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Minsk, Belarus

BELARUSIAN CURRENCY AND STOCK EXCHANGE. Minsk, Belarus. FOUNDATION STAGES. AIMS. TO BECOME THE DOMINANT POWER IN THE BELARUSIAN FINANCIAL MARKET INFRASTRUCTURE AND TO ENABLE IT TO PROVIDE THE FOLLOWING:.

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Minsk, Belarus

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  1. BELARUSIAN CURRENCY AND STOCK EXCHANGE Minsk, Belarus

  2. FOUNDATION STAGES

  3. AIMS TO BECOME THE DOMINANT POWER IN THE BELARUSIAN FINANCIAL MARKET INFRASTRUCTURE AND TO ENABLE IT TO PROVIDE THE FOLLOWING: minimization of risks and transaction charges from capital formation in the organized market; transparency of transactions; protection of investors’ legal rights and their interests; implementation of programs on financial resources formation necessary for their development; state monetary and credit policy market mechanisms development; necessary conditions for effective controlling functioning of the State

  4. TASKS to raise competitive capacity, quality and quantity of services rendered by the BCSE; to increase the efficiency of exchange currency, stock and futures market functioning; to contribute to the effective settlement and clearing system formation, that service main segments of the organized financial market; to provide Belarusian financial market with information transparency; to assist in realization of state investment programs and other projects aimed at financial markets developing; to promote integration processes between Russian and Belarusian financial systems; to create program and technical infrastructure for electronic documents circulation in the organized market; to develop own program and technical base, to implement modern computer technologies into the exchange.

  5. SERVICES ON FINANCIAL MARKET • Functions of the BCSE • Organization of the exchange trading in foreign currencies, futures and securities • Clearing Center in Belarusian settlement clearing system • Registration of OTC transactions with corporate securities of all types • Financial operations control • Information service • On-line information products providing current information about trading sessions on different exchange market sectors • Periodical information products on the base of primary stock exchange information data on separate financial market sectors • Information products based on Internet technology The total annual trade volume in 2009 amounted to $ 29.2 billion.

  6. BCSE TRADEPARTICIPANTS EXCHANGE TRADES ARE CARRIED OUT WITHIN CURRENCY, STOCK AND FUTURES MARKETS SECTORS. Main requirements to become a Sector Member of the BCSE: compliance with Belarusian legislation; an acting license on professional and exchange securities activity issued by the Securities Committee,an additional license for banks on conducting bank operations issued by the National Bank; Professional Securities Market Participants’ financial adequacy as defined by the legislation, banks shall meet economical requirements established by the National Bank; balance-sheet without loss disclosing information on financial and economic activity As of January 1, 2010 Sector Members included72companiesincluding 32banks and40broker and dealer companies

  7. CURRENCY MARKET EXCHANGE CURRENCY MARKET FUNCTIONS: • Formation of market rate of national money unit to foreign currencies; • Establishing the official rate of Belarusian rouble upon exchange trade totals; • Providing the obligatory foreign currency sale Only banks that are members of the currency market sector and empowered to trade on their own behalf and at their own expense, as well as on their own behalf by their client’s order, have the right to trade with foreign currencies on the BCSE • Trades with 15 currencies are carried out on the BCSE in the electronic trade system,but US Dollar, Russian rouble and Euro dominate in the total amount of operations on the exchange currency market. • Settlements are carried out: • via transit accounts in the National Bank (for USD/BYR, EUR/BYR, RUB/BYR, UAH/BYR) under obligatory deposition of Belarusian Roubles at the amount of net liability • directly between trade participants (for other financial instruments). The currency market turnover in 2009 amounted to $ 14.1 billion ($ 18.7 billion in 2008).

  8. FUTURES MARKET MEMBERS OF FUTURES MARKET SECTOR ARE EMPOWERED TO TRADE ON THIS SEGMENT • The following kinds of futures contracts are circulated at the BCSE: • futures on US dollar with 1, 2, 3 and 6 months redemption period • futures on US dollar with 1, 2, 3 and 6 months redemption period • futures on GLTB variablewarrant yield EXCHANGE TRADES WITH FUTURES INSTRUMENTS ARE DAILY CARRIED OUT IN THE ELECTRONIC TRADE SYSTEM SIMULTANEOUSLY WITH ALL INSTRUMENTS IN A “CONTINUOUS DOUBLE AUCTION” MODE. The futures market trade volume in 2009 amounted to $ 11.25 million, ($ 7.6 million in 2008).

