News

New edition of the Terms and Conditions of Rendering Investment Services (hereinafter – the Terms and Conditions) clarifies and approves the features related to Receipt and Execution of Trade Orders (Chapter 7).

New edition of the Terms and Conditions as well as other documents can be found on our website www.kfe.ee in the Documents section.

In case of additional questions or concerns, please do not hesitate to contact our client support department via clients@kfe.ee.

We highly appreciate your co-operation.

Sincerely yours, AS KIT Finance Europe

Taking into account the fact that the 5th of March is a day off in Estonia, the 6th, 7th, 8th of March is a holiday weekend in the Russian Federation, non-trade orders in all currencies and transactions of securities will not be processed during this period.

Account statements will be sent as usual. Please consider this information while planning your work and investment decisions during these days and if it’s necessary please submit custody instructions in advance.

You may find more information on our website in Holiday Calendar.

Should you have any queries, please address them to clients@kfe.ee.

MOEX: In connection with the measures taken by the Central Bank of the Russian Federation aimed at stabilization of the financial market, restrictions have been introduced on sale transactions and transfers of securities from the accounts of non-residents of the Russian Federation.

LSE IOB: Restrictions imposed by the prime broker relate to an inability to further increase existing positions. At the moment the clients can only decrease or liquidate their positions.

Please consider this information while making your investment decisions!

December 23rd - shorter working hours – non-trade orders in all currencies will be processed until 12:00 Moscow time;
December 24th – Christmas Eve. Shorter working hours on LSE, LSE IOB, NYSE, NASDAQ, CBOE, CME, ICE markets. XETRA – no Trading. Non-trade orders in all currencies and transactions of securities will be processed until 12:00 Moscow time;
December 27th – 28th– Christmas Holiday/Boxing Day. LSE, LSE IOB, LME, XETRA, Toronto stock exchanges will be closed, there will be no settlements and no trading. Non-trade orders and transactions of securities will be processed until 12:00 Moscow time. Non-trade orders in GBP, CAD will not be processed;
December 31th – New Year’s Eve. Shorter working hours on LSE, LSE IOB stock exchanges. XETRA – no Trading. Non-trade orders in all currencies and transactions of securities will be processed until 12:00 Moscow time;
January 1st – January 2nd– New Year’s Holidays. 

January 3rd – first working day. Trading limits will be updated and reports dated 31.12.2021 will be sent.

Please pay special attention that from 31 December 2021 till 09 January 2022 inclusive – non-trade orders in all currencies will not be processed. Transactions and settlements of securities, including DVP settlement of trades concluded without KIT Finance Europe as a broker will not be processed.

Please consider this information while planning your work and investment decisions during these days and if it’s necessary please credit account / submit custody instructions in advance.
Further data on the trading hours of main exchanges may be found on our website in Holiday Calendar.

Please note that on the 11th and 25th of November, 2021, due to national holidays in the U.S. non-trade orders and settlements in USD will not be processed.

You may find more information on our website in Holiday Calendar.
Please consider this information when making plans for these dates.

Please note that on the 6^th of September, 2021, due to a national holiday in the United States and Canada, Toronto and US stock exchanges will be closed and transactions and settlements in USD and CAD will not be processed.

You may find more information on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during this day.

The new version of application form for natural person is valid from 19.07.2021.

23rd-24th June: due to national holiday in Estonia all non-trade orders and custody instructions will be processed until 13:00 Moscow time.
Brokerage department and client service support will work in the ordinary course. Account statements will be sent as usual.
Please pay attention to possible delays in questions response regarding reports, as well as reports delivery for previous periods.

Should you have any queries, please contact clients@kfe.ee.

Please consider this information while planning your work and investment decisions during these days.

June 14th– Holiday in Russia. Moscow Exchange will be opened. Non-trade orders will not be processed.

Account statements will be sent as usual.

You may find more information on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during these days.

Should you have any queries, please address them to clients@kfe.ee.

May 3rd, due to national holidays Moscow Exchange will be closed. Non-trade orders in all currencies and transactions of securities will not be processed.

During the period from May 4th till May 7th - Moscow Exchange will be opened. Non-trade orders in all currencies and transactions of securities will be processed as usual.

May 10th– Holiday in Russia. Moscow Exchange will be opened. Non-trade orders in all currencies will not be processed. Transactions of securities will be processed as usual.

Account statements will be sent as usual during the holidays.

You may find more information on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during these days.

Should you have any queries, please address them to clients@kfe.ee.

Should you have any queries, please contact Clients supports at clients@kfe.ee.
Thank you for the cooperation.

Kind regards,
AS KIT Finance Europe

2^nd of April 2021 in the U.S., Canada and Europe - Good Friday. Non-trade orders in all currencies will be processed until 12:00 Moscow time. Securities transactions will not be processed. There will be no settlements and no trading.

5th of April 2021– Easter Monday. Non-trade orders and settlements in EUR, GBP will not be processed.

Account statements dated 01 April 2021 will be sent as usual. Trading orders will be accepted by brokerage department of KFE as usual and will be processed according to the work of stock exchanges schedule.

You may find more information on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during these days.

March 8th – Holiday in Russia. Moscow Exchange will be closed. Non-trade orders in all currencies and transactions of securities will not be processed. Reports for Friday 05.03.2021 will be sent. Trading on international stock exchanges will be conducted as usual.

Further data on the trading hours of main exchanges may be found on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during these days.

• Trade orders: orders@kfe.ee
• Non-trade orders and issues related to reporting/account maintenance: clients@kfe.ee
• Issues related to installation and use of trading platforms: support@kfe.ee

• Added the following terms and their explanation: suspension of operations, sanctions, related person

• The following clauses have been changed: clauses 17.30, 21.1, 21.3, 21.4 and 22.3 - 22.8.

We have updated tariffs of KIT Finance Europe with the following changes:

• “KIT Trade” brokerage tariff was abolished

• “KIT Prime” brokerage and custodial services tariff were abolished

• “KIT VIP” brokerage and custodial services tariffs were amended

Changes will come into force on 01.03.2021

The clients previously served by “KIT Trade” and “KIT Prime” tariffs starting from 01.03.2021 will be served by “KIT VIP” brokerage and custodial tariffs.

Updated version of Tariffs as well as other documents of AS KIT Finance Europe can be found on the Company’s website www.kfe.ee in the «Documents» section.

