The Russian Trading System (RTS) is a large exchange structure on which securities are traded, accessible to both private investors and large companies and investment funds.

RTS was created in 1995 after the merger of several regional trading platforms into an organized securities market. Initially, RTS was created as an over-the-counter alternative. Bidders agreed on the deal over the phone, after which they submitted their bids in the electronic system.

Now the RTS is a full-fledged stock exchange where hundreds of different securities are traded. From the trading system, RTS has grown into a group that not only organizes trading, but also provides a wide range of additional services (clearing, depository, settlement).

RTS Group structure

• OJSC Stock Exchange "Russian Trading System" (controls the activities of all other structures);
• NPO CJSC "RTS Clearing House";
• CJSC RTS Clearing Center;
• CJSC Depository Clearing Company;
• OJSC "St. Petersburg Exchange";
• LLC "Technical Center RTS".

In addition, the RTS group includes a number of foreign exchange organizations located in Kazakhstan, Ukraine and England.

Activities of RTS

The RTS currently operates several trading platforms, both exchange-traded and over-the-counter, as well as a derivatives market. Let's look at each of them in detail.

Stock market

There are 4 platforms within the RTS stock market: RTS Classic, RTS Standard, RTS Start and the T+0 market.

Classic securities market

The RTS Classic market is the oldest organized platform for trading securities in Russia (it has been operating since the foundation of the exchange in 1995).

Features of the FORTS market

• relatively low costs for transactions for the purchase/sale of assets;
• no additional indirect costs (payment service fees and depository fees);
• great opportunities to use various trading strategies;
• the possibility of insurance against price fluctuations for certain assets (, dollar exchange rate);
• partial deposit of funds (initial margin);
• carrying out transactions with guaranteed income (for example, we sell futures and buy shares).

Among the main market opportunities that are available to everyone, it should be noted that speculative transactions with futures securities, as well as hedging (insurance) of existing risks.

Let's take a closer look at how these strategies are implemented for stock futures.

Speculation

Stock futures are an excellent tool for making profits: you can play on the rise or fall in stock prices in order to make a profit.

For example, you expect that in the future the shares of a certain company will increase in price - then you need to buy futures on shares of this company. If, on the contrary, you expect that the shares will fall in price, then you enter into a contract to sell futures.

The advantage of performing transactions on the futures market is also that when concluding a transaction on a futures contract, the investor contributes only a small fraction of the value of the asset (guarantee collateral of about 10-20%).

Consequently, the investor saves on transaction costs.

For example, you want to buy futures on shares of the Alpha company, the total cost of the contract is 100,000 rubles.

However, you will not have to pay the entire amount of the transaction, but only the amount of the guarantee, which is 15,000 rubles (this is what the broker will write off from your account). That is, having spent only 15,000 rubles, you actually bought a contract for 100,000 rubles.

Hedging

In this case, the investor’s actions are aimed at reducing possible risks associated with a fall in the price of his shares. To minimize possible losses in the stock market, the investor enters into a futures contract to sell.

As a result, possible losses on the stock market are compensated by profits received on the FORTS market.

For example, you have shares of the same company “Alpha”, which now cost 100 rubles per share. You are afraid that in a month these shares will fall in price, in order to insure against possible losses, you enter into a futures contract to sell securities at the current price.

Then, if in a month the price of the shares really falls, you will compensate for the losses by selling the shares at the price of 100 rubles, which was indicated when concluding the futures contract.

However, there is one thing: if the price rises, then on the contrary you will lose the opportunity to make a profit. That is, hedging is a kind of insurance, a tool that is aimed only at preventing possible losses, but not at making a profit.

Over-the-counter activities of RTS

RTS's over-the-counter activities include organizing the work of two indicative securities quotation systems: RTS-Board and RTS Global.

RTS Board

RTS Board is a special information system that began operating in 2001 and is designed to carry out indicative quoting of securities that were not admitted to trading on the RTS Stock Exchange.

