ORDER OF THE FEDERAL SERVICE FOR FINANCIAL MARKETS OF THE RUSSIAN FEDERATION

of December 28, 2010 No. 10-78/pz-n

About approval of the Regulations on activities for the organization of trade in the security market

List of amending documents

According to Items 3, the 4 and 13 article 42 of the Federal Law of 22.04.1996 No. 39-FZ "About the security market" (The Russian Federation Code, 1996, No. 17, Art. 1918; 1998, No. 48, Art. 5857; 1999, No. 28, Art. 3472; 2001, No. 33, Art. 3424; 2002, No. 52, Art. 5141; 2004, No. 27, Art. 2711; No. 31, Art. 3225; 2005, No. 11, Art. 900; No. 25, Art. 2426; 2006, No. 1, Art. 5; No. 2, Art. 172; No. 17, Art. 1780; No. 31, Art. 3437; No. 43, Art. 4412; 2007, No. 1, Art. 45; No. 18, Art. 2117; No. 22, Art. 2563; No. 41, Art. 4845; No. 50, Art. 6247, Art. 6249; 2008, No. 44, Art. 4982; No. 52, Art. 6221; 2009, No. 1, Art. 28; No. 7, Art. 777; No. 18, Art. 2154; No. 23, Art. 2770; No. 29, Art. 3642; No. 48, Art. 5731; No. 52, Art. 6428; 2010, No. 17, Art. 1988; No. 41, the Art. 5193) and the Regulations on the Federal Service for Financial Markets approved by the Order of the Government of the Russian Federation of 30.06.2004 No. 317 (The Russian Federation Code, 2004, No. 27, Art. 2780; 2005, No. 33, Art. 3429; 2006, No. 13, Art. 1400; No. 52, Art. 5587; 2007, No. 12, Art. 1417; 2008, No. 19, Art. 2192; No. 46, Art. 5337; 2009, No. 3, Art. 378; No. 6, Art. 738; 2010, to No. 26, of the Art. 3350), I order:

1. Approve the enclosed Regulations on activities for the organization of trade in the security market (further - the Provision).

2. Determine that:

2.1. Organizers of trade (including stock exchanges), and also other professional participants of the security market shall bring the activities into accord with requirements of this Order within 3 months from the date of the introduction it in force.

2.2. From the effective date this Order clearing organizations:

1) stipulated in Item 3.4 Provisions perform registration of participants of clearing and their clients according to the procedure;

2) is sent to participants of clearing by reports following the results of clearing on the transactions made through the organizer of trade during the substantive trading session no later than 20 hours of local time;

3) is provided to stock exchange of the information necessary for disclosure of information, by stipulated in Item 7.22 Provisions, no later than 16 hours of local time of the working day following reporting week.

3. The name of the Order of the Federal Service for Financial Markets of 09.10.2007 No. 07-102/pz-n "About approval of the Regulations on activities for the organization of trade in the security market" (it is registered in the Ministry of Justice of the Russian Federation 14.11. Registration No. 10489) to state 2007, in edition: "About modification of some regulatory legal acts of the Federal Service for Financial Markets".

4. Declare invalid:

Items 1, 2, 2.1, 2.2 of the Order of the Federal Service for Financial Markets of 09.10.2007 No. 07-102/pz-n "About approval of the Regulations on activities for the organization of trade in the security market" (it is registered in the Ministry of Justice of the Russian Federation 14.11. 2007, registration No. 10489);

Item 2 of changes which are made to Orders of the Federal Service for Financial Markets approved by the Order of the Federal Service for Financial Markets of 13.11.2008 No. 08-52/pz-n "About introduction of amendments to some Orders of the Federal Service for Financial Markets" (it is registered in the Ministry of Justice of the Russian Federation 15.12. 2008, registration No. 12864);

The order of the Federal Service for Financial Markets of 23.12.2008 No. 08-59/pz-n "About modification of the Regulations on activities for the organization of trade in the security market approved by the Order of the Federal Service for Financial Markets of 09.10.2007 No. 07-102/pz-n" (it is registered in the Ministry of Justice of the Russian Federation 02.02. 2009, registration No. 13231);

Item 2 of changes which are made to some regulatory legal acts of the Federal Service for Financial Markets approved by the Order of the Federal Service for Financial Markets of 10.11.2009 No. 09-45/pz-n "About approval of the Regulations on decrease (restriction) in the risks connected with trust management of assets of investment funds, investment of funds of pension reserves, investment of means of pension accruals and accumulatings for housing providing the military personnel and also about approval of changes in some regulatory legal acts of the Federal Service for Financial Markets" (it is registered in the Ministry of Justice of the Russian Federation 20.01. 2010, registration No. 16030);

The order of the Federal Service for Financial Markets of 26.08.2010 No. 10-59/pz-n "About modification of the Regulations on organization activity of trade in the security market approved by the Order of the Federal Service for Financial Markets of October 9, 2007 No. 07-102/pz-n" (it is registered in the Ministry of Justice of the Russian Federation 09.09. 2010, registration No. 18403).

Approved by the Order of the Federal Service for Financial Markets of the Russian Federation of Russia of December 28, 2010 No. 10-78/pz-n

Regulations on activities for the organization of trade in the security market

I. General provisions

1.1. This Provision determines requirements to activities for the organization of trade in the security market in the Russian Federation (further - activities for the organization of trade).

This Provision extends to all professional participants of the security market performing activities for the organization of trade in the Russian Federation including to stock exchanges (further - organizers of trade).