Should you have additional questions or concerns, please do not hesitate to contact Client Management Department via clients@kfe.ee

Best regards,

KIT Finance Europe

www.kfe.ee

February 20th – Non-trade orders in all currencies, transactions of securities, consolidated reports  and account statements for Friday 19.02.2021 will not be processed. Trade operations, including currency conversion transactions, will only be possible through the QUIK trading platform. Deposits of funds in RUB will be processed on 22.02.2021.

February 22nd – Holiday in Russia. Moscow Exchange will be opened. Non-trade orders in all currencies and transactions of securities will not be processed. Reports for Friday 19.02.2021 will be sent. Trading on international stock exchanges will be conducted as usual.

February 23^rd – Holiday in Russia. Moscow Exchange will be closed. Non-trade orders in all currencies and transactions of securities will not be processed. Reports for Monday 22.02.2021 will be sent. Trading on international stock exchanges will be conducted as usual.

Further data on the trading hours of main exchanges may be found on our website in Holiday Calendar.

Non-trade orders for withdrawal of funds in RUB, EUR, USD, submitted by the client in the period from February 20 to 23, will be executed no earlier than February 24. Non-trade orders for deposit of funds in EUR, USD, submitted by the client in the period from February 22 to 23, will be executed no earlier than February 24.

Please consider this information while planning your work and investment decisions during these days.

Should you have any queries, please address them to clients@kfe.ee during the holiday period.

December 31th – New Year’s Eve. Shorter working hours on LSE, LSE IOB stock exchanges. XETRA – no Trading. Non-trade orders in all currencies and transactions of securities will be processed until 12:00 Moscow time;

January 1st – January 3rd– New Year’s Holidays. All stock exchanges and banks will be closed.

January 4th – first working day. Trading limits will be updated and reports dated 31.12.2020 will be sent.

Please pay special attention that from 01 till 10 January 2021 inclusive – non-trade orders in all currencies will not be processed. Transactions and settlements of securities, including DVP settlement of trades concluded without KIT Finance Europe as a broker will not be processed.

Please consider this information while planning your work and investment decisions during these days.

Further data on the trading hours of main exchanges may be found on our website in Holiday Calendar.

Should you have any queries please address them to clients@kfe.ee during the holiday period.

US Markets will be closed.

The Association for Financial Markets in Europe (AFME) is the voice of all Europe’s wholesale financial markets, providing expertise across a broad range of regulatory and capital markets issues.

https://www.youtube.com/watch?v=Cwajq4oe_hg&feature=emb_title

We have updated our Terms and Conditions of Rendering Investment Services with the following changes:

• Added new terms and definitions: AML/CFT and respondent institution
• Added clause 5.21 about correspondent relationships
• Added clause 7.30 on Investment Firm rights to reject execution of a trade order
• Added clause 10.1 on REPO trade execution for professional and eligible counterparties only
• Added clause 14.5 on Investment Firm rights to reject non-trade operations
• Modified clause 22.6 on funds and assets withdrawals after termination of the Client’s contract and fines for late withdrawals
  
  We have also updated tariffs of KIT Finance Europe with the following changes:

• Moscow Exchange (MOEX, Russia) is now available in “TWS” tariff
• Maintenance fee for suspended nominee/asset management account is introduced
• Amendment of fee for execution of orders on London Metal Exchange (LME)
• Changes in commission for crypto currencies deposits, withdrawals and safekeeping
• Amendment of fee for processing of trade, non-trade or other orders sent by fax, email or in paper form
• Electronic execution of cryptocurrencies via QUIK trading terminal is no longer available (only voice execution)
• Postal services fee is introduced 
• Funds withdrawal is now available in currencies other than RUB, USD and EUR (each request is individually reviewed)

Changes in tariffs will come into force on 01.07.2020.
Updated version of Tariffs as well as other documents of AS KIT Finance Europe can be found on the Company’s website www.kfe.ee in the «Documents» section.
Should you have additional questions or concerns, please do not hesitate to contact Client Management Department via clients@kfe.ee

Best regards,
KIT Finance Europe
www.kfe.ee

June 12th and 24th due to national holidays Moscow Exchange will be closed. Non-trade orders will not be processed.

July 1st due to national holidays Moscow Exchange, Toronto Stock Exchange, Hong Kong Stock Exchange will be closed, there will be no settlements and no trading.

July 3rd - Independence Day, U.S. stock exchanges will be closed and settlements in USD will not be processed.

Account statements will be sent as usual during the holidays.

You may find more information on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during these days.

US Markets will be opened.

May 4th and 5th - non-trade orders in all currencies will not be processed.

11th of May 2020– National Holiday in Russia. Moscow Exchange will be closed. Non-trade orders in all currencies and transactions of Russian securities will not be processed.

Account statements will be sent as usual during the holidays.

You may find more information on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during this day.

This covers both products with physical delivery and financial settlement. All positions in WTI Crude Oil, Brent Crude Oil, RBOB Gasoline, ICE Heating Oil, ICE Gasoil, NY Harbor ULSD contracts must be closed at least 7 days before expiration. Otherwise positions will be closed according to mandatory liquidation clause in Terms and Conditions.

10th of April 2020 in the U.S., Canada and Europe - Good Friday. Non-trade orders will not be processed. There will be no settlements and no trading.

13th of April 2020– Easter Monday. Non-trade orders and settlements in EUR, GBP will not be processed.

Account statements dated 09 April 2020 will be sent as usual. Non-trade orders and transactions of securities and other requests dated 10 April 2020 will be processed on 13 April 2020.

Trading orders will be accepted by brokerage department of KFE as usual and will be processed according to the work of stock exchanges schedule.

You may find more information on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during these days.

Non-trade orders in USD will not be processed.

You may find more information on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during this day.

January 2nd - January 3rd: Trade orders, non-trade orders and instructions submitted via Personal Account will not be processed.

Happy New Year 2020!

