Changes to the formula for calculating Additional Fee

Dear MOEX clients,

Starting from July 25, 2025, a revised formula for calculating Additional Fee will be introduced in the Securities Market section.

• The coefficient M is reduced fivefold, from the current 1.0 to 0.02, thereby lowering the final Additional Fee.
• The coefficient k is increased from 0.05 (five hundredths) to 0.07 (seven hundredths).
• The asset liquidity coefficient L, as previously, takes values ​​of either 0.5 or 1.0 depending on the presence of the market maker flag, but it is now considered at an earlier stage.
• A new multiplier K_i is introduced to calculate the normalized number of orders related to the Passive Only flag, which can take values ​​of 0.5 or 1.0.
• The parameter Orders_i_type is introduced to denote the number of orders submitted by the User on behalf of themselves or their Client into the Exchange Trading System for each trading day according to the order type (i).
• The value of Orders is updated to represent the normalized number of actual orders submitted. This plays a crucial role in recalculating orders exceeding the threshold of 1 million units/day.
• The daily ceiling for Additional Fee is increased from 300,000 RUB to 1.5 million RUB.

The revised document titled "Additional fees and charges stipulated in the integrated IT Service Agreement" has been published on the Exchange website: https://fs.moex.com/files/18033 (Russian only).

Corresponding changes are being made to the EQM16 report format, "Clearing participant's liabilities on Additional Fee". Participants will be able to use the following additional lines of information for Additional Fee calculation verification:

Changes in RECORDS node attributes:

• New attribute NumOrdersALL : Number of orders for Additional fee calculation
• New attribute SumNumOrdersMM : The actual number of non-market maker orders, excluding those with the 'Passive Only' flag, used for calculating the adjusted count
• New attribute SumNumOrdersMMPO : The actual number of market maker orders with the 'Passive Only' flag, used for calculating the adjusted count
• New attribute SumNumOrdersPO : The actual number of non-market maker orders with the 'Passive Only' flag, used for calculating the adjusted count
• New attribute SumNumOrders : The actual number of non-market maker orders, excluding those with the 'Passive Only' flag, used for calculating the adjusted count
• The attribute NumOrdersGTA is renamed to NumOrdersALL to display the total number of orders for Additional fee calculation purposes
• The purpose of the attribute NumOrdersGTA is changed to represent the normalized order count for Additional fee calculation
• The attribute NumMMOrdersGTA is removed – Number of market making orders for Additional fee calculation

Changes in DETAILS node attributes:

• New attribute NumOrdersCode : Number of orders
• New attribute NumOrdersMM : Number of market maker orders, excluding those with the 'Passive Only' flag
• New attribute NumOrdersMMPO : Number of market maker orders with the 'Passive Only' flag
• New attribute NumOrdersPO : Number of non-market maker orders with the with the 'Passive Only' flag
• The purpose of the attribute NumOrders is changed to represent the number of non-market maker orders, excluding those with the 'Passive Only' flag
• The attribute NumMMOrders is removed – Number of market making orders

Updated specifications for report formats are available on the MOEX website: https://fs.moex.com/files/13900 .

Updated files containing schemas and styles for printed report forms are available on the MOEX FTP server: https://ftp.moex.com/pub/Reports/Equities .