Within the framework of the RTS, there are currently several trading floors, both exchange and over-the-counter, as well as a derivatives market. Let's consider each of them in detail.

Stock market

Within the framework of the RTS stock market, there are 4 platforms: RTS Classic, RTS Standard, RTS Start and the T + 0 market.

Classic stock market

The RTS Classic Market is the oldest organized platform in Russia for trading in securities (it has been operating since the exchange was founded in 1995).

Shares of more than 500 largest Russian companies, as well as bonds and shares of a number of investment funds, turn around here. This gives investors the opportunity to use various investment strategies, which are mainly divided into active and passive.

Active investment strategies are typical for investors who seek to get the maximum return on their investments.

These are risky strategies based on constant monitoring of the market situation and making prompt decisions to buy or sell securities based on changes in the situation on the stock exchange.

An investor who uses this strategy constantly changes the set of assets that are in his portfolio, trying to guess the most profitable combination. For beginners, this strategy is not suitable, as it involves a lot of risk and requires the trader to have certain knowledge and experience in active trading.

For conservative and novice investors, a passive investment strategy is more suitable. In this case, the goal is to save capital and receive a certain guaranteed income with moderate risk.

This strategy involves the formation of a portfolio of securities from low-risk assets, while the composition of the portfolio, as a rule, does not change for a long time.

Of course, the profitability when using such a strategy is lower than with active management, but the risks are also minimal.

Let's note some features of the classical stock market:

• trading is carried out without a preliminary 100% deposit of funds for the transaction (that is, the investor is not required to transfer his funds for storage as a guarantee of the transaction);
• You can freely choose the date and method of payment;
• the possibility of making payments in foreign currency is allowed;
• · trading is carried out through the electronic trading terminal RTS Plaza.

The T+0 market was created in 2004 as a platform for trading in shares of both leading Russian enterprises and companies of the so-called "second tier" (this segment accounts for up to 50% of all securities sold).

Bonds and investment shares are also traded here. In total, there are more than 400 types of securities on the T+0 market.

This market is great for private investors who can trade using the services of exchange-accredited intermediary companies.

Trading is carried out through the online trading system in an anonymous mode based on the Order-Driven Market principle (continuous double auction of counter orders) with 100% pre-deposit (reservation) of assets using the "delivery against payment" technology. All settlements are made on the day of the conclusion of the transaction only in rubles.

Those. for example, an investor wants to buy shares of a certain company, submits an anonymous bid, indicating the number of shares and the price. At the same time, the funds for the transaction are "frozen" in the buyer's account until it is completed.

When a counter order appears with the same conditions, the transaction is carried out automatically. Such a mechanism is very convenient for investors, as it is quite simple and does not require any complex actions.

RTS Standard stock market

RTS Standard is the most up-to-date and young stock market in Russia (operating since 2009). It uses advanced world-class exchange technologies.

This market is focused on both large professional players, institutional investors and banks, as well as private investors. This site is great for making speculative transactions with securities.

Features of the RTS Standard Market:

• use of the most modern technologies in the field of securities trading;
• · partial preliminary deposit of funds on accounts;
• · settlements only in rubles;
• · carrying out operations in the form of an anonymous auction, by analogy with the T + 0 market;
• · it is possible to combine stock trading on the Standard market with futures trading on the RTS FORTS futures market.

Market RTS START

RTS START is part of the exchange securities market of the RTS Group. In this market segment, securities of small and medium-sized companies are traded.

Securities traded in the RTS START segment are also admitted to trading on the RTS stock exchange. This is a new direction in the development of the modern stock market in Russia.

This market is designed to stimulate the attraction of investments in the real sector of the economy, as well as to allow small but actively developing enterprises to increase the amount of capital attracted.

Futures Market FORTS

The FORTS market is the largest Russian platform for trading derivative securities (futures and options).

First, let's take a closer look at what a future and an option are and how they differ.

Futures - a futures contract that secures the obligation to buy or sell some asset or commodity in the future at a specified time at a predetermined price.

