4th Annual Russian Securities Forum

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1 4th Annual Russian Securities Forum New Products, Investor Solutions, Infrastructural Challenges And How To Sustain Recent Growth Hotel Baltschug Kempinski, Moscow, June 26-27, :30 Registration 9:10 Chairman s Opening Remarks Alexander Potemkin President MICEX Day One: Tuesday, June 26 th, :20 KEYNOTE ADDRESS I:Role Of The Financial Infrastructure In Monetary Policy Implementation Konstantin Korischenko Deputy Chairman CENTRAL BANK OF RUSSIA 9:50 KEYNOTE ADDRESS II: Nikolay Egorov Senior VP and Member of the Executive Board at MICEX, Director THE NATIONAL DEPOSITORY CENTER (NDC) 10:20 Stock Exchange Panel: Analysing Key Factors In Deciding Where To List Securities Investigating Connectivity And Participation. What Can Exchanges Learn From Each Other? Efficiency is the key Linking investors and issuers Development of new instruments Tim Reucroft Director Research THOMAS MURRAY Tim joined Thomas Murray in January 2001 as director with responsibility for research and risk analysis in the European securities markets. Prior to joining Thomas Murray he worked for Capco and KPMG as a consultant, Salomon Brothers as Head of Derivative Operations and at LIFFE (the UK derivatives exchange) where he was Head of Compliance Panellists: Zarina Korolova Manager, CEE International Business Development LONDON STOCK EXCHANGE

2 Gennady Margolit Deputy General Manager MICEX 11:00 Morning Coffee 11:20 Driving The Russian Message And How To Increase Appeal To Foreign Investors Educating the global custodian Resolving post-trade issues Larisa Gorbacheva Senior Client Manager Domestic Custody Services DEUTSCHE BANK 11:50 Panel Discussion: Regional Clearing & Settlement In Russia, CEE & CIS Integration Challenges, What Needs To Be Done And How Can We Move Forward? Panellists: Tamas Madlena KELER Nikolay Egorov Senior VP and Member of the Executive Board at MICEX, Director THE NATIONAL DEPOSITORY CENTER (NDC) Reto Faber Head of Broker Dealers and Banks, Europe, Middle East & Africa CITI 12:30 Investigating Aspects Of Cash Management In Russia And Securities Related Payments Market infrastructure and specifics of settlement Legal regulation of payments and cash accounts Evolution of DVP in Russia and its specifics Possibilities of conducting and optimisation of settlement Natalia B. Sidorova Director Head Securities Services ING WHOLESALE BANKING SECURITIES SERVICES 1:00 Lunch 2:10 Opening The Russian Securities Market To International Investors Changes in the Russian securities market in the last year - an international view The rise of Eurobond issuance in RUB The role of the ICSD in facilitating interoperability between the domestic and international markets Outlook for the future

3 Alain Meyers Director - Relationship Management Northern & Eastern Europe CLEARSTREAM 2:40 Consolidation And Regulation In Securities Settlement The moving boundaries of clearing and settlement infrastructure consolidation Post-trade impact of stock-exchange consolidation The cost and operational benefits of working with harmonised market rules and practices How the Russian market can take advantage of New Europe Philippe Laurensy Director EUROCLEAR 3:10 Latest Developments in Russian IPO Structures The V listing and I listing in practice Domestic offering requirements: 70/30 or 50/50 - what does it really mean, and does it ultimately matter? RDRs - a first step toward bringing the offshore holding companies back on shore? Mark M. Banovich Partner LEBOEUF, LAMB, GREENE & MACRAE LLP 3:40 Afternoon Break 4:00 Russian Stock Accounting Infrastructure: Status and Prospects Stock accounting system in Russia DCC as part of the Russian Settlement Infrastructure Development Prospects of the Russian Stock Accounting Infrastructure Mikhail Laufer President DEPOSITORY CLEARING COMPANY 4:40 Interview: World Trade Organisation (WTO) What Does This Mean to The Russian Financial Markets? David Tarr THE WORLD BANK 5:20 Chairman s Closing Remarks 5:30 Cocktail Reception 9:00 Morning Coffee Day Two: Wednesday June 27 th, 2007

4 9:30 Chairman s Opening Remarks 9:40 Russian Investment In Foreign Securities: Perspectives For Market Development Russian Depository Receipts Dealing with foreign securities Denis Solovyov Deputy CEO NDC 10:10 Panel: Latest Trading Developments And What You Need To Know Derivatives Mutual Funds New currency law Panellists Gene Levinzon Executive Director - Head of OOO Goldman Sachs Operations, Technology and Finance Divisions GOLDMAN SACHS Oleg Jelezko RENAISSANCE CAPITAL Anastasia Levashova MERRILL LYNCH Yury Plechko Head of Structured Products/Derivatives ATON 11:00 Morning Coffee 11:20 The Expanding Alternative Investment Market Where Is This Industry Going? What are the alternative investment vehicles currently available to foreign and domestic investors in Russia? Comparing Russia to other emerging markets similarities & differences Risks & rights Stephen Cohen TROIKA DIALOG 11:50 The Role Of Standards In An Integrated Market

5 12:30 Lunch The use of ISO standards in Russia The impact of Euroland harmonisation on Russia Where next? John Falk Regional Director for Russia, CIS, Eastern Europe and Africa SWIFT 1:50 Outsoucing Opportunities In the Russian Market From A Custodian s Perspective Alexei Fedetov Securities Country Manager Citi 2:30 Investment Behaviour Versus Investment Expectations in Russia International vs. local standards Corporate governance What are acceptable risks? Anastasia Levashova Senior Director MERRILL LYNCH 3:00 Afternoon Coffee 3:20 Closing Address: CSD Regulation And The Way Forward Revolution Or Evolution Alexey Savatyugin Head, Department of Financial Policy MINISTRY OF FINANCE, RUSSIA (invited) 3:50 Chairman s Closing Remarks 4:00 Close Of Conference

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