Changes to the Closing Auction Schedule on the Bond Market

We inform you about changes in the closing auction schedule on the bond market starting from June 23, 2025. These changes are aimed at synchronizing the end of closing auction with the end of main trading session.

These changes affect the T+ main board and the following boards:

TQCB	T+: bonds
TQOY	T+: Bonds CNY
TQOE	T+ Bonds EUR
TQOD	T+: Bonds USD
TQOB	T+: State bonds
TQRD	Т+ D bonds
TQED	Т+ D bonds EUR
TQUD	Т+ D bonds USD
TQYD	T+ D Bonds CNY

Key changes:

1. New closing auction schedule (shifted by 10 minutes):
   • End of trading period: 18:49:59.
   • Start of closing auction: 18:50:01.
   • End of closing auction: 18:59:58.
2. Phases of the closing auction and their times:

Phase	Time/Period of start	Time/Period of end
Order collection for auction	18:50:01	18:55:00 – 18:55:29
Additional order collection for auction	18:55:00 – 18:55:29	18:58:00 – 18:58:59
Closing auction price determination and trade execution	18:55:00 – 18:55:29 or 18:58:00 – 18:58:59
Closing auction trade execution phase	18:55:00 – 18:59:00	18:59:58
Official closing price publication		18:59:59