. If you make changes to the bid rules, related

change of the tribunal, disputes,

true article, resolved by the court,

trading rules at the time of reason for presentation

claim.

Chapter 4: Management and oversight of implementation

organized tenders

(name of chapter to red. Federal Act of 23 July 2013 N

251-FZ -Collection of Russian legislation, 2013, N

30, Art. 4084)

Article 25. Bank of Russia powers

(name in red. Federal Law of 23 July 2013 N

251-FZ -Collection of Russian legislation, 2013, N

30, Art. 4084)

1. The Bank of Russia (to TASS). Federal Law of 23 July 2013

N 251-FZ-Legislative Assembly of the Russian Federation, 2013, N

30, st. 4084):

1 performs activity

organized deals, including regulatory legal

acts, activities

trading, and Other regulations, provided for

Federal law (under the rule of law). Federal Law of 23 July 2013

N 251-FZ-Legislative Assembly of the Russian Federation, 2013, N

30, art. 4084);

2 provides a single public policy in

organised-trading areas;

3 sets requirements for to

tendering;

4) sets the order of the registry of bidders and

their clients, application and contract registries, prisoners

organized tenders, requirements for order and delivery dates

statements from these registries

5) sets the behavior of organized auctions

valuable papers, qualified

investors, and organized in

contracts that are derivatives of tools

for qualified investors, , and order

and deadlines for to provide information to the trade organizer about such

securities and contracts with them ( derived information

financial tools);

6 logs

other s of trade organizers, including specs

contracts, to s

Federal Law, as well as changes made to them;

7) licenses bourses and trading systems;

8) discards the exchange and trading systems licenses.

9) imposes restrictions on products, in

contracts can be concluded on organized trades, and requirements

organized trading;

10 sets content requirements

contracts that are derived financial instruments;

11) installs cases, order and

price trading, indexes and other metrics, and

cases of the Organizer

price trading, indexes, and other metrics

12 specifies requirements for and times

own of trade organizers, and also installs

other requirements, targeted implementation risks

organized trading activities;

13 sets requirements for for by the organizers

internal control trade;

14) defines the rules, composition, order , and periods of

(provide) information by trade organizers;

15) sets the size, order, dates, and forms of the view,

including electronic signature with electronic signature in

Bank Reports Organizers

trade, as well as persons who directly or indirectly control,

in number based on the trust management contract, 5, and

more% of common stock (shares) of trade

(Ind. Federal Law of 23 July 2013 N 251-FZ-Assembly

Russian legislation, 2013, N 30, art. 4084);

16 sets requirements for and to protect

information and documents, related with organized

tendering, as well as shelf life;

17 approves qualifications for

organised trading and specifies and inclusion

legal faces in organizations, delegates,

specified certification in the form of the exam's and

qualification certificates, and also includes

in the specified list of such legal entities, defines the types and of the form

qualification certificates and maintain a roster of certified persons

18 invalidates qualifications

in

repeated or <> <}

requirements of this Federal Law and adopted according to

with it rules (in the red. Federal Act of 23 July 2013

g. N251-FZ-Assembly of Russian legislation, 2013,

N 30, art. 4084);

19 performs compliance checks

physical in

{ \cs6\f1\cf6\lang1024

}

{ \cs6\f1\cf6\lang1024}Organized{ \cs6\f1\cf6\lang1024

}

legal faces in organizations, delegates,

specified certification, and excludes legal entities from such a list

if these conditions are violated;

20 sets the qualification requirements and requirements for

professional experience Federal

laws of persons;

21) gives pre- permission for election (destination)

provided by this Federal Law of Persons;

22 performs control by the

organizers

trade of the Federal of the Law, Other

federal laws and regulatory frameworks

acts, relations, related

tenders ( -Control of organizers

trade) (to the red. Federal Act of 23 July 2013 N 251-FZ-

The legislation of the Russian Federation, 2013, N 30, st.

4084);

23 performs to test the activity of the trade organizers

in order, set by Bank of Russia regulations (in Ed.

