Time Specification

The information below is published for the Clearing Member`s convenience and has no legal force.

NCC`s clearing and other operations execution time is established by the Clearing rules and can be changed by the NCC`s decision.

In case of divergence between the information provided below and the provisions of the Clearing Rules (or the NCC`s decision for the certain operation time change), the Clearing Rules and (or) the NCC`s decision adopted within the Clearing Rules shall prevail.

The indicated time is the Moscow time.

 

 

1.  Margin requirements determination and execution time
 
  Time to determine Margin Requirements Time to execute Margin requirements
for Guarantee Funds* 10:00 Settlement day before 17:30 on the day the corresponding Margin requirement arises
for Stress Collateral* 10:00 Settlement day before 17:30 on the day the corresponding Margin requirement arises
for Collateral against concentration risks on the issuer* 10:00 Settlement day before 17:30 on the day the corresponding Margin requirement arises

* On the Standardised Derivatives Market, Stock Market, Derivatives Market, FX Market and Precious Metals Market  

2. Time of receival of Requests for collateral return from Clearing Members for the purpose of returning funds from Collateral / Guarantee Funds / Stress Collateral and Requests for Deposit:

Currency Request reception time
AMD from 8:00 to 12:30
BYN from 8:00 to 13:15
CNY from 8:00 to 14:45
EUR from 8:00 to 15:45
HKD from 8:00 to 11:00
KGS from 8:00 to 11:00
KZT from 8:00 to 13:15
RUB from 8:00 to 19:30
TJS from 8:00 to 11:00
TRY from 8:00 to 14:00
USD from 8:00 to 18:30
ZAR from 8:00 to 13:15
GLD from 8:00 to 20:00
SLV from 8:00 to 20:00

The return by the Clearing Centre to the Clearing Members of funds/precious metals as Collateral of Clearing Member2 occurs on the day the Clearing Centre receives the corresponding request/instruction, which is the Settlement Day.

2 - crediting of funds in foreign currency to the Account for collateral return will be made in accordance with the deadlines for the execution of orders in foreign currency to correspondent accounts of the Correspondent Bank, published on the official website of the Correspondent Bank on the Internet.

3. Time of execution of Standing Orders for the return of collateral containing a sign indicating the need to return the entire available amount of funds / the entire available amount of the precious metal

Currency /
Precious metal
For external payments 1 For domestic payments 2
AMD 13:00 13:00
BYN 13:00 13:00
CNY 13:15 13:15
EUR 16:00 16:00
HKD 11:00 11:00
KGS 12:45 12:45
KZT 13:00 13:00
RUB 19:45 19:45
TJS 12:45 12:45
TRY 13:00 14:00
USD 20:00 20:00
ZAR 14:00 14:00
GLD 20:00 20:00
SLV 20:00 20:00
 

A standing order for the collateral return is executed by the Clearing Centre every Settlement Day for the relevant currency / relevant precious metal, starting from the first Settlement Day for the relevant currency / relevant precious metal following the date of submission of the specified order, subject to the conditions of its execution.

A standing order for the collateral return submitted by the Clearing Member in relation to all foreign currencies / precious metals is executed by the Clearing Centre in relation to foreign currencies / precious metals in which the Clearing Centre opened Collateral Accounts at the time of submission of the Order.

1 - return of funds to an Account for the return of collateral opened with a credit institution that is not a Settlement bank / Settlement organisation in such a currency
2 - return of funds to an Account for the return of collateral opened with a credit institution that is a Settlement bank / Settlement organisation in such a currency

 

Execution of the Standing Instruction to return collateral
A Standing Instruction for the return of the collateral is executed by the Clearing Centre every Settlement Day for the corresponding currency / corresponding precious metal, starting from the first Settlement Day for the corresponding currency / corresponding precious metal following the date of the submission of the specified order, subject to the conditions of its execution.

  1. which contains the sign indicating the necessity to return the cash funds / precious metal in the amount of the net claim is carried out after determining the Final net obligations / the final net requirements of the Clearing Member in the corresponding currency / precious metal, specified in the Temporary Regulations. It includes the net requirement for the transactions and the variation margin, does not include the fee. It is convenient to use for early calculations in the FX market. At the same time the amount of the fee must be provided by 20:00.
Currency/Precious Metal Presence of the provided by the Clearing Member Time of execution
Request for the execution of early settlement*

Standing Instruction to execute early settlement,

with the indication of*

HKD, AMD, TJS, KGS x x from 11:00 on the Settlement Date
CNY, BYN, KZT, TRY, ZAR x x from 12:30 on the Settlement Date
USD till 11:00 11:00 from 11:00 on the Settlement Date
from 11:00 till 12:30 12:30 from 12:30 on the Settlement Date
from 12:00 till 14:00 или from 15:15 till 17:30 х

within 15 minutes after the Clearing House receives the

Request for the execution of early settlement

from 14:00 till 15:15 15:15 from 15:15 on the Settlement Date
from 17:30 till 18:00 18:00 from 18:00 on the Settlement Date
RUB till 11:00 11:00 from 11:00 on the Settlement Date
from 11:00 till 12:30 12:30 from 12:30 on the Settlement Date
from 12:00 till 14:00 или from 15:15 till 17:30 х

within 15 minutes after the Clearing House receives the

Request for the execution of early settlement

from 14:00 till 15:15 15:15 from 15:15 on the Settlement Date
from 17:30 till 18:00 18:00 from 18:00 on the Settlement Date
EUR till 11:00 11:00 from 11:00 on the Settlement Date
from 11:00 till 12:30 12:30 from 12:30 on the Settlement Date
from 12:00 till 14:00 х

within 15 minutes after the Clearing House receives the

Request for the execution of early settlement

not submitted not submitted from 15:15 on the Settlement Date
GLD, SLV till 11:00 11:00 from 11:00 on the Settlement Date
from 11:00 till 12:30 12:30 from 12:30 on the Settlement Date
from 12:00 till 14:00 or from 15:15 till 17:30 х

within 15 minutes after the Clearing House receives the

Request for the execution of early settlement

from 14:00 till 15:15 15:15 from 15:15 on the Settlement Date
from 17:30 till 18:00 18:00 from 18:00 on the Settlement Date