December 24th – Christmas Eve. Shorter working hours on LSE, LSE IOB, NYSE, NASDAQ, CBOE, CME, ICE markets. XETRA – no Trading. Non-trade orders in all currencies and transactions of securities will be processed until 12:00 Moscow time;

December 25th – Christmas Holiday. All international stock exchanges will be closed. Trading on the Moscow Exchange will not be affected by the holiday. Non-trade orders and settlement will not be processed except RUB;

December 26th – Christmas Holiday/Boxing Day. LSE,LSE IOB, LME, XETRA, Toronto stock exchanges will be closed, there will be no settlements and no trading. Non-trade orders and transactions of securities will be processed until 12:00 Moscow time. Non-trade orders in EUR, GBP will not be processed;

December 31th – New Year’s Eve. Shorter working hours on LSE, LSE IOB stock exchanges. XETRA – no Trading. Non-trade orders in all currencies and transactions of securities will be processed until 12:00 Moscow time;

January 1st – New Year’s Day. Holiday. All stock exchanges and banks will be closed.

January 2nd - January 3rd Trading on international stock exchanges will be as usual. Moscow Exchange will be opened. Office KFE will be closed. Voice trading orders, non-trade orders and instructions submitted by personal account will not be processed;

January 3rd will be update trading limits and reports dated 31.12.2019, 02.01.2020 will be sent.

Please pay special attention that from 01 till 08 January 2020 inclusive – non-trade orders in all currencies will not be processed. Transactions and settlements of securities, including DVP settlement of trades concluded without KIT Finance Europe as a broker will not be processed.

Please consider this information while planning your work and investment decisions during these days.

Further data on the trading hours of main exchanges may be found on our website in Holiday Calendar.

US Markets will be closed.

You may find more information on our website in Holiday Calendar.

Please consider this information when making plans for this date.

Trading on the stock exchanges of US and Toronto will not be affected by the holiday.

You may find more information on our website in Holiday Calendar.

Please consider this information when making plans for this date.

November 4th – holiday in Russia. Russian Exchanges and Banks will be closed, funds transactions and operations with Russian securities will not be processed. More information you may find on our website in Holiday Calendar.

Account statements will be sent as usual.

Should you have any queries please address them to clients@kfe.ee.

Please consider this information while planning your work and investment decisions during this day.

New payment details you may find HERE.

Please use new details for the correct and prompt deposit to your brokerage account.

Please note that using the old details after October 15, 2019, may lead to non-crediting of funds to your account.

Toronto and Tokyo stock exchanges will be closed. US Markets will be opened.

You may find more information on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during this day.

We would like to notify, that the Company has made amendment to paragraph 1.1 (changes in term "securities"), which will come into force on 13th September 2019.

New edition of the Terms and Conditions of Rendering Investment Services by AS KIT Finance Europe is available on our website www.kfe.ee under Documents section.

Should you have additional questions or concerns, please do not hesitate to contact our clients support team (clients@kfe.ee).

Kind regards,
KIT Finance Europe
www.kfe.ee

You may find more information on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during this day.

Please find more information on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during this day.

Please find more information on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during this day.

Moscow Stock Exchange and Russian banks will be closed, settlement, non-trade orders in RUB, USD, EUR and operations with Russian securities will not be processed.

More information can be found on our web site in HolidayCalendar.

Please consider this information when planning this day.

More information can be found on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during this day.

Detailed information may be found on our website in Holiday Calendar.

April 19th – Good Friday – shorter working hours – Non-trade orders in RUB and custody instructions with Russian securities will be processed until 12:00 Moscow time. Non-trade orders in in EUR, GBP will not be processed, settlements in USD, EUR, GBP will not be processed.

April 22nd – Easter Monday. Non-trade orders and settlements in EUR, GBP will not be processed.

Account statements will be sent as usual.

Please consider this information while planning your work and investment decisions during these days.

First of all, we would like to present a new Reporting module in the Personal Account (pa.kfe.ee), which will allow you to independently create reports at any time convenient for you.

At the moment, the following reports are available via the Personal Account:

• Client’s standard report
• Analytical report
• TWS report (applicable to clients with “TWS” tariff)
• International derivatives report
• MOEX derivatives report (FORTS)

Individual reports will also be provided via the Personal Account.

Taking these facts into account, starting from 15th April 2019 the Company intends to finish usual delivery of reports via email. If you wish to continue receiving reports via email, please inform our clients support team (clients@kfe.ee).

In order to synchronize regulatory measures aimed at combating money laundering and terrorism financing, the Company has made amendments to paragraphs 5.12, 14.8 as well as chapter 16 of the Terms and Conditions, which will come into force on 15th April 2019.

KIT Finance Europe tariffs are affected due to new markets Euronext BE (electronic execution) and Tel Aviv Stock Exchange (TASE), cancellation of KIT-Premier Global tariff (personal notification will be sent additionally to related clients), changes in tariff rates KIT-Prime and KIT-VIP, reduced fees for withdrawing funds to Absolut Bank and Alfa-Bank, and increased fees for withdrawals to other banks, increased fees for processing orders not via the Personal Account (email, paper orders, etc.) and other changes. These amendments will also come into force on 15th April 2019.

New edition of the Terms and Conditions of Rendering Investment Services by AS KIT Finance Europe, tariffs and other documents are available on our website www.kfe.ee under Documents section.

Should you have additional questions or concerns, please do not hesitate to contact our clients support team (clients@kfe.ee).

Kind regards,
KIT Finance Europe
www.kfe.ee

March 7th – shorter working hours – non-trade orders in RUB and custody instructions with Russian securities will be processed until 14:00 Moscow time.

March 8th-10th – holidays in Russia. Transactions in RUB and Non-trade orders in EUR, USD will not be processed; Custody instructions with Russian securities will not be processed. Account statements will be sent as usual.

Please consider this information while planning your work and investment decisions during these days.

Further data on the trading hours of main exchanges may be found on our website in Holiday Calendar.

Should you have any queries please address them to clients@kfe.ee during the holiday period.

December 24th – shorter working hours – non-trade orders in all currencies will be processed until 12:00 Moscow time;

December 25th – Christmas Holiday. Shorter working hours – non-trade orders and settlement in CAD, USD, EUR, GBP will not be processed;

December 26th – Christmas Holiday. Shorter working hours – non-trade orders in CAD, EUR, GBP will not be processed;

December 29th – shorter working hours – non-trade orders in RUB will be processed until 12:00 Moscow time;

December 31st - January 1st – Holidays;

January 2nd is the first working day, reports dated 29.12.2018, 31.12.2018 will be sent.

Transactions with RUB and settlements of securities, including DVP settlement of trades concluded without KIT Finance Europe as a broker will not be processed from 01 till 08 January 2019.

Please consider this information while planning your work and investment decisions during these days.

