Listingrule s

Requirements applicable in connection with inclusion:

№	Conditions to the inclusion in:	Level One	Level Two
1.	Net assets value of mutual investment fund	At least RUB 1 billion	At least RUB 250 million
2.	Requirements to trading volume with investment units of mutual investment fund	The daily trading volume amounts to at least RUB 5 million in at least two thirds of trading days over the three months preceding the decision to include the investment units in Level One	The daily trading volume amounts to at least RUB 100 thousand in at least two thirds of trading days over the three months preceding the decision to include the investment units.

2. 
   Grounds for exclusion:
   

№	Grounds for exclusion	Level One	Level Two
1.	Net assets value of mutual investment fund	Less than RUB 1 billion for 1 month.	Less than RUB 250 million

2.9. Requirements for inclusion of investment units of mutual investment funds:

No.	Conditions for inclusion	Level 1	Level 2
1.	The market maker’s activities provided for by the Rules of trust management of the exchange traded mutual investment fund	The volume of investment unit transactions during Exchange trading by a market maker of an exchange traded mutual investment fund within the main trading session / trading period of a single trading day, upon reaching which, the market maker’s obligation shall be ceased that day, is at least 50 million roubles, or	The volume of investment unit transactions during Exchange trading by a market maker of an exchange traded mutual investment fund within the main trading session / trading period of a single trading day, upon reaching which, the market maker’s obligation shall be ceased that day, is at least 10 million roubles, or
		the period of performing the market maker’s obligation by the market maker of an exchange traded fund within the main trading session / trading period of a single trading day shall be at least three quarter of the trading time of that day	the period of performing the market maker’s obligation by the market maker of an exchange traded mutual investment fund within the main trading session / trading period of a single trading day shall be at least 50 % of the trading time of that day
2.	The number of trading days, during which the market maker’s obligations on the investment units of an exchange traded investment fund need not be performed	Not more than three trading days per month	Not more than three trading days per month

2.10. Reasons for excluding investment units of exchange traded mutual investment funds:

No.