Listingrule s

Article 4. List of Securities Admitted to Trading. General Provisions

1. 
   Securities shall be admitted to trading on the Exchange by means of listing. The Exchange shall effect listing of the securities by including them in the List.
   

Securities may be listed in the course of their placement and circulation, whereas investment units of a unit investment fund and mortgage participation certificates, in the course of their circulation.

2. 
   The Exchange shall maintain the List in an electronic form and shall disclose the List by posting it on the website of the Exchange.
   
3. 
   The List shall contain the information (parameters of securities) on each security, including the following information in relation to each security:
   

1. 
   information about the quotation list in which the securities are included (Level One or Level Two), and the date of inclusion of these securities in the quotation list), or an indication that the securities are not included in the quotation list (Level Three and the date of inclusion of these securities in (Level Three));
   
2. 
   full corporate name of the issuer (for a commercial organization) or the name (for a non-commercial organization) of the issuer or the person obligated under the securities;
   
3. 
   type, category (type) of securities, for domestic or foreign depository receipts additionally the information about the type and the category (type) presenting securities shall be disclosed; for investment units – additionally the information on the full name (individual designation) of mutual fund investment (foreign investment fund) shall be disclosed; for mortgage participation certificates – additionally the information identifying their individual marking shall be disclosed;
   
4. 
   registration number of the securities issue (additional issue) and the date of its registration (with the exception of securities of foreign issuers, investment units and mortgage certificates of participation);
   
5. 
   the number and date of registration of the trust management rules of the mutual fund or the rules of trust management of mortgage (in the case of inclusion in the List of investment units of mutual funds or mortgage participation certificates), and for mutual fund, the investment shares of which are intended solely for qualified investors, the date of introduction of this mutual fund in the register of unit investment funds (in case of inclusion in the List of investment units of mutual funds);
   
6. 
   international security ID code (number) (ISIN) and the international classification code of financial instruments (CFI) assigned to the securities being represented to the securities or the securities of a foreign issuer (in case of inclusion in the List of Russian depositary receipts or securities of a foreign issuer, including foreign depositary receipts) ;
   
7. 
   the par value of the security (if any) indicating the currency in which such par value is denominated;
   
8. 
   information on any facts of the issuer's default or (and) the issuer's technical default (in case of inclusion in the List of bonds). This information shall be deleted from the List simultaneously with its exclusion from the Security Information File.
   

4. 
   The List shall provide links to respective sections (pages) of the website of the Exchange containing information on each security on the List, and on the Entity (earlier and hereinafter, the Security Information File or File as indicated in Clause 18.7 Article 18 of these Rules).
   

5. 
   Changes to the List shall be made in connection with any change in the parameters of the securities included in the List and/or the information contained in the List, in connection with any decisions, made by the Exchange, to list any securities, to change the listing level, or delist any securities, or to retain on the List, as well as in connection with other procedures performed by the Exchange as envisaged by these Rules.
   

Upon any change in the information of securities and the Entity and/or securities parameters included in the List, changes to the List shall be effected, among other things, on the basis of:

• 
  notice/information given by the Clearing House and/or the Settlement Depositary;
  
• 
  notification, documents and information received from (disclosed by) the Entity;
  
• 
  performance, by the Exchange, of the procedures as envisaged by these Rules.
  

If required, appropriate changes shall be made to the Exchange Trading System.

5. 
   In order to obtain a recommendation, the Exchange may inquire with the Expert Council on Listing in relation to any of the following:
   

• 
  listing of securities on the List (sectors/segments of the List)/trading start date determination;
  
• 
  changing of the listing level;
  
• 
  registration of an issue (additional issue) of securities, Exchange-registered bond program, securities prospectus;
  
• 
  registration (approval) of changes to a decision on the issue (additional issue) of securities, to the Exchange-registered bond program, securities prospectus
  
• 
  suspension and resumption of securities trading;
  
• 
  termination of trading in securities, as well as delisting of securities from the List (sectors/segments of the List);
  
• 
  otherwise in connection with the listing procedures as envisaged by the Rules.
  