An option is a fixed-term contract that secures the right to buy or sell an asset (commodity) for a certain period of time at a predetermined price.

In principle, these papers are similar, but there is one significant difference. The holder of the option is not obligated to transact after the expiration of the option. Whereas the holder of the futures will be obliged to make this transaction in any case. To make it clearer, consider a simple example.

Imagine that you bought two securities a year ago:

• 1. an option that allows you to buy 1000 shares of Alfa at 50 rubles per share;
• 2. futures, which obliges you to sell 1,000 shares of the company "Beta" at 20 rubles apiece.

Both papers are expiring. At the same time, you know that the shares of both companies have grown in price and are worth 100 and 60 rubles apiece, respectively.

Obviously, the option is beneficial for you, since you can buy 1000 shares at a price 2 times lower than the market price and make a good profit.

This means that you present it to the seller and receive 1,000 shares for only 50,000 rubles, selling which at the market price, you will make a profit of 50,000 rubles.

Futures, on the contrary, are not profitable, since you will have to sell 1000 shares at a price 3 times lower than the market price. That is, for the transaction you will receive only 20,000 rubles, although you could receive 60,000 rubles.

If it were the other way around, and you had a future to buy 1,000 shares of Alpha and an option to sell 1,000 shares of Beta, ceteris paribus, you would win.

Since the option does not oblige you to sell the asset, but only gives you the right to do so. If the deal becomes unprofitable for the option holder, he may not present it. In fact, the paper depreciates.

As for FORTS, this derivatives market has a developed infrastructure, reliability guaranteed by the RTS FB, as well as modern technologies in the field of derivatives trading.

The set of assets traded on FORTS includes a variety of derivatives: futures and options on stocks, on the RTS Index, on the dollar/ruble exchange rate, on interest rates, on oil and on gold.

Features of the FORTS market

• Relatively low costs for the implementation of transactions for the purchase / sale of assets;
• · absence of additional indirect costs (fees for servicing settlements and depository fees);
• Great opportunities for using various trading strategies;
• Possibility of insurance against fluctuations in prices for certain assets (stocks, the dollar exchange rate);
• partial deposit of funds (initial margin);
• · implementation of operations with guaranteed income (for example, we sell futures - we buy shares).

Among the main market opportunities that are available to all investors, it should be noted the conduct of speculative transactions with urgent securities, as well as hedging (insurance) of the risks of existing investment portfolios.

Let's take a closer look at how these strategies are implemented for stock futures.

Speculation

Stock futures are a great tool for making a profit: you can play on the increase or decrease in stock prices in order to make a profit.

For example, you are counting on the fact that in the future the shares of a certain company will grow in price - then you need to buy a futures contract for the shares of this company. If, on the contrary, you expect that the shares will fall in price, then you enter into a contract to sell the futures.

The advantage of making transactions on the derivatives market is also that when concluding a transaction under a futures contract, the investor contributes only a small share of the asset value (guarantee security, which is about 10-20%).

Consequently, the investor saves on transaction costs.

For example, you want to buy a futures contract for Alfa shares, the total value of the contract is 100,000 rubles.

However, you will not have to pay the entire amount of the transaction, but only the amount of the collateral, which is 15,000 rubles (this is what the broker will write off from your account). That is, having spent only 15,000 rubles, you actually bought a contract for 100,000 rubles.

Hedging

In this case, the investor's actions are aimed at reducing the possible risks associated with a fall in the price of his shares. To minimize possible losses in the stock market, the investor enters into a futures contract to sell.

As a result, possible losses in the stock market are compensated by the profit received in the FORTS market.

For example, you have shares of the same Alfa company, which are now worth 100 rubles apiece. You are afraid that in a month these shares will fall in price, in order to insure against possible losses, you enter into a futures contract to sell securities at the current price.

Then, if in a month the price of the shares really falls, you will compensate for the losses by selling the shares at the price of 100 rubles, which was indicated at the conclusion of the futures contract.