Further data on the trading hours of main exchanges may be found on our website in Holiday Calendar.

Should you have any queries please address them to clients@kfe.ee during the holiday period.

Trading on the stock exchanges of US and Toronto will not be affected by the holiday.

Please consider this information when making plans for this date.

Trading on the stock exchanges of US and Toronto will not be affected by the holiday.

Please consider this information when making plans for this date.

Firstly, we are happy to share the news with you regarding new projects that have been recently launched by our side. We were working on improving our service in several ways:

• We have added new payment method via debit or credit cards. Now you can find this option on our official web-site page on the Bank details page. Moreover, this payment method will be available soon in the Personal Account. Please note, that this service is only available in Russian rubles now.
• There is a new list of banks available for accepting and withdrawing the funds. Now you can deposit your funds to our account in Alfa-Bank, Russia. You can find further bank account details on the Bank details website page.
• We have managed to integrate additional two-factor authentication while login into the Personal Account via SMS-code verification. The new security methods will be available for all clients. We recommend our clients to update your mobile phone details in order to be able to use the new system without any technical issues. You can update these details via the Personal Account or directly at our offices.
• We have added Bitcoin, Ethereum, Litecoin, Ripple and other popular instruments (13 cryptocurrencies) in the QUIK terminal and its mobile applications. You are now can trade these products in Russian Rubles, Euros and US Dollars. Electronic execution is now easier than ever before.
• There are new markets are now available for trading. You can trade Baltic Countries markets such as Estonia, Latvia, Lithuania (NASDAQ Baltic).

Taking into account recent changes in regulations, new our services, lifting the Federal funds rate in the United States, negative ECB rate in European Union, we have added some changes in our Terms and Conditions of Rendering Investment Services and Tariffs. These changes will come into force by 18th of October 2018. We have also removed from the Terms and Conditions such documents as clients application forms, list of documents for KYC, suitability and appropriative test and bank details (Appendixes 3, 4, 10). The documents are now managing by other internal company policies.

You can find updated version of the Terms and Conditions, commission rates and other documents on our website www.kfe.ee on the Documents page.

If you have any questions, or need any further information, please do not hesitate to contact our Clients support team clients@kfe.ee.

Dear clients,

9th June – short working hour day in Russia. Non-trade orders in RUB and operations with Russian securities will be processed till 13:00 PM Moscow time. Account statements will be sent as usual. Settlements in USD, EUR and GBP (security settlements, currency exchange, withdrawal etc.) will not be processed. Please note that voice execution will be unavailable during this day. Only DMA trading will be available.

12th June – holiday in Russia. MOEX is closed, non-trade orders in RUB and operations with Russian securities will not be processed.

Further data on the trading hours of main exchanges may be found on our website in Holiday Calendar.

Should you have any queries please address them to clients@kfe.ee during the holiday period.

With kind regards,

Cryptocurrency

KIT Finance Europe moves cryptocurrency trading to a new level. This market is now available to all our Clients.

Specifically, live quotes are available for free in trading terminal QUIK, while receipt of orders is performed via the phone or Personal Account. Transactions with Bitcoin, Ethereum and other instruments may be performed using RUB, EUR, USD and other currencies on the Client’s account in KIT Finance Europe.

Before executing transactions with cryptocurrencies, it is essential to get acquainted with the risks and features specified in Appendix №14 to the Terms and Conditions and send signed document to clients@kfe.ee or via Personal Account.

Apart from direct transactions with cryptocurrencies, Clients may also trade Bitcoin Futures on CME and CBOE.

Margin Trading

In compliance with the general strategy of KIT Finance Broker Group, KIT Finance Europe significantly decreases RUB interest rates for securities and funds loans. Starting from 1st January 2018, RUB interest rate in KIT-Standard tariff will be only 12.95% per annum.

Moreover, USD interest rate remains the same, despite recent rate hikes implemented by the US Federal Reserve. USD rate in KIT-Standard tariff is 6.9% per annum.

Penny Stocks

Taking into account Clients' requests, the Investment firm have set up the boundary for the maximum commission charged for trades with penny stocks. Commission will not exceed 3% (KIT-Standard tariff) of trade value or the amount of the minimum rate.

MOEX Derivatives market, Custody Services and Other Amendments in Tariffs

Unfortunately, MIFID II, MIFIR (Regulation № 600/2014) and other regulatory directives that will come into force in 2018, brought significant load on activities of investment companies. Considering this fact, KIT Finance Europe is forced to amend a number of commission rates towards increase: in particular, rates for storage of securities, operations on MOEX derivatives market (FORTS) and OTC markets. In addition, commission for maintenance of suspended account is introduced.

On the other hand, AS KIT Finance Europe returned to practice of monthly write-off of commissions for custody services, which will significantly reduce the number of reports sent to Clients.

You may find more information regarding tariffs on our website www.kfe.ee.

KIT Finance Europe has always been open for dialogue with Clients to help find the balance acceptable for both parties either through implementation of individual tariffs for Clients with significant trading volumes or through other means. KIT Finance Europe is faithful to this approach and is always ready to negotiate with Clients trading agreements and tariffs. Please contact your client manager or sales@kfe.ee for detailed information.

Best Execution Policy

Starting from 1st January 2018, in addition to the updated Terms and Conditions of Rendering Investment Services, new edition of Best Execution Policy that reflects the requirements of MIFID II as well as conditions of execution of Clients’ orders, will come into force. KIT Finance Europe kindly asks you to get acquainted with the updated document on our website www.kfe.ee.

In particular, the Investment firm would like to receive confirmation of your consent with the following: (i) KIT Finance Europe (unless established otherwise by the legislation) has the right not to immediately make public any limit order you place with us in respect of shares admitted to trading on a regulated market or traded on a Trading Venue where that order cannot immediately be executed; (ii) execute an order on your behalf outside a Trading Venue where we reasonably believe this is necessary to achieve best execution; and (iii) execute orders you place with us partially; in particular, market orders may be divided into smaller orders, which will be executed separately; (iv) execute orders you place with us in accordance with our Best Execution Policy.

Classification of Clients

General approach to classification of Clients in MIFID II remained the same, although requires additional consent from the Client to earlier issued category (retail client, professional client and eligible counterparty).

Recording of conversations and other messages

KIT Finance Europe keeps records of phone, electronic and other conversations between the Client and employees of the Investment firm and stores these records in accordance with the rules established by the Terms and Conditions and legislation.