Federal Law July 2013 N 251-FZ -Assembly

Russian legislation, 2013, N 30, art. 4084);

24) requires to perform on the trade

provided by this Federal Law;

25 takes Federal measures

targeted at prevention, detection and suppress violations

federal laws and accepted by them

acts. Federal Law of 23 July 2013 N 251-FZ

The legislation of the Russian Federation, 2013, N 30, st.

4084);

26) accesses the court with the legal requirement

faces, Activities,

provided by

Fed by law, without licenses, and in

cases provided by federal laws;

27) exchange confidential with

corresponding by a body (organization) of a foreign state to

with the body (organization)

providing for the exchange of such information, provided that

that by the authority in the body

(organization) provides security

confidential information is not less

confidential information

Russian legislation, and if relations

treaties

Russian Federation, according to the terms of such contracts;

28) exchange with

(organization) foreign

agreements with such by the body (organization)

mutual exchange of information, under condition,

this of this state

Adequate Protection of the Rights of Personal Data Actors;

29) (Paragraph 29 has been superseded by Federal Act

23 July 2013 N 251-FZ-Legislative Assembly of the Russian Federation

Federation, 2013, N 30, art. 4084)

30 performs functions other than

Federal Act and other federal laws.

2. At Control of Trade Organizers

Russia to the right The Federal Act of 23 July N

251-FZ -Collection of Russian legislation, 2013, N

30, st. 4084):

1) perform scheduled inspections no more than once a year;

2) perform out-of-plan checks for detection

signs of violations, including complaints (statements,

accesses) and legal information

media;

3 get from s trade

required documents and information, including information, access

of which is restricted or by federal

laws, explanations in writing or oral form;

4) address in

Federation Order in bodies of the search

activity, with request for operations

activities.

3. control control control

Employees of the Bank of Russia with

of the

President

Bank of Russia, his deputy, the Bank's Financial Supervision Committee

Russian or other persons according to Bank regulations

Russia, have right toin

trade and, if is needed to perform

verification, in of other organizations, attracted

The

trade organizer to fulfill its obligations under the contract

to provide organized trading services, and (or)

organizations

in the for software-hardware

means to capture, process, and store information,

related with tenders

organized

documents and information (including access to which

limited or in accordance with federal laws

required for control, also

access to software and hardware for commitment control

processing and storing and information (in .

Federal Law 30 December 2015 N 427-FZ-Assembly

Russian legislation, 2015, N, st. ).

4. Russia has the right to request in writing

and other physical and legal

and information bound with

organized tenders, and these persons are required to provide

and information. The Bank of Russia is obliged to provide

privacy of documents and information,

exception

(provision)

compliance with federal laws and compliance

The legal legal by the Russian Federation

Federal Law of 23 July d N 251-FZ - Collection

Russian legislation, 2013, N 30, sect. 4084).

5.

In the Russian violation of federal

laws and adopted in with them legal

acts, and to prevent such violations by the Bank of Russia

may issue orders, required for execution by persons

The

to which they are addressed. Requirement must contain requirement

Bank of of Russia on its competence, and a due date

this requirement. Federal Law of 23 July 2013 N

251-FZ -Collection of Russian legislation, 2013, N

30, article 4084).

5-1. The and requests of the Bank of the Russian Federation

through mail, faxes, or delivery

destination or in the form of electronic documents, signed enhanced

qualified in the order, of the

The Bank of Russia. In the direction of Bank of Russia regulations and requests

in form of requests and queries

count as received after one business day

destination in order, set by the Bank of Russia,

condition, that the Bank of Russia received acknowledgement of receipt of the mentioned

and (Part 5-1

was introduced by the Federal Law of July 13, 2015. N 231-FZ-Assembly

Russian Federation Federation, 2015, N 29, st. 4357,

takes effect from February 9, 2016.

