BELARUSIAN CURRENCY AND STOCK EXCHANGE

Name

Belarusian Currency and Stock Exchange

BCSE

CREATION DATE

March 4, 1993

MANAGEMENT STRUCTURE

General Meeting of Shareholders

Supervisory Council

Chairman of he Board

AUTHORIZED CAPITAL

24.2 million BYN

MAIN MARKETS

BCSE is the single trade site serving the main segments of the Belarussian financial market.

The Securities Market. BCSE provides its technical and program resources for the initial placement of government securities, the initial placement of bonds of economic entities, the sale of stakes owned by the state.

Transactions with securities are concluded in the modes of «continuous double auction», «REPO (free pricing)», «discrete auction», «forward transactions», «simple auction». Various calculation codes are used: S-T+0, S-T+n, S-REPO, NS.

The Currency Market. Transactions with foreign currency are concluded in the «continuous double auction» and «negotiated» modes. Various calculation codes are also used.

The Derivatives Market. Transactions are concluded with futures on foreign exchange rates in the «continuous double auction» mode.

The Money Market. The BCSE organizes deposit auctions, ensuring the placement of free cash among banks.

The main objective of the BCSE is to promote the formation in the Republic of Belarus of a full-fledged organized financial market that meets the needs of its participants, providing the government effective market mechanisms for implementing monetary and budgetary policies, and exercising control and regulatory functions.