LEI Code

In accordance with MiFID II and MiFIR, all legal entities executing transactions with financial instruments are required to have LEI code.

Starting from 3rd January 2018 KIT Finance Europe is prohibited to execute transactions with financial instruments on behalf of legal entities, if these legal entities do not have LEI code.

For the allocation of LEI code and verification of its availability, legal entities are recommended to use www.gleif.org.

KIT Finance Europe also offers the service of allocation and maintenance of LEI Codes. Please contact client management department for the receipt of additional information clients@kfe.ee.

KIT Finance Europe LEI code – 549300HXOCTXFFW8RD19.

Identification Data

Implementation of regulatory requirements for automatic exchange of information, new requirements of 4th EU Directive on combating legalization and terrorism financing (Directive 2015/849), sanction, tax and other regulations enforced corrections to the list of required information provided by Clients and to the forms of identification questionnaires.

Consent

Hereby KIT Finance Europe kindly asks you to confirm your consent with the information provided, recording of calls (messages), conditions of execution of orders as well as updated documents. You may send your consent by any explicit means of communication to clients@kfe.ee.

In case of absence of information from the Client’s side until 03.01.2018, KIT Finance Europe shall consider your consent with all the amendments, new conditions and classifications as valid.

You may find more information regarding updated edition of the Terms and Conditions, Best Execution Policy, tariffs and other documents on our website www.kfe.ee in “Documents” section.

Should you have additional questions or concerns, please do not hesitate to contact client support service clients@kfe.ee.

Thank you for cooperation and wish you a Merry Christmas and a Happy New Year!

Kind regards,
KIT Finance Europe
www.kfe.ee

Dear Clients,

We would like to your bring your attention to rules on withholding tax on income sourced within Russian Federation applicable from 2017.

According to the current tax law, tax agents, who include Russian depositories and brokers, are responsible for calculation and withholding of tax on dividend payments and other forms of income on securities and other financial instruments (including derivative instruments) traded in the Russian Federation and/or issued by Russian issuers.

Unless otherwise agreed by international tax treaties, following tax rates are applicable[i]:

In order to use the tax benefits under the Russian tax law and the double-tax treaties between the Russian Federation and the country of your tax residency, you are required to submit a list of documents in accordance with Appendix 3 of Terms and Conditions for Rendering of Investment Services.

If you are acting on behalf of a third party, the required documents must be submitted for the final beneficiary.

Documents must be submitted electronically by 07.04.2017 via email address clients@kfe.ee or Personal Account with subsequent submission of original documents.

Please note that under the Russian tax law the tax agent will apply the maximum tax rate if the required documents are not submitted.

If you have any queries please do not hesitate to contact our client services department by sending an email to clients@kfe.ee

Thank you for your cooperation.

Sincerely yours,

AS KIT Finance Europe

__________________

[i] The tax rates indicated in this notice are valid as at 31.03.2017. With the current rates and their application is necessary to familiarize themselves in the Tax Code of the Russian Federation and in the relevant agreements on avoidance of double taxation.

[ii] List of countries with double-tax treaties with Russian Federation is available here (https://www.nalog.ru/eng/international_cooperation/dta )

February 20^th - national holiday in the U.S. and Canada. Settlements in USD and CAD (security settlements, currency exchange, withdrawal etc.) will not be processed.

February 22nd – shorter working hours – non-trade orders in RUB and custody instructions with Russian securities will be processed until 15:00 Moscow time;

February 23 - 24th – holidays in Russia. Transactions in RUB will not be processed; Custody instructions with Russian securities will not be processed.

March 7^th - – shorter working hours – non-trade orders in RUB and custody instructions with Russian securities will be processed until 15:00 Moscow time;

March 8th – holiday in Russia. Transactions in RUB will not be processed; Custody instructions with Russian securities will not be processed.

Account statements will be sent as usual.

Please note, that Moscow Exchange will work on 24 February 2017.

More information you may find on our website in Holiday Calendar

Please consider this information while planning your work and investment decisions during this day.

All questions regarding non-trade orders please send to settlements@kfe.ee

What is changing?

Federal Law of the Russian Federation as of 28.06.2014 №173-FZ and the Decree of the Federal Tax Service of Russia № MMV-7-14 / 501 @ as of 9 November 2015 set out the obligation to the KIT Finance Europe to disclose the information to the Federal Tax Authorities of Russian Federation (FTS of RF) on the accounts owned by citizens of the Russian Federation or the accounts owned by legal entities directly or indirectly controlled by citizens of the Russian Federation.

When KIT Finance Europe is obligated to disclose the information to the FTS of RF?

The information should be disclosed yearly, by the 30th of September of the year, followed by the year when the account (deposit) was opened.

Therefore, KIT Finance Europe will disclose the information to the FTS of RF on all clients, who have entered into agreement on opening the account in 2015.

Who will be affected?

• Citizens of the Russian Federation;
• Entities directly or indirectly controlled by the Russian citizens (stake holding over 25%).

What information will be disclosed by KIT Finance Europe?

For individuals:

• FULL NAME
• INN
• Date and place of birth
• Residential Address in the Russian Federation and abroad (if any)
• Series and number of identity document
• Date of issue of this document
• The number of accounts, opening and closing dates, the type of account

For legal entities – registered in the Russian Federation:

• Legal name
• TIN and BIN
• GIIN (if any)
• Registered address in the Russian Federation
• The number of accounts, opening and closing dates, the type of account
• Information on the beneficiaries is not specified

For legal entities – not registered in the Russian Federation:

• Name
• TIN
• GIIN
• The registration number in the country of registration and date of registration
• Registered address in the country of registration
• The number of accounts, opening and closing dates, the type of account

+ Information on direct or indirect beneficiaries-Russian citizens-all the same as for individuals except the information on accounts.

The information about clients’ operations and assets will NOT be revealed to the FTS of RF.

What conclusions should be drawn from these regulations?

The FTS of RF will get the information on the accounts owned by citizens of the Russian Federation or the accounts owned by legal entities directly or indirectly controlled by citizens of the Russian Federation opened in 2015, if accounts owners have not previously provided this information.

Please note, the KIT Finance Europe is not a tax agent of Russian Federation and therefore does not pays the taxes and does not file a tax return for the clients. Clients are obligated to declare their income and fill the tax return forms themselves.