6. Bank of Russia has the right to suspend for a period of time

up to six months or terminate organized trading in

: Federal Law of 23 July 2013 N

251-FZ-Legislative Assembly of the Russian Federation Federation, 2013,

30, st. 4084):

1) if violations of federal laws and have been detected

matches with them Bank of Russia regulations and (or) rules

organized tenders, including if the trade organizer is not

performed obligation or termination

organized trades, Federal

Accepted in accordance with Bank of Russia regulations

(or) rules of organized trading (reds. Federal Law

dated July 23, 2013 N 251-FZ-Legislative Assembly of the Russian Federation

Federation, 2013, N 30, art. 4084);

2) if the organizer of the trade is not executed by the Bank's order

Russia Federal Law of 23 July 2013 N 251-FZ

The legislation of the Russian Federation, 2013, N 30, st.

4084);

3 If

legitimate investors or if committed by the organizer

trade threats threaten and legitimate

investors;

4) in other federal cases.

7. The order may be changed or cancelled by the Bank of Russia.

The Bank of Russia's order may be challenged by the by the court.

Frontship order recognition Requirements

invalid completely or does not suspend operations

requirements (rev. Federal Act of 23 July 2013 N 251-FZ

Russian Law Assembly, 2013, N 30, st.

4084).

Article 26. Licensing of activities

Biders

1. The Stock Exchange License and the [ [ trading license

(remainder

license) Russia Without

specified licenses. The license is issued to the person

get (hereinafter referred to as a license crawler) if licensed

requirements and conditions, matches with

true article Federal Law of 23 July 2013 N

251-FZ-Legislative Assembly of the Russian Federation Federation, 2013,

30, article 4084).

2. License Terms and Conditions for Issuing licenses

is of the Federal of the law and accepted in

compliance with regulatory acts (ed.) Federal Act of the Russian Federation

23 July 2013 N 251-FZ-Legislative Assembly of the Russian Federation

Federation, 2013, N 30, art. 4084:

1) to organizational-legal form;

2) one or multiple

organizational units, created for activity

organized trading, in

activity with other activities;

3) to your own tools;

4) to or or indirectly   (through

under their control) alone or with other persons,

related property trust contracts, and

(or) a simple partnership, and (or) instructions, and (or) joint-stock

agreement, , and (or) other convention of which

exercising rights, -authenticated by the organizer

trade, control 5% and more% of votes

voting (shares), parts of charter capital

licensee (licensee);

5) Single

executive body, members of the board (observatory

tip), members of executive board, manager

Internal Control (Controller), Principal Accountant, or

other

holds accounting accounting, branch manager

trade organizer, person

organization risk management (separate

structural organizational unit

risks,

organizing with other activity also to manager

structural organizational unit for implementation

tendering activity

6) to rules for organized trading;

7) to organize the monitoring of organized trading, a

also control of bidders and others in compliance

with requirements of Federal laws and adopted according to them

normative acts. Federal Law of 23 July 2013 N

251-FZ-Legislative Assembly of the Russian Federation Federation, 2013,

30, art. 4084);

8) Internal control organization

9 (documents) (which defines)

measures, directed to reduce organizational risks

tendering.

3. To obtain a license the license crawler represents in

Bank of the Russian Federation: Federal Act of 23

July 2013 N 251-FZ - The legislature

Federation, 2013, N 30, art. 4084:

1 license on the license form

The Bank of Russia's normative acts (to the red of the Russian Federation). Federal Act of 23

July 2013 N 251-FZ - The legislature

Federation, 2013, N 30, art. 4084);

2) a questionnaire, filled out in the form, of the normative

Acts of the Bank of Russia. Federal Law of 23 July 2013

N 251-FZ-Legislative Assembly of the Russian Federation, 2013, N

30, art. 4084);

3) Document, Actuation

license crawler in Single public legal registry

or his notarized copy of the;

4 certified copies of documents

license applicant with registered changes to them

5) a notarized copy of the document confirming

placing a license applicant in a tax authority;

6) copies of documents, confirmation of (destination)

:

(a) the of the sole executive

organ;

Members of the Board of Directors (Supervisory Board) and members

executive body;

in) the head of internal control (controller);

g) of the chief accountant or other official to which

attributed accounting;

d of the organizational unit of the

activities on tenders in

Balancing Other Other

views

Activity;

(e) the head of the branch of the trade organizer;

individual organizational unit

( person), of the responsible for the organization

risk management

7) A document containing information about the persons referred to in paragraph 6

real parts, copies of documents

requirements for

compliance with this Federal Law;