Unlike the stock market, here we are dealing with quotes that are not based on actually completed transactions. Indicative quotes show that a given security could be sold at a certain price stated by the issuer.

The actual price of the security at the time of the transaction, if one takes place, will depend on a number of additional factors (the volume of the transaction, the day of settlement, the status of the buyer, etc.).

That is, the RTS Board is not a trading system, but an information system that allows potential investors to get acquainted with information about securities that are not admitted to public trading on the stock exchange.

For small domestic issuing companies, the RTS Board is a tool for initially increasing (the speed of sale) the securities they issue, as well as an opportunity to draw the attention of potential investors to new and promising securities.

RTS Global

RTS Global is an RTS project that began its work in 2008. The system allows investors from Russia to gain access to securities of foreign companies.

RTS Global is based on the technologies and operating principles of the RTS Board system, only here investors have access to information about indicative quotes of not domestic, but foreign securities.

In addition, with the help of the RTS Electronic Agreement Center (ECC) and CJSC Depository Clearing Company, Russian investors can, through the RTS Global system, enter into over-the-counter transactions with shares of a number of foreign companies, mainly companies from the CIS countries and Europe.

Thus, CJSC DCC has access to a number of foreign depositories, including:

• Clearstream Banking S.A. Luxembourg;
• Euroclear Bank S.A./N.V;
• National Depository of Ukraine;
• "Republican Central Securities Depository" of Belarus;
• Central Depository of Kazakhstan.

The emergence of an over-the-counter market for foreign securities in Russia has significantly expanded the boundaries and capabilities of the domestic stock market.

RTS Index

Since the RTS is a stock exchange, it is imperative to talk about the RTS stock index, which has been calculated on the exchange since the beginning of the first trading in September 1995.

The RTS Index is the main indicator of the general condition of the Russian stock market, reflecting its growth or decline.

The principle of operation of the index is the same as that of the index - it reflects the total change in the value of a certain set of securities based on the results of trading.

Only unlike, which takes into account changes in the price of shares of 30 companies, the RTS Index is calculated based on indicators of the dynamics of securities of the 50 largest enterprises in Russia, including:

• Aeroflot;
• Bashneft;
• Severstal;
• Gazprom;
• MMC Norilsk Nickel;
• INTER RAO UES;
• LUKOIL;
• Sberbank of Russia;
• Surgutneftegaz;
• and others.

It should also be noted that the RTS Index shows the total market capitalization (value) of shares of companies included in the list, expressed in relative units (points). In this case, unlike the MICEX Index, the value of shares in US dollars is taken for calculation.
Capitalization in this case is defined as the number of outstanding shares multiplied by their actual market value. It reflects the total value of an enterprise at a certain point in time.

Accordingly, if the value of shares of enterprises included in the list for calculation increases, the value of the RTS index also increases, if the value falls, the index falls. The index itself is calculated simply.

Let's say the initial capitalization of the companies was $100,000, the initial index value was 100 points. The companies' capitalization currently amounts to $500,000. Therefore, the index will be equal to 500,000/100,000 * 100 points * 1.0752559 = 537 points (1.0752559 is the established adjustment factor).

It is according to this scheme that the value of the RTS index is determined, the dynamics of which reflect the state of the domestic stock market.

What do you need to become a trading participant on the RTS?

Only legal entities that have licenses to carry out transactions with securities can take part in trading on the RTS markets.

If you want to participate in trading on the exchange as a private investor, then to carry out transactions on the RTS exchange, contact accredited professional intermediaries (brokers, dealers, management companies) who have the appropriate licenses and experience in performing such transactions.

Encyclopedic YouTube

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Subtitles

History of the RTS Stock Exchange

In 1995, professional market participants approved the “Non-Profit Partnership for the Development of the Financial Market (NP RTS)” to create a platform for organizing and regulating over-the-counter trading in securities. This is how the Classic RTS stock market was created.