However, there is one thing, but if the price rises, then on the contrary, you will lose the opportunity to make a profit. That is, hedging is a kind of insurance, a tool that is aimed only at preventing possible losses, but not at making a profit.

OTC activity of RTS

The off-exchange activity of RTS includes the organization of the work of two indicative securities quotation systems: RTS-Board and RTS Global.

RTS Board is a special information system that began its work in 2001 and is intended for indicative quotation of securities that were not admitted to trading on the RTS Stock Exchange.

Unlike the exchange market, here we are dealing with quotes that are not based on actually completed transactions. Indicative quotes show that the given security could be sold at a certain price stated by the issuer.

The actual price of the security at the time of the transaction, if any, will depend on a number of additional factors (volume of the transaction, day of settlement, status of the buyer, etc.).

That is, the RTS Board is not a trading, but an information system that allows potential investors to get acquainted with information about securities that are not admitted to public trading on the stock exchange.

For small domestic issuing companies, the RTS Board is a tool for initially increasing the liquidity (speed of sale) of the securities they issue, as well as an opportunity to draw the attention of potential investors to new and promising securities.

RTS Global is an RTS project that started its work in 2008. The system allows investors from Russia to gain access to securities of foreign companies.

RTS Global is based on the technologies and principles of operation of the RTS Board system, only here investors have access to information about indicative quotes of not domestic, but foreign securities.

In addition, with the help of the RTS Center for Electronic Agreements (CED) and Depository Clearing Company CJSC, Russian investors can, through the RTS Global system, enter into over-the-counter transactions with shares of a number of foreign companies, mainly companies from the CIS and Europe.

Thus, CJSC DCC has access to a number of foreign depositories, including:

• Clearstream Banking S.A. Luxembourg;
• · Euroclear Bank S.A./N.V.;
• · National Depository of Ukraine;
• · "Republican Central Securities Depository" of Belarus;
• · Central Depository of Kazakhstan.

The appearance in Russia of the over-the-counter market for foreign securities has significantly expanded the boundaries and possibilities of the domestic stock market.

RTS index

Since the RTS is a stock exchange, it is also necessary to tell about the RTS stock index, which has been calculated on the stock exchange since the beginning of the first trading in September 1995.

The RTS Index is the main indicator of the general state of the Russian stock market, reflecting its growth or decline.

The principle of the index is the same as that of the MICEX Index - it reflects the total change in the value of a certain set of securities based on the results of trading.

But unlike the MICEX Index, which takes into account changes in the share price of 30 companies, the RTS Index is calculated based on the dynamics of the securities of the 50 largest Russian enterprises, including:

• · Aeroflot;
• · Bashneft;
• · Severstal;
• · Gazprom;
• · MMC Norilsk Nickel;
• · INTER RAO UES;
• · LUKOIL;
• · Sberbank of Russia;
• · Surgutneftegaz;
• · and others.

It should also be noted that the RTS Index shows the total market capitalization (value) of the shares of the companies included in the list, expressed in relative units (points). At the same time, unlike the MICEX Index, the value of shares in US dollars is taken for calculation.

Capitalization in this case is defined as the number of outstanding shares multiplied by their actual market value. It reflects the total value of the enterprise at a certain point in time.

Accordingly, if the value of shares of enterprises included in the list for calculation increases, the value of the RTS index increases, if the value falls, the index falls. The index itself is easy to calculate.

Suppose the initial capitalization of companies was $100,000, the initial value of the index is 100 points. The capitalization of the companies at the present time is $500,000. Therefore, the index will be equal to 500,000/100,000 * 100 points * 1.0752559 = 537 points (1.0752559 is the established adjustment factor).

It is by this scheme that the value of the RTS index is determined, the dynamics of which reflects the state of the domestic stock market.

What do you need to become a bidder on the RTS?

Only legal entities that have licenses to carry out transactions with securities can take part in trading on the RTS markets.

If you want to participate in trading on the exchange as a private investor, then to carry out operations on the RTS exchange, contact accredited professional intermediaries (brokers, dealers, management companies) who have the appropriate licenses and experience in performing such operations.