In order to assist clients in the collection of information for the tax purpose, upon on your request KIT Finance Europe will provide the account statement containing all the operations on the accounts for the required period.

Information in more details is available on https://www.nalog.ru/rn77/about_fts/docs/5852454/
http://www.consultant.ru/document/cons_doc_LAW_164843/

If you have any questions please do not hesitate to contact Customer Support at clients@kfe.ee

We look forward for the mutually beneficial cooperation.

Should you have any queries, please contact settlements@kfe.ee.

Please consider this information while planning your work and investment decisions during these days.

Starting from 23.06.2016 you do not have to submit an instruction for cash deposit. It is sufficient to make a bank cash transfer with one of the following payment details (reasons) specified correctly.

*IMPORTANT: Please be aware that different bank systems have their proper character (symbol) limits for payment details (reasons) field, so our examples listed above may be too long to fit in such a field. Hence, you may shorten or abbreviate the phrase but leave the obligatory part (in bold print) intact. If this requirement is not met your transfers will be processed manually and KIT Finance Europe may be entitled to request cash deposit instruction from the Client.

If you have any queries please don’t hesitate to contact client services department by sending an email to
href="mailto:clients@kfe.ee">clients@kfe.ee.

Dear Clients,

Please note the following working hours during the upcoming holidays:

• 1-3, 9 of May – holidays in Russia. Russian Exchanges will be closed, transactions in RUB and operations with Russian securities will not be processed.
• 2 of May - Holiday in UK. LSE is closed, transactions in GBP will not be processed.

More information you may find on our website in Holiday Calendar.

Please consider this information when you make plans for these days.

All questions regarding non-trade orders please send to settlements@kfe.ee.

With kind regards,
AS KIT Finance Europe.

In case you fail to update personal information on time, the Investment Firm will have to suspend your account and trade system until renewal of the required information.

If you have any queries please don’t hesitate to contact client services department by sending an email to clients@kfe.ee

Thank you for understanding and cooperation.

February 20th – shorter working hours – non-trade orders in RUB and custody instructions with Russian securities will be processed until 15:00 Moscow time;

February 22, 23th – holidays in Russia. Transactions in RUB will not be processed; Custody instructions with Russian securities will not be processed.

March 7, 8th – holidays in Russia. Transactions in RUB will not be processed; Custody instructions with Russian securities will not be processed.

Account statements will be sent as usual.

Please note, that Moscow Exchange will work on 22 February 2016 and 7 March 2016.

More information you may find on our website in Holiday Calendar

Please consider this information while planning your work and investment decisions during this day.

All questions regarding non-trade orders please send to settlements@kfe.ee

More information you may find on our website in Holiday Calendar

Please consider this information while planning your work and investment decisions during this day.

December 24, 25, – shorter working hours – non-trade orders in all currencies will be processed until 14:00 Moscow time;

December 24 - limited access to non-trade transactions with USD, EUR, GBP in banks outside of Russian Federation will be provided on 24 December 2015;

December 25th – Christmas holiday, non-trade orders In CAD, USD, EUR, GBP will not be processed;

December 28th – Christmas holiday, non-trade orders GBP will not be processed;

December 31st – shorter working hours – non-trade orders in all currencies will be processed until 12:00 Moscow time;

January 1– holiday;

January 4th is the first working day.

Transactions in RUB and russian securities will not be processed from 01 till 10 January 2016.

Please consider this information while planning your work and investment decisions during this day.

Further data on the trading hours of main exchanges may be found on our website in Holiday Calendar.

Should you have any queries please address them to settlements@kfe.ee during the holiday period.

It would be appreciated if you provide us a new Power of Attorney (POA) in case the current one is close to its expiry date.

These amendments mainly concern the algorithm of marginal lending, the introduction of new parameter such as risk rate, affecting the calculation of the initial and maintenance margin levels, assessment of a client's portfolio. These changes will allow more flexibility in assessing the market conditions of a wide range of instruments accepted as collateral or for short positions. In addition to the abovementioned changes additional grading (classification of clients) subject to acceptable marginal lending risk is introduced. Clients who have the right to get lower rates of risk (higher leverage) will be informed additionally. Other clients who have previously had the 2nd leverage (initial margin level - 33% and the threshold margin level - 25%) will continue to get the service on the updated standard conditions according to the Terms and Conditions and the risk rates without additional notification. Clients, who have no access to margin transactions, will continue investment activities without any changes.

You may find more information about the new margin trading terms on our website www.kfe.ee in the section Brokerage servises / Margin lending.

In addition to the securities market, a similar approach is also applied to the marginal lending in the FX market and the precious metals market of the Moscow Exchange.

We made some changes in the tariffs, in particular adjusted commission fees for securities transfers, reduced the minimum trading commission in the KIT-General tariff and introduced free of charge authorization for iQUIK / QUIK Android for clients with main trading terminal QUIK.

Please pay your attention to the introduction of fees for non-trade orders submitted by fax, email or in paper form starting from 01.01.2016. We kindly ask you to access Personal account in advance and use the service for document provision to KIT Finance Europe. We also have to inform that due to technical features and structuring of the accounts opened on the derivatives market of the Moscow Exchange (also known as FORTS), all clients, having a structure of accounts as 1500XXX (where XXX - free symbols) will be obliged to change them to new accounts before 01.01.2016. Information about the new accounts will be provided to you separately. KIT Finance Europe keeps the right to suspend the opening of new positions on old accounts and to carry out a forced transfer of open positions to new accounts. To avoid misunderstandings, we kindly ask you to carry out these activities by yourself.

You may find new documents at the website of KIT Finance Europe - www.kfe.ee

If you have any queries please do not hesitate to contact our client services department by sending an email to clients@kfe.ee

Thank you for your cooperation and apologize for any inconvenience.

More information you may find on our website in Holiday Calendar

Please consider this information while planning your work and investment decisions during this day.

More information you may find on our website in Holiday Calendar

Please consider this information while planning your work and investment decisions during this day.

Account statements will be sent as usual.

Should you have any queries please address them to settlements@kfe.ee.
Please consider this information while planning your work and investment decisions during this day.

Please consider this information while planning your work and investment decisions during this day.

Please consider this information while planning your work and investment decisions during this day.