The basic principles of trading on the classical market are the ability to enter into transactions by choosing the currency, payment method and time. Trading is carried out on the basis of non-anonymous quotes without preliminary deposit of securities and funds, which makes it possible to organize trading on the widest possible range of securities.

Based on prices formed on the classical stock market, the RTS Index has been calculated since 1995, which has become (along with the MICEX Index) one of the main indicators of the Russian stock market. The RTS Index is calculated based on quotes for 50 securities of the most capitalized Russian companies.

At the beginning of 2000, RTS received a stock exchange license. And a little later, on the basis of the RTS exchange, the most successful futures and options market in Russia, FORTS, appeared.

Also in 2001, the RTS derivatives market began operating for trading derivative financial instruments. The use of futures and options provides investors with the opportunity to implement various strategies: carry out speculative operations, hedge risks, conduct arbitrage, effectively manage a portfolio of shares using RTS Index futures.

In 2004, according to new regulation, the RTS exchange business was transferred to the organizational form of a joint stock company.

On May 26, 2008, an evening trading session was introduced on the RTS FORTS futures and options market. The main trading session ends at 18:45 Moscow time, after which a clearing session is held. The evening session lasts from 19:00 Moscow time to 23:50 Moscow time. Settlements for transactions concluded during this period are carried out at 14:00 Moscow time the next day.

On March 26, 2009, trading began on the Eurasian Trading System Commodity Exchange JSC (ETS) in Almaty, Kazakhstan. The first product put into circulation was third-grade wheat. Currently traded goods on the ETS: wheat, rye, barley, sunflower seeds.

On April 23, 2009, trading began on the new ruble market for RTS Standard shares. Trading is carried out on the 20 most liquid securities of Russian issuers.

On December 19, 2011, an entry was made into the Unified State Register of Legal Entities (USRLE) about the termination of the activities of RTS OJSC, and the registering body registered the Charter of the Open Joint Stock Company "MICEX-RTS" in a new edition - a transaction on the merger of RTS OJSC and CJSC MICEX (now OJSC Moscow Exchange).

RTS Board

RTS Board is an information system designed for indicative quoting of securities not admitted to trading on the RTS. The system was put into operation on February 15, 2001.

In accordance with the “Procedure for creating a list of instruments of the RTS Board information system” approved by the Board of Directors of RTS OJSC, the system may include shares, bonds, investment shares, securities issued by Russian and foreign issuers.

From the point of view of issuers, the RTS Board system is a simple and effective tool for initially increasing the liquidity of securities, the task of which is to draw the attention of investors to promising securities.

Thus, issuers have the opportunity to “present” their securities to the professional investment community, with a view to their further promotion, as well as their listing on the RTS exchange trading.

In 2007, 61 securities of 50 issuers were transferred to the main RTS trading on the Classic and Exchange markets.

As of 2015, 1,177 securities of 917 issuers are quoted in the RTS Board system.

After the merger of the exchanges, the project continues to operate on the basis of the Non-Commercial Partnership for the Development of the RTS Financial Market (NP RTS). In December 2014, the system was modernized and transferred to a new technology platform.

RTS-Tender

RTS tender is an electronic platform for state and municipal procurement in accordance with Federal Law No. 44 “On the contract system in the field of procurement of goods, works, services to meet state and municipal needs.”

The Russian Trading System (RTS) is one of the two largest exchange platforms designed for trading Russian securities. It was organized in 1995 as an alternative to the MICEX, which already existed at that time. After almost 20 years, RTS has transformed into a large-scale structure that not only provides access to exchange trading to private and professional investors, but also provides a number of additional services, including clearing, settlement and depository.

The concept of the RTS index

the state of the Russian securities market, which is calculated on the basis of transactions with securities concluded on the RTS trading platform. Its value reflects the total market capitalization of shares traded on the Russian stock market. In turn, the capitalization of each individual company is the market value of one share multiplied by the total number of shares outstanding, and reflects the real market value of the company.