This article will focus only on the RTS markets, where shares of companies - issuers of the 1st, 2nd, 3rd echelons, currencies, commodities and all derivative financial instruments (options and futures) are traded. There are seven trading platforms on the RTS Exchange:

TRADING SITES ON THE RTS EXCHANGE

RTS Classica- is the first Russian securities market, which began to function in 1995. On RTS Classica, there is no possibility of preliminary deposit of securities, and participants in transactions can choose, at their discretion, both currencies and the date of a trading transaction. Although the absence of a deposit contains certain risks, at the same time such a situation greatly facilitates the possibility of trading. RTS Classica currently features 478 financial instruments: bonds, stocks, investment units.

The main reason for the formation of the exchange market was the desire to increase the liquidity of the market, the introduction of ruble transactions with various financial instruments and the development of a liquid market for shares with low liquidity (shares of the "second tier").

With the development of the RTS exchanges in 2004, to reduce risks, trading began on the RTS exchange market. Here, financial instruments are traded in anonymous mode using a “continuous double auction of counter orders” using the “delivery versus payment” technology with settlements in rubles and partial preliminary deposit of assets. In 2008, netting was launched without a preliminary 100% deposit of assets during the trading process, which allowed market participants to reduce their costs.

OTC MARKET - RTS BOARD

The information system of the RTS Board exchange appeared in 2001. It listed shares of domestic and foreign issuing companies whose securities were not admitted to trading on the RTS stock exchange. Thus, any of the exchange market participants (investor, broker, trader) could obtain the necessary information about new shares and use this information in their analysis. The issuers, in turn, increased the popularity of their shares and had the opportunity to enter the RTS stock exchange in the future. At this time, the listing of the RTS Board included about 2,000 shares of more than 1,000 issuers.

FORTS MARKET (Derivatives market - futures and options)

The derivatives market RTS FORTS was launched for the first time in 2001, and the evening trading session on the futures and options market was introduced in 2008. The main trading session of the RTS FORTS is at 18:45 Moscow time. ends, after which the clearing session is carried out, and then, from 19.00 to 23.50 Moscow time, the evening trading session continues. Settlements for all trades concluded at this time are carried out at 14:00 the next day. The RTS derivatives market in Russia is the main trading platform for derivatives – options and futures. Despite its short history, according to the Futures Industry Association (FIA) in 2009, the RTS FORTS derivatives market ranked ninth in the world in terms of trading volume among all similar exchanges.

Today, derivatives for the following underlying assets are traded on the FORTS market:

Securities (bonds and shares) of Russian issuing companies, as well as federal loan bonds

RTS Index and Sectoral (Sectoral) Indices

Foreign currency

Commodities: gold, silver, Brent and Urals oil, diesel fuel, sugar, platinum, palladium

RTS MONEY

This is a currency trading platform. It was launched for the first time in 2003. Trading transactions on this exchange platform are carried out with different currencies through RTS Money or REUTERS DEALING trading terminals. This trading platform is relatively underdeveloped, since it is extremely difficult to compete on equal terms with the Russian currency exchange MICEX. Only two currencies are traded on this stock exchange: USD/RUB and EUR/USD.

RTS START

Marketplace RTS START was first launched in January 2007. It is intended for trading securities of medium and small capitalization companies, which allows such companies to raise capital for their development and have an alternative to expensive bank loans. At the RTS START site, the requirements are much higher than the requirements at the main RTS site. This is done in order to protect the interests of investors and their legal rights. One of the examples of a successful IPO in RTS START is the initial public offering of shares of Armada OJSC in July 2007 - in six months the capitalization of this company increased by almost 134%.

RTS Global

This is an exchange platform that provides access to foreign securities to all Russian investors, and also allows investors and traders to enter into off-exchange transactions. At the same time, prices are quoted through the RTS Board system. 1,760 shares from 1,284 issuers, including foreign issuers, are traded on this stock exchange.