These amendments mainly concern the clarification of the Russian Federation tax legislations, which require identification of the actual recipient of the income coming from financial securities traded in the Russian markets. In particular, the Investment firm is entitled to require the Clients (actual income recipients/beneficiaries) to provide tax certificates and other documents as a proof of preferential taxation right in Russia. Also in terms of custodial services, the instruction form has been amended so that it clearly distinguishes between the types of custodial operations.

You may find new documents at the website of KIT Finance Europe - www.kfe.ee
If you have any queries please do not hesitate to contact our client services department by sending an email to clients@kfe.ee

Please consider this information while planning your work and investment decisions during this day.

Should you have any queries, please contact settlements@kfe.ee.

Please consider this information while planning your work and investment decisions during this day.

More information you may find on our website in Holiday Calendar

Please consider this information while planning your work and investment decisions during this day.

These amendments affect the reporting procedure of KIT Finance Europe and its Clients registered in the European Union under European Market Infrastructure Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (EMIR).

Unless otherwise specified by parties, starting from 11th of May 2015 KIT Finance Europe would not provide the services of reporting Client’s transactions on derivatives market of Moscow Exchange to a trade repository.

In addition KIT Finance Europe would like to inform, that in accordance with Money laundering and terrorist financing prevention Act, the activity in accounts of Clients, who did not update their personal identification details, will be suspended until the required information is renewed. You can update information online through your Personal Account and provide any proving paper documents when required.

You may find new documents at KIT Finance Europe website www.kfe.ee

If you have any queries please don’t hesitate to contact client services department by sending an email to clients@kfe.ee

Account statements will be sent as usual.

Should you have any queries please address them to settlements@kfe.ee during holidays.

Please consider this information while planning your work and investment decisions during these days.

Ten years is a significant date for the business. It is an important time – within this period the company has grown up and is flourishing further! It is about stability, experience, professionalism, a cohesive team and strong partner relationships.

Started as an absolutely new company, KIT Finance Europe has gone all the way to an international company providing global access to all major exchanges. The company cooperates with the world's leading investment institutions and has credit lines with a wide range of counterparties.

Today KIT Finance Europe is providing integrated direct market access solutions, direct market access (DMA) to international exchanges for investors with different investment strategies – from individuals to professionals, who use high-frequency trading (HFT) and require advanced technical and speed characteristics.

Among the company's clients, there are large institutional business representatives (hedge funds, banks, investment, insurance and asset management companies). During 10 years of activity, KIT Finance Europe has gathered a wide network of counterparty relationships and a positive reputation. These factors allow the company to offer its institutional clients a comprehensive services on OTC market – execution, settlement and custody.

Business geography of KIT Finance Europe is constantly expanding and currently covers most of the global financial market including American, European, Russian and Asian regions.

«Ten years is still quite young age for the investment company, but it gives us the right to use the most advanced technologies and be more flexible in the service we offer» – says Andrei Galushkin, Member of the KIT Finance Europe’s Management Board. «However, during this period equity capital has increased twice, representatives from 51 countries have become our clients, a branch in Cyprus (Limassol) and a representative office in Russia (St. Petersburg) have been opened. The company is accredited by the ISDA. Last year, turnover volume on the stock exchange market accounted for €12.15 billion, on the OTC market – €21.8 billion. The current geopolitical situation is one of the greatest challenges for the company, but we are confident about the future, we set high goals and we will move forward keeping the best that has been achieved. The main goal of our work is still the same – to ensure the most comfortable conditions of cooperation for our customers and partners.»

Please use current bank account details specified in Appendix 10.1 to Terms And Conditions of Rendering Investments Services by KIT Finance Europe (Estonia) and in Appendix 10.2 to Terms And Conditions of Rendering Investments Services by KIT Finance Europe Cyprus Branch.

The clients of KIT Finance Europe Cyprus Branch should pay attention to our new bank accounts at Absolute Bank:

INN of KIT Finance Europe Cyprus Branch – 9909412030
USD account number – 4080 7840 2240 0000 0007
EUR account number – 4080 7978 8240 0000 0010
RUB account number – 4080 7810 6240 0000 0006

In case you have any queries please do not hesitate to contact our client services department by sending an email to clients@kfe.ee

KIT Finance Europe is becoming more transparent and publishes standard fees on its website www.kfe.ee. Because of the long-term period of keeping some fees intact, we have to increase the number of commissions on the Russian market. The changes also concern custodial tariffs in order to ensure more transparent services and uniqueness of the service fees.

At the same time we kindly ask you to update your personal identification details until 30.04.2015 by submitting necessary ID forms online (in your Personal Account) and provide any proving paper documents when required. Otherwise, the Investment Firm will have to suspend your account until renewal of the required information. You may find new documents at KIT Finance Europe website www.kfe.ee

If you have any queries please don’t hesitate to contact client services department by sending an email to clients@kfe.ee

Please consider this information while planning your work and investment decisions during this day.

ISDA (International Swaps and Derivatives Association) was established in 1985 and over 800 financial institutions from all over the world have become its members since then. The Association is developing a general ISDA Master Agreement, which actually has become an industry standard that outlines the terms applied to transactions for OTC derivatives. The key areas of work of the association are reduction of counterparty risks, increase of transparency and development of infrastructure for OTC derivatives market, assurance of its stable and sustainable functioning.

Membership in the ISDA will allow the company to gain the access to best practices of conclusion and execution of transactions with OTC derivatives, improve the quality and reduce the risks of servicing corporate clients in the OTC derivatives market, raise awareness of all the regulatory changes. In addition, membership in the Association will strengthen the company's position in the counteragent sphere and let the company directly participate in the discussions of initiatives and changes in the derivatives regulation, along with the major market participants.

According to the amendments of the Terms and Conditions the Investment Firm publishes initial and threshold margin levels on its Website and/or in the Trade System in order to manage currency market risks.

You may find updated documents on KIT Finance Europe’s Website.

Should you have any queries please don’t hesitate to contact our Client Services by sending an email to clients@kfe.ee

December 24, 25, 26 – shorter working hours – non-trade orders in all currencies will be processed until 14:00 Moscow time;
December 25th – Christmas holiday, non-trade orders In CAD, USD, EUR, GBP will not be processed
December 26th – Christmas holiday, non-trade orders In CAD, EUR, GBP will not be processed
December 31st – shorter working hours – non-trade orders in all currencies will be processed until 12:00 Moscow time;
January 1– holiday;
January 2nd is the first working day.
Transactions in RUB and russian securities will not be processed from 01 till 11 January 2015.