*the request for early settlements is submitted without specifying the time, the Standing Instruction for early settlements specifies the time for

early settlements


B) which contains a sign indicating the need to return the funds in the Russian rubles in the amount of the final net claim of the Clearing Member.

It is carried out after determining the Final net obligations / The final net requirements of the Clearing Member in the Russian rubles, specified in the Temporary Regulations. It is convenient to use it for the write-off of the guaranteed fee. It includes the net requirement for the transactions, the variation margin, as well as the fee.

 
Currency Time of the Standing Instruction to return collateral execution with:
RUB the Request to limit the closing time of the transactions with the Clearing Centre the Standing Instruction to limit the closing time of the transactions with the Clearing Centre (with the specification of the time) 18:00
from 17:30 till 18:00 18:00
х х 19:00

1. Clearing Members` Total Net Obligations/Total Net Claims calculation and execution time

Currency/
Precious metal
Trades execution period
(on the Settlement Date)


 
Total Net Obligations
Total Net Claims /
calculation time *
(on the Settlement Date)
Total Net Obligations
execution time **
(on the Settlement Date)

(CUT-OFF TIME)
AMD till 11:00 11:00 till 13:00
BYN till 12:30 12:30 till 13:15
CNY till 12:30 12:30 till 13:15 ***
с 12:30 till 19:00 19:20 till 20:00
EUR till 15:15 15:15 till 16:00
HKD till 11:00 11:00 till 12:00
с 11:00 till 19:00 19:20 till 20:00
KGS till 11:00 11:00 till 12:00
KZT till 12:30 12:30 till 13:15
RUB till 19:00 19:20 till 20:00
TJS till 11:00 11:00 till 13:00
TRY till 12:30 12:30 till 14:00
USD till 19:00 19:20 till 20:00
ZAR till 12:30 12:30 till 13:15
GLD till 19:00 19:20 till 20:00
SLV

*- for the Clearing Members which did not submit the Request for the execution of early settlement or the Standing Instruction to execute early settlement

** - if there is a failure in the payment systems, the specified time may be extended by the NCC` decision until the specified failure is eliminated

*** - currently specified by the NCC`s direction as 20:00 Moscow time

 

2. Margin requirements determination and execution time

  Time to determine Margin Requirements Time to execute Margin requirements
for Settlement Accounts open on the FX Market and Precious Metals Market 10:00 Settlement day before 17:30 on the day the corresponding Margin requirement arises

 

1.  Margin requirements determination and execution time

  Time to determine Margin Requirements Time to execute Margin requirements
for Settlement Accounts open on the Stock Market, Deposit Market and Credit Market 10:00 Settlement day before 17:30 on the day the corresponding Margin requirement arises

2. Сроки определения и исполнения обязательств

Determination of Total Net Obligations / Total Net Claims in securities
arising from trades, executed till 16:00
at 16:00 on the Settlement Date
Execution by Clearing Members of Total Net Obligations in securities
under trades, executed on the Settlement Date till 16:00
at 17:00 on the Settlement
Date
Execution of REPO / buy-sell trades in securities in case if there are Total
Net Obligations / Total Net Claims in securities under trades, executed
on the Settlement Date till 16:00, for the fulfillment of which there is an
insufficient number of securities
from 17:00 till 17:30 on
the Settlement Day
Determination of Total Net Obligations / Total Net Claims in securities,
arising from trades, executed on the Settlement Date from 16:00 till
19:00
at 19:00 on the Settlement Date
Execution by Clearing Members of Total Net Obligations in securities,
under trades, executed on the Settlement Date from 16:00 till 19:00
at 19:00 on the Settlement Date
Execution of REPO / buy-sell trades in securities in case if there are Total
Net Obligations / Total Net Claims in securities under trades, executed
on the Settlement Date from 16:00 till 19:00, for the fulfillment of which
there is an insufficient number of securities
from 19:00 till 19:20 on
the Settlement Day

 

1. Margin requirements determination and execution time  

  Time to determine Margin requirements Time to execute Margin requirements
for Settlement Account for tax payment 10:00 Settlement day before 17:30 on the day the corresponding Margin requirement arises
for Settlement Accounts open on the Derivatives Market Based on the results of each clearing session mark-to-market (until 14:05 and until 19:05) No later than 12:30 30 if a Margin requirement arises after the previous evening clearing session or no later than 17:30 if a Margin requirement arises after the previous day clearing session

1. Margin requirements determination and execution time  

  Time to determine Margin Requirements Time to execute Margin requirements
for Settlement Accounts open on the Standardised Derivatives Market until 21:30 on the Settlement Day until 16:00 on the Settlement Day following the day the corresponding Margin requirement arises

 

 

 

Materials:

NCC`s Clearing rules

Trading Schedule FX and Precious Metals Market

 

Contact details

 

on issues relating to Time Specification please contact Your Personal Manager by the phone number +7 495 363 32 32