The RTS Index, along with the MICEX Index, is the main indicator of the state of the domestic stock market. However, after the merger of the MICEX and RTS trading platforms, the calculation of both indicators is actually carried out by the same combined MICEX-RTS. The main difference between these two indicators is that the MICEX index is calculated in rubles, while the RTS index is calculated in dollars. Therefore, its change is influenced not only by the dynamics of prices for shares of Russian companies, but also by changes in the exchange rate of the ruble against the dollar. In conditions of constant growth of the US dollar exchange rate, the RTS index shows more positive dynamics compared to the MICEX index. That is, its value grows faster and decreases slower compared to its “competitor”.

Types of RTS indices

RTS stock indices include a whole family of different calculated indicators. These include: the RTS Standard index, the RTS-2 index, the volatility index (RTSVX), the RTS Siberia index (RTSSIB) and a number of industry indices.

The main RTS index (RTSI) is calculated based on information on trading in shares of the 50 largest Russian companies. These include Gazprom, Lukoil, Sberbank, Surgutneftegaz and a number of shares of other companies. To include a company's shares in the RTS index, they must meet two criteria. First, the shares must be admitted to trading on the RTS exchange. Secondly, the company’s capitalization must be at least 0.5% of the total capitalization of all shares included in the index. The list of companies is revised quarterly.

Calculation algorithm

The RTSI index is calculated starting from September 1, 1995. It was then that trading in securities began on the RTS trading platform. Its value is reflected in relative units. On the date of the first day of trading, the RTSI index was conditionally assumed to be equal to 100 points.

In order to understand what the RTS index is, we will give a conditional example of calculating its value. Let's assume that as of September 1, 1995, the total capitalization of companies whose shares were included in the RTSI index was $500,000. On the conditional date of the next settlement, it has grown, say, to $850,000. The conditional value of the index in this case will be:

850,000/500,000*100 points*1.0752559 = 183 points (1.0752559 is the correction factor used in the calculations).

In other words, the stock market capitalization increased by 1.83 times.

Calculation procedure

The RTS index is calculated based on data on the purchase and sale prices of shares included in the index. This is done every 15 seconds, that is, in real time. But for trading participants and stock market analysts, the most important information is provided by data on the value of indices as of the opening and closing of trading, as well as the maximum and minimum values ​​at the end of the trading session. It is this data that they use to analyze the dynamics and trends in share prices of Russian issuers.

Now it has become clear what the RTS index is and what is the algorithm for calculating it. It's time to evaluate the change in its value during trading on the RTS stock exchange. Index values ​​are constantly changing. This complex process is influenced by a whole range of different factors, which include the state of the world economy as a whole, the macroeconomic situation in the country, the state of a specific industry, and, of course, the state of affairs in each individual company. Today, in the world classification, Russia belongs to developing markets. Therefore, the values ​​of domestic stock indices react very sensitively to fluctuations in indices of developed markets, including NASDAQ and DowJones.

History of changes in the RTS index

1260 points - this is exactly the value the RTS index has today. The dynamics indicate that over the past 19 years, the capitalization of the Russian stock market has grown more than 12 times. At first glance, everything looks very optimistic. But is this really so?

The index reached its maximum value in May 2008. At that time it was 2498.10 points. However, the 2008 crisis led to a serious decline in the capitalization of Russian companies. As a result of this fall, the index value dropped to a level of 80 points. Despite the recovery of the Russian economy, the domestic stock market still cannot fully recover from the serious losses it suffered. As a result, today the leading companies in the Russian economy are worth almost twice as much as in mid-2008. And this is taking into account the growth of the dollar against the ruble by more than 10 rubles. (from the level of 23-25 ​​rubles to today’s 35 rubles per dollar).