Please consider this information while planning your work and investment decisions during this day.

Please note that you can use only direct bank details of JP Morgan and Nordea Bank to deposit funds from 02.01.2015 until 11.01.2015. You can find bank details by following link>>>

Further data on the trading hours of main exchanges may be found on our website in Holiday Calendar

Should you have any queries please address them to settlements@kfe.ee during the holiday period.

It would be appreciated if you provide us a new Power of Attorney (POA) in case the current one is close to its expiry date.

The current amendments to Terms and Conditions concern introduction of new products, such as Structural products and online services, which provide access to your investment account - Personal Account KIT Finance Europe.

We took into account increasing clients’ demand for Structural products and made the procedure of documentation arrangement more convenient. From now on it is enough to be the client of KIT Finance Europe and carry out investment activities in order to get access to structural products.

Online Personal Account will allow you to send any instructions to the Investment firm securely as well as to keep track of those instructions, thus avoiding email correspondence. You will also be able to inform us about any changes to your personal details or to any other information with no need to bother about paper documents. The current version of Personal Account is only the beginning of a huge project, which aims to make your experience with KIT Finance Europe and KIT Finance Group more comfortable and easy.

We kindly ask you to update your personal identification details until 31.12.2014 by submitting necessary ID forms online (in your Personal Account) and provide any proving paper documents when required.

Also, we have completely reconsidered requirements to documents and information, which must be presented by clients according to the KYC (Know Your Client) policy, and simplified their structure and form.

In addition, the changes also concern tariffs of the Investment Firm. We have added tariffs for trades executed on such markets as Singapore Exchange and Australian Securities Exchange, unified the approach to tariffing custodial transactions by simplifying the architecture of custodial fees, by introducing new and amending current fees.

You may find new documents here

In case you have any queries please don’t hesitate to contact client services department by sending an email to clients@kfe.ee

The U.S. stock exchanges will be closed. Depending on the contract, trading on the U.S. derivatives market will be either partially halted or closed.

Further data on the trading hours of main exchanges may be found on our website in Holiday Calendar.

Please consider this information while planning your work and investment decisions during this day.

During redesign process we completely reviewed the structure of the site, built information blocks corresponding to the new logic of the site, improved the visualization of the site content. We tried our best to create expedient, functional and useful tool for your convenience!

Works on debugging and enhancement of KIT Finance Europe’s site are still in progress, so please do not hesitate to e-mail us your proposals and feedback to clients@kfe.ee.

List of companies under sanctions:

• SBERBANK
• VTB BANK
• GAZPROMBANK
• VNESHECONOMBANK (VEB)
• ROSSELKHOZBANK
• OPK OBORONPROM
• UNITED AIRCRAFT CORPORATION
• URALVAGONZAVOD
• ROSNEFT
• TRANSNEFT
• GAZPROM NEFT

It is prohibited to trade (purchase, sell, exchange) or otherwise deal with securities (shares, bonds, etc.) and money-market instruments with a maturity exceeding:
90 days, issued after 1 August 2014 to 12. September 2014 or
30 days, issued after 12 September 2014
by those companies, their subsidiaries established outside the EU and those entities acting on behalf of abovementioned companies.

Before submitting an order for transactions make sure that respective securities are not subject to the Sanctions. KIT Finance Europe does not provide investment services in regard of the securities issued after 01/08/2014 by the abovementioned companies.

The Regulations are available at:

Council regulation (EU) No 833/2014 of 31 July 2014

Council regulation (EU) No 960/2014 of 8 September 2014

November 3rd – holidays in Russia. Transactions in RUB and operations with Russian securities will not be available, trades on MOEX will be settled as usual.

November 4th – holidays in Russia. Russian Exchanges will be closed, transactions in RUB and operations with Russian securities will not be processed.

Account statements will be sent as usual.

Should you have any queries please address them to settlements@kfe.ee during the holiday period.

Please consider this information while planning your work and investment decisions during these days.

Effective from the trade date 6 October 2014, most European markets will be harmonized to settle transactions in 2 business days (T+2). This change will impact the settlement of stocks, warrants, bonds, certificates and CFDs.

At this time, the following markets have confirmed 6 October 2014 as the migration date and therefore, trades executed prior to trading day 6 October will settle on T+3 while trades on and after trading day 6 October will settle T+2: Austria, Belgium, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Slovakia, Sweden, Switzerland, the United Kingdom.

The Spanish authorities have announced fixed income securities will migrate to T+2 for trades of 6 October; however, equities are not expected to migrate until the fourth quarter 2015.

The acceleration of the settlement cycle from three to two business days will contribute to the harmonization of settlement cycles throughout Europe and further reduce operational inefficiencies and risks for cross-border transactions. However, if you are trading in European settled securities and/or European stock options in the above mentioned markets, please note that this change will have an impact on the settlement date for trades and/or exercises executed on and after trading day 6 October 2014.

Please consider this information while planning your work and investment decisions during these days.

We constantly aim to improve our service and strenghten our risk management. Thus, we have prepared new edition of Terms and Conditions, which includes the folllowing amendments:

• the order of consideration of requests concerning the increase of marginal lending (item 8 of Terms and Conditions) was simplified clarifications we added in Section 5 of Terms and Conditions and were concerned with the provision of access to financial instrument transactions depending on experience and qualification of the client. Similarly, clarifications we added
• to the restriction of access to the sale of option contracts
• the tariff policy of the Investment Firm (item 14 of Terms and Conditions) was amended.

In the course of new tariff policy, starting from the 1st July 2014 a new line of standard tariff rates is entered for custodial services as well as for transactions with equities and other financial instruments.

In particular, KIT-General becomes the standard tariff of the Investment Firm. In case of provision of services not specified in Your tariff, commission of the Investment Firm as well as payment of expenses will be calculated at the rates of KIT-General, if other is not explicitly stated in the agreement, Terms of Conditions or Your tariffs.

Please pay attention, however, that we are always glad to prepare for You the individual tariff proposal, depending on Your trade profile and investment purposes!

Please be informed about brokerage and custodial tariffs for electronic as well as voice execution of orders and other transactions on global markets.

12th , 13th June – holidays in Russia. Non-trade orders (money instructions, only in RUB) will not be processed; Custody instructions with Russian securities will not be processed.

Account statements will be sent as usual.

Please consider this information while planning your work and investment decisions during these days.