8) a document, that contains information about the person that has the right

or indirectly ( s

with others

trust Property, , and (or) of the simple

partnerships, and (or) assignments, and (or) stock agreement, and

(or) other convention whose object is implementation

rights, certified (shares) of the trade organizer

order 5 and more percent

voting shares (shares) that make up the organizer's capital

trade, and copies of documents and

which confirm requirements for

specified persons according to this Federal Law;

9 approved rules

tendering, the document defining the order of organization and implementation

internal control, also the document that defines measures

to reduce the risk of trading activity;

10) A document that has a that contains the calculation of its own

crawler license, produced order, installed

The Bank of Russia's normative acts (to the red of the Russian Federation). Federal Act of 23

July 2013 N 251-FZ - Collection of the Law of the Russian

Federation, 2013, N 30, art. 4084);

11) The and Protection Order

information related to organized trading;

12) The list of measures,

preventing conflict during organized

trading;

13) A copy of the balance of accounts on the last reporting date;

14) document, containing detailed information

Tools and accounts receivable for the last reporting date,

on form, set by the Bank of Russia's normative acts (to the red of the Russian Federation).

Federal Law of 23 July d N 251-FZ - Collection

Russian legislation, 2013, N 30, art. 4084);

15) a copy of the profit and loss report for the last reporting

date;

16 financial investment structure. Document

The

on the date of the calculation of its own funds. In this help

must be specified:

(a) the full name of the financial investment;

b) Issuer Name (for Securities)

in) Amount of Financial Attachment;

g) the book value and the market value of the financial investment;

17) copy of the audit certificate

(Accounting) for the last reporting year;

18) copies of documents, public

registering all releases of the company's and report

shares in the stock issue if the license applicant is shareable

;

19) document confirming payment of state fee for

granting a license;

20) Document, part of 5 of Article 15

Federal law.

4. The license must be signed by the person

Single Organ

crawler licenses, confidence

details, of the documents in documents that are submitted for retrieval

licenses.

5. Documents and For Receipts

licenses, must match requirements

The Bank of Russia's normative acts (to the red of the Russian Federation). Federal Act of 23

July 2013 N 251-FZ - Collection of the Law of the Russian

Federation, 2013, N 30, st. 4084).

6. of the Russian performs the compliance check

and and

crawler licenses information supporting their compliance (in

Federal Law of 23 July 2013 N 251-FZ - Collection

Russian legislation, 2013, N 30, sect. 4084).

7. and information for getting

licenses, are accepted by the Bank of Russia if they are considered

proper decorating. In the case of incomplete bundle view

documents or documents, are not properly designed, Bank

Russia returns the specified documents to the license crawler during

10 days of the receipt of the license application (in

Federal Law of 23 July 2013 N 251-FZ - Collection

Russian legislation, 2013, N 30, sect. 4084).

8. The Bank of Russia makes the license or

refusing in her to issue within two months of the receipt of all

required documents submitted for license (in

The Federal Act of 23 July 2013 N 251-FZ-Assembly

Russian legislation, 2013, N 30, sect. 4084).

9. In the license decision and in the document, confirmation

presence of license, including:

1) the name of the licensing authority;

2) full trade name of the licensee;

3) where the licensee is located;

4) taxpayer identification number-license;

5) licensed activity;

6) the license number of the license;

7) the date the license decision was issued;

8) information about the lifetime of the license.

10. The document, confirming the existence of the licence, shall be issued to

The Bank of Russia form according to its approved form (in Ed. Federal

Law of 23 July 2013 N 251-FZ-Legislative Assembly

Russian Federation, 2013, N 30, est. 4084).

11. Russia's Bank within five working days from the date of adoption

corresponding solution directs (hands out) a license applicant

license or

extradition that contains the basis for such a failure. Federal

Law of 23 July 2013 N 251-FZ-Legislative Assembly

Russian Federation, 2013, N 30, est. 4084).