What is the RTS index? This is a kind of state of the Russian stock market, and, consequently, the entire economy as a whole. It is on the basis of its dynamics that we can draw a conclusion about how successfully the largest domestic companies are developing. Analysis of changes in the index allows us to draw a conclusion about the current state of the securities market and is one of the main criteria for making decisions on the purchase or sale of shares of Russian issuers.

The Russian Trading System (RTS) arose a long time ago, but it was in its current form that the classic system arose in 1995, as an analogue of the world stock exchange securities markets.

RTS is a market for all types of securities that operate in the Russian Federation. It serves as the basis for determining stock prices, futures prices, etc. At the same time, the market serves as a reference point both for the exchange market and for transactions outside it.

RTS functions

The main functions of the market are:

• determining the value of securities. The RTS market is the oldest analogue of such an exchange in Russia;
• transactions. The majority of transactions involving the purchase and sale of securities are carried out within the framework of the RTS.

These are the two main functions of the market that make it a leader in the Russian Federation.

RTS unites all markets of the Russian Federation: oil, telecommunications, energy, consumer sector, banks, metallurgy and energy.

The market offers shares of more than five hundred of the largest companies in the Russian Federation, as well as investment shares. Thanks to such a wide range of representative offices, the market serves as a reference point not only for the Russian Federation, but also for international investors.

RTS segments

The market is clearly divided into trading platforms, which makes it more convenient:

• RTS standard. Uses the most modern exchange technologies, and is intended for large investors and individuals. Payments are made only in rubles. There is also a system of anonymous payments. RTS-Plaza terminal systems are used. The market is considered the most innovative in the RTS system, and is characterized by active development.

• RTS start. This segment involves trading in securities of small companies. Serves to attract investment in. A special feature of the market is that there is no prepayment for certain transactions. There is also the possibility of payment in foreign currency, although for other platforms payment is only in Russian rubles.

• FORTS derivatives market. This is a section of the RTS that specializes in futures and options trading. That is, on this site you can agree in advance on the price of assets. In this case, the seller cannot change the price by , regardless of changes in the market.

• Classic RTS market. The oldest platform for trading securities of large Russian companies. Only professional participants can participate in bidding in this segment. It is the prices on this site that serve to determine the RTS index.

• Market T+0. A market that targets individuals. You can take part in the auction personally or use the services of intermediaries. Allows you to work anonymously. It works on the principle of an auction, where you make an offer and buy shares at a certain price, and if you receive a positive response, you receive your shares. The entire system uses an online sales scheme. That is, there is no need to be present in any places. This site is the most popular.

Exchange logo before rebranding

RTS Group dates back to the year since the launch of trading in securities on Classic RTS market. The basic principles of trading on the Classic market are the ability to enter into transactions by choosing the currency, payment method and time. Since trading began in 1995 RTS Stock Exchange was built on the basis of non-anonymous quotes without preliminary deposit of securities and funds, which allows organizing trading on the widest possible range of securities.

Based on prices formed on the Classic market shares, calculated since 1995 RTS Index. This is the main indicator of the Russian stock market, recognized not only in Russia, but also abroad. The methodology for its calculation is constantly being improved, which allows it to maintain its leading position as the leading indicator of business activity in Russia. RTS Index is calculated based on quotes for 50 securities of the most capitalized Russian companies.

The system was put into operation in February 2001 RTS Board- Information system RTS Stock Exchange RTS. IN RTS Board You can post quotes for 1780 securities 1344 issuers.

Also started working in 2001 Derivatives market RTS FORTS. FORTS is the leading platform in Russia for trading derivative financial instruments. The use of futures and options provides investors with the opportunity to implement various strategies: carry out speculative operations, hedge risks, conduct arbitrage, effectively manage a stock portfolio using futures on RTS Index, which in 2007 became the most liquid instrument of the Russian stock market.