RTS STANDARD

For the first time, trading on the ruble stock market of the RTS exchange began in 2009. RTS Standard is a market that uses the most modern exchange trading technologies, which allows for exchange trading at the world level. Professional traders of the stock market, as well as hedge funds, institutional and private investors trade on this platform.

This market platform has a mechanism for conducting trading transactions within four days (T + 4) and not having 100% of assets during the execution of a trading transaction is not required, that is, trading is carried out using margin coverage, which is used on the FORTS market. This means that if the package of securities costs one hundred thousand rubles, you may need only twenty-20,000 rubles at the time of the acquisition of shares, and the remaining amount is needed only on the fourth day.

Characteristics of the exchange market Standard RTS:

Settlements for trading operations within 4 days.

Quotation of shares and settlements on trading operations are carried out in Russian rubles.

Ability to trade both securities and their derivatives (options and futures).

The RTS Exchange (Central Counterparty) reduces the risk of unfair trading.

On the RTS Global market as of July 12, 2010, securities of twenty-two largest Russian companies are traded.

IPO on RTS

JSC "RTS Stock Exchange" in 2007 ranked first in Russia and sixth in the world in terms of the volume of IPOs (initial public offerings). Sixteen issuers have chosen RTS for the initial public offering of their shares, which managed to raise almost 16 billion US dollars as a result

In conclusion, it should be noted that in 2008 the RTS began to develop in the direction of expansion, and went to Ukraine, where the "Ukrainian Stock Exchange" was created, on which the securities of Ukrainian issuing companies are traded.

And in 2009, JSC ETS (“Commodity Exchange “Eurasian Trading System”) was organized in Kazakhstan, where it trades: agricultural products - wheat, barley, rye, sunflower seeds. For clarity, I am posting from the official website a description of all RTS markets.

The Russian Trading System (RTS) arose a long time ago, but it was in its current form that the classical one arose in 1995, as an analogue of the world stock exchange markets for securities.

The RTS is a market for all types of securities that operate in the Russian Federation. It serves as the basis for determining the stock price, the price of futures, etc. At the same time, the market serves as a guide both for the exchange market and for operations outside it.

RTS functions

The main functions of the market are:

• determination of the value of securities. The RTS market is the oldest analogue of such an exchange in Russia;
• transactions. Within the framework of the RTS, most transactions on the purchase and sale of securities are carried out.

These are the two main functions of the market that make it the leader in the Russian Federation.

RTS combines all the markets of the Russian Federation: oil, telecommunications, energy, consumer sector, banks, metallurgy and energy.

The market includes shares of more than five hundred largest Russian companies, as well as investment shares. Thanks to such a wide range of representative offices, the market serves as a reference point not only for the Russian Federation, but also for international investors.

RTS segments

The market is clearly divided into trading platforms, which makes it more convenient:

• RTS standard. It uses the most modern exchange technologies, and is intended for large investors and individuals. The calculation is carried out only in rubles. There is also an anonymous payment system. RTS-Plaza terminal systems are used. The market is considered the most innovative in the RTS system, and is characterized by active development.

• RTS start. In this segment, securities of small companies are traded. Serves to attract investment in . A feature of the market is the lack of prepayment for certain transactions. It is also possible to pay in foreign currency, although for other sites the payment is only in Russian rubles.

• Forward market FORTS. This is a section of the RTS that specializes in futures and options trading. That is, on this site you can agree on the price of assets in advance. In this case, the seller cannot change the price by , regardless of changes in the market.

• Classic RTS Market. The oldest platform for trading securities of large Russian companies. Only professional bidders can participate in this segment. It is the prices on this site that are used to determine the RTS index.

• T+0 market. A market that caters to individuals. You can take part in the auction personally or use the services of intermediaries. Allows you to work anonymously. It works on the principle of an auction, where you put up an offer, and when you buy shares at a certain price, and if you receive a positive response, you get your shares. The whole system uses the Internet sales scheme. That is, there is no need to be present in any places. This site is the most popular.