12. Reason for refusal of license is:

1) presence in documents, of the license finder

incomplete or false information

2) mismatched documents

licenses, requirements of of this Federal Law and accepted in

matches with Bank of the (in

Federal Law July 2013 N 251-FZ -Assembly

Russian legislation, 2013, N 30, art. 4084);

3) not providing information with with Part

true article;

4) non-compliance with licensing requirements and conditions.

13. The license crawler has the right to challenge in

order

installed by the Russian Federation, Bank Failure

Russia in issuing license or Russia's Bank

Federal Law July 2013 N 251-FZ -Assembly

Russian legislation, 2013, N 30, sect. 4084).

14. Document, License to be licensed, to

redecorating in if you change the brand name and (or)

where of the trade organizer,

trade organizer condition,

organizational-legal form again of the person's legal legal

complies with the requirements of this Federal Act.

15. Realizing document, confirmation

licenses, executed based on the licensee's statement or its

successor, in which new information about the licensee is specified

or successor and to

proof of incorporation into the Single State Register of Legal

faces of to change its brand name and/or place

of the trade organizer as well as

government duties for redecorating

confirming for the license. redecoration statement

document confirming the existence of a license is filed by a licensee in

Russia Later    )

corresponding changes unified registry

legal entities (ed. Federal Act of 23 July 2013 N

251-FZ -Collection of Russian legislation, 2013, N

30, article 4084).

16. Realizing document, confirmation

licenses, implemented within 10 working days from receipt

Russia all the documents that are required. Decoration

document, of license, not allowed

missing bases covered by Part 14 of this Article, a

also when incomplete or inaccurate information is provided (in

The Federal Act of 23 July 2013 N 251-FZ-Assembly

Russian legislation, 2013, N 30, sect. 4084).

17. Russia's Bank within five working days from the date of adoption

corresponding directs (awarded) a licensee

legal created

trade organizer, notification about redecorating

confirming the existence of a license (to the red. Federal Act of 23

July 2013 N 251-FZ - The legislature

Federation, 2013, N 30, st. 4084).

18. Licensing Redischarge

document, confirming license availability, decorations and

documents for license and redecoration

document confirming license availability

The Bank of Russia's normative acts (to the red of the Russian Federation). Federal Act of 23

July 2013 N 251-FZ - Collection of the Law of the Russian

Federation, 2013, N 30, st. 4084).

19. The Bank of Russia maintains the register of exchange and trading systems.

(hereinafter-the license). Licenses

order

Russia Federal Law of 23 July 2013 N 251-FZ

The legislation of the Russian Federation, 2013, N 30, st.

4084).

20. Information, Included in the registry of licenses, must be

information and telecom networks ( in networks

Internet). This information includes the (red). Federal

Law of 23 July 2013 N 251-FZ-Legislative Assembly

Russian Federation, 2013, N 30, art. 4084:

1) full and abbreviated (if any) brand names

license;

2) license number;

3) the date the license decision was issued;

4) licensed activity;

5) where the licensee is located;

6) taxpayer identification number-license;

7) Other Information, By Regulatory Bank s

Russian (to the red. Federal Law of 23 July 2013 N 251-FZ-

Russian legislation collection, 2013, N 30, st.

4084).

21. The Bank of Russia provides extracts from the license registry

statement by any interested person (under the name of the person concerned) Federal Law

dated July 23, 2013 N 251-FZ-Legislative Assembly of the Russian Federation

Federation, 2013, N 30, st. 4084).

22. The from the license registry is provided within 10

working days since

.

Article 27. Registration of Trade Organizer Documents

1. Trade Organizer is obliged to register with the Bank of Russia

following documents and changes made to them. Federal

Act of 23 July 2013 N 251-FZ - The Law Collection

Russian Federation, 2013, N 30, art. 4084:

1) rules for organized trading;

2 in cases provided by by federal laws and (or)

Bank Regulations of Russia, Calculation of

prices, indexes and other metrics

Federal Law of 23 July d N 251-FZ - Collection

Russian legislation, 2013, N 30, art. 4084);

3) the document, that defines the order of organization and implementation

internal control;

4 A document that defines the organization of the monitoring

organized trades,

other persons according to federal laws

compliance (in .