On November 23, 2004, trading began for RTS exchange market. Here, securities trading is carried out in anonymous trading mode using the principle of a continuous double auction of counter orders (Order-Driven Market), using the “delivery versus payment” technology with 100% preliminary deposit of assets and settlements in rubles. Priority areas of activity RTS exchange market are to increase the liquidity of the ruble segment of the securities market using a mechanism of effective control by a wide range of professional participants in the securities market and to develop the “second-tier” stock market.

On November 15, 2005, anonymous electronic trading mode was launched. The most liquid stocks are traded here Classic market RTS.

In 2007, a platform for small and medium capitalization companies began operating RTS START.

Open Joint Stock Company "RTS Stock Exchange" the only exchange platform in Russia that exists in the form of an OJSC, and whose shares are freely traded on the market.

In 2008, a new project, which has no analogues in Russia, was launched OJSC "RTS Stock Exchange" - RTS Global.

In May 2008, RTS initiated the creation of Ukrainian Exchange OJSC, a joint project with Ukrainian securities traders. The goal is to simplify access to the Ukrainian stock market and push PFTS out of it.

RTS markets

Classic stock market

Classic RTS market- the oldest organized securities market in Russia. Began work on July 5, 1995. Then bidders who had terminals RTS, could post quotes for Russian shares and negotiate over the phone on the conclusion and execution of a transaction. Today, the basic principles of trading on the Classic market are the absence of 100% preliminary deposit, the choice of date and payment method, and the possibility of settlements in foreign currency. There is no need for preliminary transfer of securities and funds for trading, which ensures high efficiency of operations.

As of today Classic RTS market a wide range of securities is presented - more 540 shares, bonds and investment shares. The exchange is actively developing trading technologies, creating conditions for increasing the profitability and efficiency of transactions carried out by market participants.

Thus, the most significant event for the entire organized securities market of Russia in 2007 was the introduction By RTS Group into operation of technology for concluding transactions through Central counterparty. This technology is used in the Electronic Trading Mode of the Classic Market and in the Trading Mode with full preliminary deposit of assets of the Exchange Market. OJSC "RTS Stock Exchange" became the first exchange in Russia to launch the technology Central counterparty on a transaction that is widely used by leading exchange platforms around the world.

In 2008 RTS became the first exchange platform in Russia to launch netting in bidding mode without 100% preliminary deposit. Introduction netting led to a reduction in the overall costs of market participants when conducting transactions, simplified settlements for transactions and increased efficiency in general. In addition, technology unique to the Russian market netting significantly facilitated the work of participants' back offices and allowed brokers to offer their clients more favorable terms of service on the Russian stock market. An important consequence of the introduction netting was the creation of competitive advantages for brokers providing direct access to this trading mode RTS to its clients, both residents and non-residents, using online trading systems.

Futures and options market FORTS

Derivatives market FORTS- a leading platform for trading futures and options in Russia and Eastern Europe, as well as one of the largest markets in the world for trading derivatives. According to one of the largest independent derivatives associations Futures Industry Association for the first half of 2008, futures and options market FORTS is in 15th place in terms of trading volume among all derivatives exchanges in the world.

According to this indicator, it bypassed such well-known sites as

• American Stock Exchange,
• Zhengzhou Commodity Exchange,
• Hong Kong Exchanges & Clearing,

Currently on the market FORTS futures and options are traded, the underlying assets of which are: RTS Index, industry indices, shares and bonds of Russian issuers, federal loan bonds, foreign currency, average overnight loan rate MosIBOR and three-month loan rate MosPrime, as well as goods - brand oil

RTS Board

RTS Board- Information system OJSC "RTS Stock Exchange" intended for indicative quotation of securities not admitted to trading in RTS. The system was put into operation on February 15, 2001.

In accordance with approved by the Board of Directors OJSC "RTS""The procedure for creating a list of information system tools RTS Board the system may include shares, bonds, investment shares, securities issued by Russian and foreign issuers.

From the point of view of issuers, the system RTS Board- a simple and effective tool for initially increasing the liquidity of securities, the task of which is to draw the attention of investors to promising securities.