To organizers of trade, being stock exchanges, requirements to activities of organizers of trade are applied if other is not provided by this Provision, and also the additional requirements provided by this Provision.

1.2. Only legal entities having the license of the professional participant of the security market for implementation of activities for the organization of trade and (or) license for activities of stock exchange can perform activities for the organization of trade.

1.3. Inclusion of securities in quoted lists, and also admission to trading of exchange bonds and securities of foreign issuers can perform only stock exchanges.

The Federal Service for Financial Markets (further - the Federal Service) has the right to suspend for a period of up to one year implementation of the admission of exchange bonds by stock exchange to the biddings in case of detection of incompleteness of information containing in documents based on which exchange bonds were admitted by stock exchange to trading.

1.4. Conditions of rendering services by the organizer of trade shall establish and provide the equal rights and obligations to bidders of the same category.

1.5. The stock exchange which is joint-stock company shall have the board of directors.

At least one thirds of board members of stock exchange shall meet the following requirements:

not be at the time of election and during 1 year preceding election, officials or employees of stock exchange;

not be officials of other society in which any of officials of stock exchange is member of the committee of the board of directors on personnel and remunerations;

not be spouses, parents, children, brothers and sisters of officials of stock exchange;

not be affiliates of stock exchange, except for the board member of stock exchange;

not be the parties according to obligations with stock exchange in accordance with the terms of which they can acquire property (to receive money), which cost constitutes 10 and more percent of gross annual income of specified persons, except receipt of remuneration for participation in activities of the board of directors of stock exchange;

not be representatives of the state.

1.6. The stock exchange shall have collegiate executive body of management.

1.7. The stock exchange shall have special committee of the board of directors (other authorized body if the stock exchange is non-profit partnership) on audit to which functions assessment of candidates for auditors and provision of results of such assessment to the board of directors (other authorized body) of stock exchange, consideration of the audit certificate of stock exchange before its representation of management of stock exchange to the supreme body, and also efficiency evaluation of the procedures of internal control operating on the stock exchange and preparation of offers on their enhancement belong.

1.8. Person performing functions of sole executive body, the head of control division (controller) of stock exchange, and other employees of stock exchange cannot be workers and (or) members of the professional participants of the security market who are bidders on this and (or) other stock exchanges.

1.9. The stock exchange shall have exchange council. In the presence on the stock exchange of several sections (trading floors, divisions, departments, etc.) instead of exchange council (council of section) the exchange has the right to create council for each section.

Exchange council (council of section) performs preliminary discussion of the draft documents provided in Item 2.1 of this provision and makes recommendations about the matters to the board of directors of stock exchange (or to other authorized body if the stock exchange is non-profit partnership).

1.10. The board of directors of stock exchange (or other authorized body if the stock exchange is non-profit partnership) shall approve regulations on exchange council (council of section). The specified provision shall contain requirements to members of exchange council (council of section), to determine its quantitative structure and procedure for adoption of decisions by it.

1.11. Exchange council (council of section) is created by the board of directors of stock exchange (or other authorized body if the stock exchange is non-profit partnership) in the procedure established by it from among the candidates offered by bidders and stock exchange for the term established by the board of directors of stock exchange (or other authorized body if the stock exchange is non-profit partnership) which cannot be more than two years. Representatives of bidders of stock exchange (trade (exchange) section) shall constitute at least 75 percent of structure of exchange council (council of section).

Persons who concluded with stock exchange labor and (or) civil service provision agreements to stock exchange cannot be part of exchange council (council of section). Exchange council (council of section) cannot include more than one representative of one legal entity.

1.12. The representative appointed by the order of the Federal Service has the right to be present at meetings of exchange council (council of section).

1.13. On the stock exchange the department of listing as separate structural division of stock exchange shall be created.

The department of listing exercises control of compliance of securities and their issuers (managing companies of mutual investment funds) to the requirements established by this Provision and stock exchange in case of inclusion of securities in quoted lists and during all term of finding of these securities in them, and also draws the conclusions about inclusion (about refusal in inclusion) securities in the quoted list, about their exception of the quoted list, about suspension of the biddings on securities in case of discrepancy of securities or their issuer (managing company of mutual investment fund) to the above-stated requirements.

1.14. The organizer of trade has the right to calculate indexes according to the techniques established by him. At the same time the method of calculation of index shall contain:

index procedure of payments;

value of index for date of the first made calculation of index;

criteria to which there shall correspond securities (industry accessory of the issuer, liquidity, etc.) for their inclusion in the list of securities on which the index is calculated (further - the index list);

procedure for determination of the price of each security included in the index list;

procedure for determination of quantity of the securities considered when calculating index for each security from the index list;

procedure of payments of the cost portion of securities determined by each security from the index list in the total cost of securities on which the index is calculated;

the list of the circumstances considered in case of change of the indicators used in calculation of index and performed based on value (expert) judgment;

frequency of modification of the indicators used in calculation of index based on value (expert) judgment, and also date of introduction of the specified changes (daleedat of correction of index);

sources of information based on which the index is calculated;

terms of calculation of index and its disclosure.

1.14.1. The stock index used for the purpose of suspension of the biddings shall conform to the following requirements:

calculation of index is perfromed on securities, the amount of transactions with which conforms to requirements for their inclusion in the quoted list "B";

calculation of index is perfromed on securities at least 10 issuers, on condition of inclusion of the specified securities in the index list;

the list of securities for calculation of index includes only shares or only shares and the Russian depositary receipts on the share or only the bond;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info