Listing
List of securities admitted to trading
In accordance with the Russian securities market regulation "listing" means admission of securities to one of the Stock Exchange’s Quotation lists that make up the Stock Exchange’s List of securities admitted to trading (the List). However, securities may be admitted to the List and traded on the Stock Exchange without undergoing the listing procedure – this List segment is called "non-listed" securities.
The List consists of several segments:
- Quotation list A1
- Quotation list A2
- Quotation list B
- Quotation list V
- Quotation list I
- "Non-listed" securities
Admission of securities to one of the Quotation lists means that the securities are listed. Securities admitted to the Non-listed securities List segment are not considered to be listed.
Non-listed and listed securities differ in regard to the requirements that the issuer of the securities must meet. Generally, a listed company is characterized by a better liquidity, a higher market capitalization, a certain authorized capital structure and compliance with a number of compulsory corporate governance provisions and other requirements set by the RTS Listing Rules.
Note Since RTS Board is the OTC market for professional investors, securities quoted in the RTS Board are not considered to be listed on the RTS Stock Exchange.
Securities market regulation
Federal laws
- On the securities market
- On joint stock companies
- On mutual funds
The Federal Financial Markets Service (FFMS) rules and standards
- Rules of organization of trading on the securities market
- Information disclosure standards
- Standards of issuing securities and registration of the securities prospectus
RTS Listing Rules
The RTS Rules of Securities Admission to Trading
Listing fees
(ex-VAT)
Listing fees depend on the List segment the issuer would like its securities to be admitted to and are levied as payments for expertise and admission:
Listing
1. Admission (roubles):
| ¹ |
Securities |
Payment period |
A1 |
A2 |
B |
V |
I |
| 1 |
Shares |
On admission |
60 000 |
45 000 |
18 000 |
18 000 |
18 000 |
| 2 |
Bonds |
60 000 |
45 000 |
18 000 |
18 000 |
- |
| 3 |
Fund units |
60 000 |
45 000 |
18 000 |
- |
- |
| 4 |
Mortgage-participation certificates |
60 000 |
45 000 |
18 000 |
- |
- |
| 5 |
Russian depositary receipts |
40 000 |
30 000 |
10 000 |
10 000 |
- |
2. Expertise (roubles):
| ¹ |
Securities |
Payment period |
A1 |
A2 |
B |
V |
I |
| 1 |
Shares |
On admission |
75 000 |
75 000 |
75 000 |
75 000 |
75 000 |
| 2 |
Bonds |
75 000 |
75 000 |
75 000 |
75 000 |
- |
| 3 |
Fund units |
75 000 |
75 000 |
75 000 |
- |
- |
| 4 |
Mortgage-participation certificates |
75 000 |
75 000 |
75 000 |
- |
- |
| 5 |
Russian depositary receipts |
75 000 |
75 000 |
75 000 |
75 000 |
- |
3. Maintenance (roubles, per year):
| ¹ |
Securities |
Payment period |
A1 |
A2 |
B |
V |
I |
| 1 |
Shares |
monthly |
12 000 |
9 000 |
6 000 |
6 000 |
6 000 |
| 2 |
Bonds |
12 000 |
9 000 |
6 000 |
6 000 |
- |
| 3 |
Fund units |
12 000 |
9 000 |
6 000 |
- |
- |
| 4 |
Mortgage-participation certificates |
12 000 |
9 000 |
6 000 |
- |
- |
| 5 |
Russian depositary receipts |
12 000 |
9 000 |
6 000 |
6 000 |
- |
Non-listed securities
In case of admission to the "non-listed" securities segment fees include only admission fee (roubles):
| ¹ |
Fees |
Payment period |
Payment |
| 1 |
Shares |
On admission |
6 000 |
| 2 |
Bonds |
6 000 |
| 3 |
Fund units |
6 000 |
| 4 |
Mortgage-participation certificates |
6 000 |
| 5 |
Russian depositary receipts |
6 000 |
Securities placement
In case of securities placement apart from admission and expertise expenses (depending on the List segment) fees also include payment for securities admission to placement (roubles):
| ¹ |
Fees |
Payment period |
Payment |
| 1 |
Shares |
On admission to placement |
80 000 |
| 2 |
Bonds |
80 000 |
| 3 |
Fund units |
80 000 |
| 4 |
Russian depositary receipts |
80 000 |