Investing in the RTS Index: Quote Dynamics

RTS Index - what is it and how to make money

RTS (Russian Trading System) was founded in the fall of 1995 as an alternative to the . In 2011, the MICEX and RTS exchanges merged into a single exchange platform, which became known as the Moscow Exchange. In this article, I will talk about what the RTS index is, how to analyze the dynamics of quotes, and whether it is worth investing in this instrument at all.

Considering the history and development of the index on the Russian exchange market, we will touch on the following issues:

Definition of the RTS index

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The RTS Index (RTSI code) is a kind of indicator of the situation on the stock market. Its value is determined taking into account all transactions made on the stock exchange and displays the overall level of market value, which is called capitalization. It should be noted that a similar indicator for a particular company is determined by multiplying the price of its one share by the number that is in circulation.

Issuers and composition of the RTS index

The exchange index of the Russian Trading System consists of a number of indicators, including: RTS-2, RTS Standart, RTS Siberia, as well as several sectoral indices. Calculations are made on the basis of data relating to stock quotes of the 50 largest companies in Russia. In this case, we are talking about Gazprom, Sberbank, Surgutneftegaz, Lukoil and other "giants".

In order for the shares of a particular company to be included in this list and, accordingly, in the composition of the RTS, two conditions must be met. First, the securities must be admitted to trading on this stock exchange (Moscow Exchange). Secondly, the market value of the company must be at least 0.5 percent of the total capitalization of all shares that are already included in the RTS index.

Changing RTS values

The RTS stock index appeared for the first time in September 1995, the index quotes were at the level of 100 points. Two years later, this figure was 570 points. Further dynamics of the RTS showed that over the course of 19 years the capitalization of the stock market of the Russian Federation increased by more than 12 times. On the one hand, these results look more than positive and optimistic. The RTS index reached its peak value in the spring of 2008. But the financial crisis caused a significant decrease in the market value of most of the largest companies, as a result of which the RTS value fell to below 600 points.

It should be noted that, despite the significant normalization of the economic situation in the country, the Russian stock market has not fully recovered. It is for this reason that the current capitalization of the largest companies in the country is almost half that which was recorded in 2008. Also, the fall of the index was affected by a significant increase in the exchange rate of the US dollar against the ruble.

The RTS index can be called a kind of indicator of the Russian stock market, as well as the general economic situation. Studies of changes in the RTS index allow you to get an idea of ​​the current state of the stock market and make a decision to sell or purchase shares.

RTS futures trading

At the moment, RTS futures is the most popular and most liquid derivative (contract) of the Moscow Exchange. With full confidence, it can be called the most popular financial instrument among the vast majority of traders and investors specializing in speculation on the Russian stock market.

Given the popularity of this asset, brokers in most cases provide the most favorable conditions for trading futures. In this case, we are talking about the minimum commission, as well as the smallest guaranteed security. The list of brokers providing access to the Moscow Exchange and futures trading on RTS can be found on the official website of the exchange moex.com.

Futures is a dispute between market participants, the topic of which is the movement of the value of shares of 50 largest Russian companies. At the moment, this is the most used futures by traders, featuring record liquidity. Its undeniable advantage is the increased leverage up to 1:10.

In order to start trading futures on the RTSI index, you will initially need to open an account on the exchange (see). Market participants analyze index quotes before making decisions and opening or closing positions. Profits and losses depend on whether the market participant wins the dispute. The futures size is the index value multiplied by 100. The ruble value is determined based on the fact that one point corresponds to 0.02 US dollars, that is:

Price (RUB) = RTS value in pips X 0.02 X dollar exchange rate

It is worth emphasizing that trading this financial instrument is more than risky, especially for novice traders. All transactions are concluded on the so-called futures market. In other words, the key to successful trading will be the presence of sufficient practical experience gained in the long-term stock market.

Calculation of the RTSI index

As I already said, the initial value of the index was conditionally equated to 100 points. Let's assume that on the indicated date the total market value of all issuers was equal to 500 thousand US dollars, and on the day of settlement this figure increased to 850 thousand. As a result, the value of the RTS index will be: 850,000 / 500,000 x 1.0752559 x 100 = 183 points. In this formula, 1.0752559 is the value to be corrected for.