Federal Law of 23 July d N 251-FZ - Collection

Russian legislation, 2013, N 30, art. 4084);

5) A document that defines measures

trading activity risks;

6) A document that defines measures, to be taken by the organizer

trading in emergencies and directed to

business continuity in the organization of trades;

7) Specs of Financial Derived Financial

tools.

2. Measures, decreased risk

tendering, and measures taken by the organizer of in

emergency scenarios and directed to ensure continuity

activities on tenders can

must be defined in a single document.

3. The Bank of Russia accepts the

1

changes or denial of registration not later than 30 days since

acceptance of the relevant documents if the shorter deadline is not

The

provided by the Bank of the Russian Federation . Registration

Organize and changes

is implemented by the Bank of Russia in the order, of the regulatory framework

Acts of the Bank of Russia. Federal Law of 23 July 2013

N 251-FZ-Legislative Assembly of the Russian Federation, 2013, N

30, article 4084).

4. Parts

true article is executed at the same time with

corresponding license.

5. Reason for refusal to register organizer documents

trade and trade changes:

1) non-conformance documents that are submitted for registration

Federal

compliance with of the Bank of Russia regulations, and other

federal laws passed by with

legal acts Federal Law of 23 July 2013 N

251-FZ-Legislative Assembly of the Russian Federation Federation, 2013,

30, art. 4084);

2) presence in documents registration

incomplete or false information.

6. Trade Organizer Documents to be registered,

in date, of the trade organizer

which cannot be the date of registration of the specified documents,

disclosure.

Article 28. Revoking License

1. The license can be revoked by the Bank of the Russian Federation (in .

Federal Law July 2013 N 251-FZ -Assembly

Russian legislation, 2013, N 30, art. 4084:

1) on the basis of a written statement by the trade organizer

license revocation;

2) event organizer's failure to perform

Russia

organized trading (to Federal Act of 23 July 2013

g. N251-FZ-Assembly of Russian legislation, 2013,

N 30, art. 4084);

3) in the event of repeated non-performance for one year

in By the Bank

Russia, with the exception of the requirement specified in paragraph 2 of this

(in . Federal Law of 23 July 2013 N 251-FZ-

Russian legislation collection, 2013, N 30, st.

4084);

4) in the case of repeated one of the

violation

days

reporting, by federal laws

in s s

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The Federal Act of 23 July 2013 N 251-FZ-Assembly

Russian legislation, 2013, N 30, art. 4084);

5) repeated in for one year of violation

trade organizer requirements for (provisioning)

and of federal documents

in s s

on organized bidding (in

Federal Law of 23 July 2013 N 251-FZ - Collection

Russian legislation, 2013, N 30, art. 4084);

6) in the case of repeatedly in the of the violation

requirements for requirements

Federal Law and promulgated by

acts (reed. Federal Law of 23 July 2013 N 251-FZ-

Russian legislation collection, 2013, N 30, st.

4084);

7) if organized trading

implemented for a year and a half in a row;

8 of the activity

trade organizer (adoption of the or

Early Termination of Single Execution

body without concurrency

interim Single or

single absence

more

one month without other

corresponding requirements to the function

sole executive body);

9) if the trade organizer is declared bankrupt.

2. The decision to revoke the license is taken by the Bank of Russia

in order and the time frames are set by Bank Stats

Russia. In the license revocation decision,

to invalidate it. Federal Act of 23 July 2013

N 251-FZ-Legislative Assembly of the Russian Federation, 2013, N

30, article 4084).

3. The annulment of the license based on a declaration

trade organizer can beaccepted

Only on Notify By Organizer

tendering, clearing organizations, of the features

core counterparties, about intent to opt out of the license, a

also if there is no commitment in relation to

faces.

4. The cancellation of the license does not stop

right Bank Russia invalidate the license

other

The

envisaged by this Federal Law (under the law). Federal

Act of 23 July 2013 N 251-FZ - The Law Collection

Russian Federation, 2013, N 30, est. 4084).

5. The license revocation statement must be attached

supporting compliance

part 3 of this article. Exhaustive list

documents are set by the normative by the Bank of the Russian Federation.

of the license signed the person

Single Organ

license; reliability

containing in documents for invalidation

licenses (to the red. Federal Law of 23 July 2013 N 251-FZ-

The legislation of the Russian Federation, 2013, N 30, st.