Thus, issuers have the opportunity to “present” their securities to the professional investment community, with a view to their further promotion, as well as their introduction to exchange trading RTS.

For now RTS Board is the leader in Russia in terms of the number of securities listed there. It includes 1,780 securities from 1,344 issuers.

In 2007, 61 securities of 50 issuers were transferred to main trading RTS on Classical And Exchange markets.

RTS START

On January 30, 2007, a platform for small and medium capitalization companies began operating RTS START. The project is intended to facilitate the admission of securities of small and medium capitalization issuers to trading during the placement and/or circulation process.

RTS START is a segment of the main trading of the exchange securities market RTS, in which, in addition to the basic conditions, securities and their issuers are subject to a number of requirements aimed at protecting the rights and legitimate interests of investors. Issuer's securities included in the segment RTS START, are simultaneously admitted to trading in RTS.

One of the striking examples of successful initial placement in RTS START is the IPO of Armada OJSC, held in July 2007. 80% of placements went through RTS START. Already in November, the company’s shares were transferred from Quotation List “I” to Quotation List “B”, and capitalization from the moment of placement by the end of the year increased by more than 134%.

RTS START- a new direction in the development of the Russian stock market, which has a positive impact on the formation of a class of IPO organizers specializing in placements of small and medium-cap companies, and also gives additional impetus to the formation of a class of investors focused on investing in securities of small fast-growing companies.

Creation and development of the segment RTS START will allow Russian small capitalization companies to attract the necessary investments using the mechanisms of external financing programs and the exchange infrastructure of the securities market.

RTS Global

RTS Global- a new project that has no analogues in Russia OJSC "RTS Stock Exchange". RTS Global allows Russian investors to gain simple and effective access to foreign securities. This involves the possibility of issuing indicative quotes for foreign securities, concluding over-the-counter transactions using technologies from the Center for Electronic Contracts RTS(CED), as well as settlements on transactions with foreign securities in CJSC DCC.

The formation of an over-the-counter Russian market for foreign securities is intended to significantly expand the opportunities of participants in the Russian stock market by qualitatively supplementing the investment portfolio with new financial instruments and opening up new promising financial markets for foreign issuers.

RTS Global implemented on the basis of technologies of the information system of indicative quotations - RTS Board, which is the leader in Russia in terms of the number of securities listed there. All price information for each security is constantly updated in real time on the website RTS.

Depository services

Closed Joint Stock Company "Depository and Clearing Company"(ZAO DCC) is a key element of the infrastructure of the Russian securities market. DCC belongs to the group RTS and is the largest Russian settlement depository for shares.

CJSC "DCC" was created in October 1993 to provide services in the field of depository activities. In 1996, the company received a license to carry out depository and clearing activities as a settlement and depository organization. The main area of ​​activity of the company is currently providing the following services:

• accounting and storage of securities;
• clearing and settlements on the securities market;
• assistance in the implementation of corporate actions.

The main storage object DCC are corporate stocks and bonds. Since 2003, the company has been working with shares of mutual investment funds, since 2006 - with Eurobonds, American and global depositary receipts.

Depositors DCC There are about 400 organizations, including such large professional participants in the securities market as Alfa Bank OJSC, Antanta-Capital LLC, Aton LLC, Renaissance Broker LLC, Troika Dialog CJSC.

Clearing in RTS

CJSC RTS Clearing Center(CC RTS) carries out clearing on FORTS derivatives market and on RTS stock market.

CC RTS is one of the most capitalized clearing organizations in Russia. During its operation, the risk management system RTS Clearing Center has repeatedly confirmed its reliability, having withstood the tests of high volatility on the Russian stock market and a significant volume of open positions of market participants.

RTS Clearing Center provides a high level of guarantees to transaction participants, largely due to the progressive system of forming a guarantee fund.

Notes

Links

• Official website of the exchange
• Forecasts 2009: fortune telling on the RTS - Private Correspondent (December 25, 2008)

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