The index value is determined on the basis of data on the value of the shares included in it. This operation is repeated after 15 seconds, which provides information online. At the same time, the most informative for all market participants are the RTS values ​​at the time of trading operations.

Below are the main indicators of the largest companies of the Moscow Exchange, according to which the index is calculated (moex.com/s772).

Every three months, the coefficients are recalculated, and a decision is made regarding the list of issuers. To minimize the risk of erroneous calculations, a control procedure is applied, which provides for the revision of the results obtained. This happens if a technical failure has been recorded, as well as in other non-standard situations that can have a significant impact on the calculations. In the first case, the exchange specialists re-determine the index value as soon as possible. In those situations when recalculation is made, all information is published on the official website of the Moscow Exchange.

The RTS index includes the largest companies in the main domestic industries: banking and finance, oil and gas, electric power, chemicals, telecommunications, consumer goods and trade, air transport and information technology. Due to this composition of issuers, the index fully reflects the situation in the Russian economy and deserves the attention of investors, not only as an independent investment instrument, but also as a market indicator.

In conclusion, I propose to watch yesterday's RBC TV program about the prospects for the RTSI index in 2016.

All profit!

RTS concentrates the funds of organizations and individuals, contributing to their efficient distribution among various sectors of the domestic economy.

PTC is the largest and most actively used electronic stock exchange in Russia, accounting for about half of the total trading volume on the Russian stock market.

The RTS stock exchange has the organizational form of OJSC, and its shares are freely traded on the market.

A trading participant on the markets of the RTS Group may be a legal entity that has the appropriate licenses.

The following licenses are required to carry out transactions with securities and provide services of an intermediary in the securities market:

• · License of the Federal Financial Markets Service (Federal Financial Markets Service) of a professional participant in the securities market to carry out brokerage activities and / or,
• · License of the Federal Financial Markets Service of a professional participant in the securities market to carry out dealer activities and / or,
• · License of the Federal Service for Financial Markets of the Russian Federation as a professional participant in the securities market to carry out securities management activities.

To perform transactions with derivative financial instruments, an additional exchange intermediary license is required for making futures and options transactions in exchange trading, issued by the Commodity Exchange Commission under the FFMS of Russia.

To carry out transactions with foreign currency and provide services of an intermediary in the foreign exchange market, a license is required for banking operations with funds in rubles and foreign currency.

In 1995, the RTS Group began trading in securities on the classic RTS market. The basic principles of trading on the classical market are the ability to conclude transactions by choosing a currency, method and time of settlement. Trades are based on non-anonymous quotes without preliminary depositing of securities and funds, which allows organizing trades on the widest possible range of securities.

Since 1995, the RTS Index has been calculated on the basis of prices formed on the classical stock market, which has become (along with the MICEX Index) one of the main indicators of the Russian stock market. The RTS Index is calculated based on quotations of 50 securities of the most capitalized Russian companies.

The RTS Group includes the following markets:

• RTS Standard
• RTS Classica
• Futures and options market FORTS
• RTS Board
• RTS START
• RTS Global

RTS Standard is the most advanced stock market in Russia [source not specified 484 days], which embodies all modern world-class exchange technologies. It is aimed at the widest range of participants: professional stock market participants, institutional investors, hedge funds and private investors.

The trading mechanism in RTS Standard does not imply the presence of 100% of the assets at the time of the transaction.

For example, buying 10 securities at a price of 1,500 rubles will require an investor to conclude a transaction not 15,000 rubles, but 2,500-3,000 rubles.

Fulfillment of obligations occurs on the 4th day. At the same time, the execution of all transactions is guaranteed by the exchange as the Central Counterparty, which significantly reduces the risk of non-execution. Traded instruments - 22 most liquid stocks of Russian companies. The mechanism for trading shares and derivatives (futures and options) in a single system has been implemented on the RTS Standard market

RTS Classica is the oldest organized securities market in Russia. Started work on July 5, 1995. Back then, bidders who had RTS terminals could quote Russian stocks and agree on the conclusion and execution of a deal over the phone.

