Listingrule s

1. The grounds shall apply in the manner set out in Clause 3.5 Article 22 of these Rules.


2. The grounds for exclusion in relation to the Prescribed Legal Entity shall apply where the foreign issuer's securities prospectus contains provision(s) that any revenues from securities placement will be passed over to the Prescribed Legal Entity.
3. The Exchange only applies credit ratings assigned to bonds issues and does not apply issuer or surety (guarantor) ratings if bonds have been listed in pursuance with the Exchange’s resolution on setting bond issue criteria subject to which the Exchange shall apply bond issue credit rating only.


4. This ground shall apply in the manner set out in Clause 3.5 Article 22 of these Rules.

2.17. Requirements in connection with the inclusion of securities of a foreign exchange-traded investment fund:

№	Conditions to the inclusion in:
	Level One	Level Two
1.	The volumes of trading in the securities conducted by market-makers of the foreign exchange-traded investment fund during the trading time (trading period, if provided for in the on-exchange trading rules) in each main trading session which, once achieved, releases the market-maker of its duty for that day, is at least RUB 50 million, or	The volumes of trading in the securities conducted by market-makers of the foreign exchange-traded investment fund during the trading time (trading period, if provided for in the on-exchange trading rules) in each main trading session which, once achieved, releases the market-maker of its duty for that day, is at least RUB 30 million, or
2.	provided that during the above-mentioned period of time, the period during which the foreign exchange-traded investment fund market-makers perform their duties amounts to at least three quarters of the trading time (trading period, if provided for in the on-exchange trading rules), of each main trading session^1	provided that during the above-mentioned period of time, the period during which the foreign exchange-traded investment fund market-makers perform their duties amounts to at least 65% of the trading time (trading period, if provided for in the on-exchange trading rules), of each main trading session^1

1. These conditions must be set out in the agreement with the market-maker. It shall be possible not to meet the obligations of a market-maker for the securities of a foreign exchange-traded fund, but not more than for 3 working days a month.

2.18. Schedule of requirements to the issuer's corporate governance which are to be met for shares to be included in Level One