The procedure for the Expert Council on Listing is defined by the Regulation on the Expert Council on Listing approved by the Exchange and disclosed . on the Moscow Exchange's website.

5. 
   A decision of the Exchange to consider any violations material and systematic as envisaged by the Rules, shall be made by the Exchange solely for the purposes of making a decision to retain securities on the List (in particular, in Level One or Level Two sections) or making a decision to delist (or change the listing level of) the securities (in particular, exclude from Level One or Level Two sections), or otherwise intervene as envisaged by these Rules.
   

The Exchange shall approve the violation regularity and materiality criteria. The regulation shall not be presented or disclosed on the website of the Exchange, unless the law of Russian Federation requires so.

5. 
   Fees for the following services envisaged by these Rules (hereinafter, the listing service) shall be subject to approval by the Exchange:
   

1. 
   inclusion (change of the listing level) of securities in, and maintenance on, the respective List section (Level One, Two or Three);
   
2. 
   securities placement (admission of securities to trading in the process of placement);
   
3. 
   registration an issue (additional issue) of Exchange-registered bonds, Exchange-registered bond program, Exchange-registered bond prospectus, Exchange-registered RDR issue;
   
4. 
   registration (approval) of amendments to decisions authorising an issue of Exchange-registered bonds, Exchange-registered bond program, Exchange-registered bond prospectus, or to decisions authorising an issue of Exchange-registered RDR and/or to Exchange-registered RDR Prospectus;
   
5. 
   preliminary review of documents for listing of securities (inclusive of Exchange-registered bonds) on the List (changing the listing level);
   
6. 
   preliminary review of documents for listing of Exchange-registered bonds and of issue-related documents in relation to Exchange-registered bonds;
   
7. 
   preliminary review of issue-related documents in relation to Exchange-registered bonds.
   

The fee may be set whether for each of the above-mentioned listing services or for a package of listing services depending on the procedures provided by the Rules.
The information on the amount of such fee (or a change in the amount of such fee), together with a description of the fee calculation process shall be disclosed via the website of the Exchange.
The time frame and the procedure for the payment of the fee for the listing services shall be defined in the respective listing service agreement.

5. 
   Upon listing (delisting, or change in the listing level) of securities, the Exchange shall notify the Applicant and the Entity of the decision made electronically within the time frames envisaged by these Rules, with subsequent confirmation of such notice by mail or personal delivery against acknowledgment of receipt. The form of such notice shall be disclosed via the Exchange website.
   
6. 
   For the purposes of these Rules, sending of documents, by Moscow Exchange, via electronic telecommunication channels, shall also be understood as the sending of documents via the "Issuer's Personal Account" system, in particular, as an electronic document verified by an electronic signature. The formats of electronic documents, as well the procedure for their generation and transmission shall be approved by Moscow Exchange.
   
7. 
   Where electronic interaction exists between Moscow Exchange, the Entity and the Applicant, if Moscow Exchange sends any documents referred to in these Rules in the form of electronic documents verified by an electronic signature, documents shall not be sent in any other form. Copies of documents on paper shall be provided by Moscow Exchange at the Entity request.
   
8. 
   The activities envisaged by these Rules as necessary for the listing/delisting of securities in the process of their placement and/or circulation, suspension (termination) and resumption of trading in securities, registration activities or for the maintenance of securities (current monitoring and control) shall be performed by a separate structural unit of the Exchange, the Listing Department.
   
9. 
   These Rules shall apply to foreign issuers' securities insofar as they may be applicable to the foreign issuer (issuer of underlying securities) and/or its securities with due regard to the specific regulations of the foreign issuer's proper law or incorporation or internal documents of an international financial institution.
   
10. 
    These Rules shall apply to securities issued by the Exchange insofar as they may be applicable to the Exchange as an issuer with due regard to specific provisions of these Rules.
    
11. 
    For the purposes of determining any monetary values envisaged by these Rules and denominated in Roubles, if calculated on the basis of foreign currency-denominated values, the foreign currency shall be translated into Roubles at the official exchange rate set by the Bank of Russia or, if no such official exchange rate is available, at such currency cross-rate to Rouble as of the respective value calculation date.