The FORTS derivatives market is the leading futures and options trading platform in Russia and Eastern Europe, as well as one of the largest derivatives trading markets in the world. According to the data of one of the largest independent derivatives associations Futures Industry Association for the first 2 months of 2009, the FORTS futures and options market is in 9th place in terms of trading volume among all derivatives exchanges in the world.

RTS Board is an information system of JSC "RTS Stock Exchange" designed for indicative quoting of securities not admitted to trading on the RTS. The system was put into operation on February 15, 2001.

From the point of view of issuers, the RTS Board system is a simple and effective tool for initially increasing the liquidity of securities, the task of which is to draw the attention of investors to promising securities.

At the moment, RTS Board is the leader in Russia in terms of the number of securities listed in it.

RTS Start is a segment of the main trades of the RTS stock exchange securities market, in which, in addition to the basic conditions, securities and their issuers are subject to a number of requirements aimed at protecting the rights and legitimate interests of investors. The issuer's securities included in the RTS Start segment are simultaneously admitted to trading on the RTS.

The project is designed to promote the admission of securities of issuers of small and medium capitalization to trading in the process of placement and/or circulation.

RTS Global is a new project that has no analogues in Russia. RTS Global allows Russian investors to get easy and efficient access to foreign securities.

The formation of the over-the-counter Russian market for foreign securities is intended to significantly expand the opportunities for participants in the Russian stock market by qualitatively supplementing the investment portfolio with new financial instruments and open up new promising financial markets for foreign issuers.

Electronic exchange trading is carried out on the basis of the RTS PLAZA Workstation, which is a complex of current guaranteed software and databases that has no analogues in Russia, installed on the Exchange member's personal computer.

The exchange provides the technology for setting quotes, acquiring up-to-date information about the state of the market and concluding transactions for the purchase and sale of securities of Russian issuers in real time with settlements both in Russian rubles and in foreign currency. More than 350 types of shares and bonds are admitted to circulation on the RTS.

The RTS exchange platform offers its participants a wide range of methods for executing transactions, including those based on the unique "delivery versus payment" technology, the broad possibilities of the Internet and new means of electronic document management.

The RTS Technical Center (TC RTS) was established with the aim of guaranteeing the most reliable operation of the Russian Trading System. Although the general task of the RTS TC is the maintenance of the exchange and its members, the software products developed by the Technical Center are quite versatile and can be successfully used not just in the stock market. Exchange trading systems developed by the RTS Technical Center are already operating in the CIS countries and Eastern Europe. The Technical Center is the developer of all software, on the basis of which electrical trading in securities takes place on the RTS Stock Exchange and automated settlements for transactions concluded in the RTS, including, in the RTS Plaza workstation, the principles of electrical document management, the I of the center of electrical contracts, the clearing center used for the purpose of settling transactions concluded on the terms of "delivery against payment". The software created by the RTS shopping center is a system that has no analogues in Russia and is successfully used by the RTS Stock Exchange to organize securities trading. Distinctive features of the system are high reliability and speed, real-time trading and settlements, functional separation of trading and clearing, the method of using inexpensive communication channels without loss of quality and performance principles. A high degree of integration of all software products makes it possible to provide convenient access to the entire RTS trading and settlement complex.

When developing trading and settlement systems, TC RTS is guided by the principle of end-to-end transaction processing (STP) to ensure the best level of automation of all processes in the stock market. All new software products developed to expand the capabilities of market participants retain its main basic principles of interface construction, which are inherent in the current RTS systems. Moreover, when designing a software interface, consultations of psychologists and the fruits of research on the features of traders' activities are actively used. Before commissioning, all principles undergo thorough and comprehensive testing in a specialized division of the RTS shopping center.

The main goal of the RTS Group is the formation and development of an economically efficient self-regulating infrastructure for pricing securities and financial instruments. Forming a developed financial market in our country, the RTS helps Russia to take a leading position in the global economy and become an integral part of the global financial system.