  9. STOCK MARKET: securities admission to circulation at the BCSE GOVERNMENT SECURITIES OF THE NATIONAL BANK ARE ADMITTED TO TRADES AT THE BCSE UNDER OFFICIAL ISSUE CONDITIONS ONLY LISTED NON-GOVERNMENT SECURITIES ARE ADMITTED TO TRADES AT THE BCSE In 2009, the stock market turnover amounted to $ 15.06 billion ($ 9.1 billion in 2008)

  10. STOCK MARKET: Listing

  11. CLEARING AND SETTLEMENT SYSTEM PARTICIPANT 1, Seller Client of PARTICIPANT 1 BELARUSIAN CURRENCY AND STOCK EXCHANGE CLEARING AND SETTLEMENT SYSTEMOPERATOR UPON SECURITIES, FUTURES MARKET INSTRUMENTS AND FOREIGN CURRENCY Trade position «securities» of a Client SettlementBank National Bank Settlement Depository RUE «RCSD» Trade position«securities» of a participant Bank corr. accounts/ bank personal account DEPO corr. accounts LORO of authorized depositories Trade organizer BCSE Trade position «money» of a participant Banks 2-d level Depositories Trade position «money» of aClient Client of PARTICIPANT2 PARTICIPANT 2 Buyer

  12. INFORMATION PRODUCTS: BEQAS System BELARUSIAN QUOTATION AUTOMATED SYSTEM BEQAS(WWW.BCSE.BY/BEKAS),SERVICING THE OTC MARKETALLOWS TO PUT-UP INDICATIVE BIDS FOR COUNTER-PART SEARCH, AS WELL AS TO DISCLOSE INFORMATION ON CONCLUDED TRANSACTIONS MAIN CHARACTERISTICS: ANY LEGAL ENTITY OR AN INDIVIDUAL MAY BE USERS OF THE BEQAS SYSTEM. POSSIBILITY OF QUOTING ANY KIND OF SECURITIES QUOTATION SUPPORT BY THE STATE PROPERTY FUND FOR ANALYZING DEMAND FOR STATE-OWNED EQUITIES BEQAS SYSTEM IS THE ONLY SOURCE OF FULL INFORMATION ON THE STATE OF THE OTC MARKET OF EQUITIES OF BELARUSIAN ENTERPRISES

  13. BEQAS System: 2 PRODUCTS The BCSE functions as a central registrar of all securities transactions information in the OTC market. The BCSE offers professional participants two BEQAS program modules in the OTC market: 1. "INDICATIVE BIDS" aimed at facilitating the submission of indicative bids on a charge-free basis. 2. IQS "OTC MARKET" launched since February 1, 2010 to automate the submission of all OTC transaction information on a contract basis.

  14. INFORMATION PRODUCTS: official site of the BCSE WEB-SITE(WWW.BCSE.BY)IS A KEYELEMENT OF THE SYSTEM OF INFORMATION DISCLOSURE UPON THE BCSE ACTIVITY RESULTS IN THE CURRENCY, STOCK AND FUTURES MARKETS. • STRUCTURED BY MARKETS, IT INCLUDES INFORMATION ON: • Sector members, • Listed financial instruments, • Exchange trade totals (quotations, trading volumes, etc.), • BCSE legal documents regulating the operation order at the BCSE. • Press-releases, publications, etc. • on-line mode of trade view • Official information of the National Bank, Ministry of Finance, Securities Committee and others. UPON IAE CIS MEMBERS’ OPINION, THE CORPORATE SITE(WWW.BCSE.BY)AND SYSTEM SITE IS «STOCK MARKET OF BELARUS» (WWW.STOCK.BCSE.BY)BELONG TO THE MOST INFORMATIVERESOURCES FAVOURISING AN INTERNATIONAL COMMUNICATION.

  15. INFORMATION PRODUCTS: IS «Stock Market» Information System «Stock Market»WWW.STOCK.BCSE.BYbased on Internet-technology and providing the information in the following directions: • FULL LIST OF ISSUED SECURITIES IN BELARUS, THEIR PRIMARY DISTRIBUTION AND SECONDARY CIRCULATION; • ISSUERS AND PROFESSIONAL PARTICIPANTS OF THE SECURITIES MARKET, THEIR ACTIVITY RESULTS; • NEWS AND ANALYTICAL INFORMATION ON STATE OF STOCK AND FINANCIAL MARKET OF BELARUS; • EDUCATIONAL DATA FOUNDERS OF THE SYSTEM: BCSE NATIONAL BANK SECURITIES COMMITTEE REPUBLICAN CENTRAL SECURITIES DEPOSITORY INFORMATION PARTNERS: MINISTRY OF FINANCE MINISTRY OF JUSTICE MINISTRY OF ECONOMY «BELARUSIAN STOCK MARKET», PERIODICAL

  16. IT COMPLEX

  17. TRADE AND SETTLEMENT COMBINATION Trading mode Settlement code Market Sector Fixing Negotiateddeals S-T+0 Foreign Currency Continuous double auction Discreet auctions S-T+n Futures market instruments Forward transactions GS REPO(fixed pricing) REPO (free pricing) NS Securities REPO auction Simple auction S-REPO BEQAS Indicative bids

  18. MEMBERSHIP ASSOCIATION OF BELARUSIAN BANKS BELARUSIANASSOCIATIONOF PROFESSIONAL SECURITIES MARKET PARTICIPANTS INTERNATIONAL ASSOCIATION OF EXCHANGES OF THE COMMONWEALTH OF INDEPENDENT STATES FEDERATION OF EURO-ASIAN STOCK EXCHANGES (FEAS)

  19. CONTACTS Phone:(+375 17) 209-41-03 (reception) (+375 17) 206-34-69 (information service) Fax:(+375 17) 209-41-10 office@bcse.by www.bcse.by Address: 48а Surganova str., 220013 Minsk, Belarus

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