4084).

6. Documents, by the trade organizer for

license revocation, received by the Bank of Russia

of all images

documents in order, by the Bank of Russia. In

view of incomplete kit

documents returned by the Bank of Russia to the organizer

trade in 10 business days from the date of receipt of the declaration

the license revocation (in the red. Federal Act of 23 July 2013

g. N251-FZ-Assembly of Russian legislation, 2013,

N 30, article 4084).

7. The annulment of the license based on a declaration

can

passed in the (in

Federal Law of 23 July d N 251-FZ - Collection

Russian legislation, 2013, N 30, sect. 4084).

8. The annulment of the license based on a declaration

trade organizer licenses or

is accepted for 30 working days with

The

day of receipt of the documents received to revoke the license.

9. The Bank of Russia is obliged to inform the of the licensee's revocation

license later of the day, next on the day of the commit

corresponding decision, by the link

(custom delivery notice about ) and

fax (e-mail). Commit Information

license revocation solutions open on an official site

Bank of Russia in information and telecom (in volume

Internet not later than work day, next

day of its adoption. Federal Law of 23 July 2013 N

251-FZ -Collection of Russian legislation, 2013, N

30, article 4084).

10. Trade Organizer must stop implementation

of organized trading not later than day

next after receipt of license revocation notification

but not Later 15 working days from the appropriate

solutions.

11. License Organizer, revoked license

must exclude from its trade name "Exchange",

or "trading system", , or in the phrase

'trade organizer ', or

phrases with them within three months of adoption by the Bank

Russia license invalidations Federal

Act of 23 July 2013 N 251-FZ - The Law Collection

Russian Federation, 2013, N 30, est. 4084).

12. The Trade Organizer has the right to challenge the arbitration

court

revocation of the trade organizer's license, and

license

statement from the trade organizer.

13. The license action stops from the day of the adoption of the

cancellations of licenses, from the days of the Single State

registry of legal entities of trade organizer

or from the bottom of its activities as a result of the reorganization

(excluding reorganizing in the form of conversion).

Chapter 5: Final provisions

Article 29. Final provisions

1. organized

trades only

license, Federal by law,

exclude cases that are set by this article.

2. Organizations, with 1 January of the license

trading on the stock market, including licenses

stock exchanges, as well as commodity and currency exchanges licenses, are required

get the license provided by this Federal Law or

terminate implementation of trade organizer to

January 1, 2014.

3. In order to get Federal

license and legal form in

match with requirements 2

Federal Stock Exchange Act, effective on the date of entry into force

true Federal laws and are Non-commercial

partnerships, can be restructured in joint-stock companies.

The conversion must contain:

1) the rewriting condition in

Stock

Distribution

members of the exchange;

2) An assertion of the Shareholdings

societies with Charter application;

3) an indication of the transmission of the act with

gear ratio;

4) List of board members (tip )

Stock Company of the Society,

executive body of the joint-stock company, specifying

person of the sole function of the executive body

The

generated stock company.

4. Organized Members

activity on The Stock Exchange

stock broker on the day of the entry into force of this Federal

law, has the right to provide services for Part

Article 16 of this Federal Law, by 1 January 2014.

5. Until 1 January 2014 commodity and exchange

is recognized for of the Federal of the law

organizations.

6. Preface to this Federal

law of definitions and terms, used other Federal

laws, in the market

understand trade organizers, stock, goods

foreign exchange exchanges are listed as stock exchanges.

Article 30. Procedure for entry into force of this

Federal Law

1. This Federal Law comes into force on January 1, 2012.

years, for exceptions for for this article

has different deadlines for the entry into force.

2. Part 3 of Article 29 of this Federal Law shall enter into force

power from official of Federal

law.

3. Articles 3 to 15, parts 1, 2, 4 to 6 of article 16, articles 21 to 23,

Articles 25 to 28 of this Federal Law come into force with

January 2013.

Dmitry Medvedev

Moscow, Kremlin

21 November 2011

N 325-FZ