Fixed Income Rules

Trading Rules – Russian bonds

Troika Dialog Reuters pages (TRDBONDS, TRDBONDT) and Bloomberg pages (TRDB) are open to all market participants. The prices are also shown on Troika Dialog web-site. In case of any technical delays on the web-site, the prices on Reuters pages will be applicable.
Trades will be executed within the current limits set by Troika Dialog.
All trades will be executed by telephone, via Bloomberg or Reuters Dealing with confirmations following, as per the normal practice with Troika Dialog.
Market participants may select only one quote at any one time, that is, only one instrument at the indicated price for only one lot size. After each telephone call and/or deal executed, Troika Dialog reserves the right to change prices on any or all instruments.
The list of instruments and lot sizes for which the prices are shown by Troika Dialog can be seen on Troika Dialog Reuters, Bloomberg pages and web-site. For non-standard lot sizes prices may vary.
The prices are for institutional investors only. For other investors prices may vary.
For bonds all prices are firm for standard market settlement ( T+5 for RUR bonds, T+3 for Eurobonds and T+7 for Minfins). For other settlement days prices may vary. Settlement for RUR bond trades will be performed as per negotiated deals mode with MICEX.
When the notice "Adjusting Prices Now" appears on the screen, all prices are only indicative.
Troika Dialog shows its prices on RUR and Hard Currency bonds from 10:00 am till 6:00 pm Moscow time.

Closed joint stock company "Investment Company "Troika Dialog" may provide brokerage and depository services on the basis of the following licenses granted by FSFM of Russia and provide other related services on the securities market:

— №177-06514-100000 for brokerage activities as of April 08, 2003;
— №177-06518-010000 for dealer activities as of April 08, 2003;
— №177-06522-001000 for securities management activities as of April 08, 2003;
— №177-06527-000100 for depository activities as of April 08, 2003;

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Informative and analytical services and data are provided by CJSC IC "Troika Dialog" only within the framework of the abovementioned services and do not constitute a separate kind of activity.

CJSC IC "Troika Dialog" may refuse to provide services to persons who do not meet the requirements, imposed by CJSC IC "Troika Dialog" for its clients, or when legislation applicable to such persons prohibits/restricts the provision of these services to them, as well as in other cases stipulated by applicable legislation and/or internal regulations of CJSC IC "Troika Dialog".