Individual client accounts with international clearing houses

Information

Conditions for «back-to-back» operations

An individual account with Euroclear Bank S.A./Clearstream Banking enables the client to execute same-day back-to-back transactions («back-to-backtrades» in which securities are sold and repurchased in the same amount on the same day).

Such transactions do not require foreign currency or depot accounts for each trade (purchase or sale). Clients may use proceeds from a back-to-back transaction.

Transaction terms:

Parties in a back-to-back transaction shall hold accounts in the same international clearing house (either Euroclear Bank

or Clearstream Banking) when executing transactions

Such transactions shall be carried out as part of a back-to-back

transaction only, i.e. buying and selling securities of one type during a single transaction day The order procedure and form (including via SWIFT) remain unchanged except for account numbers the number of the client s individual account with an international clearing house shall be provided

Customer money orders (for companies that hold current accounts

with the bank) in foreign currency both in and outside Russia as payment for goods supplied under import contracts as well as for other export-import purposes, for services or intellectual property

Credit letters involving a foreign currency amount paid against

commercial or financial documents or warrants specified in the money order that the recipient of the funds must provide

When sending VTB trade instructions regarding the aforementioned transactions via SWIFT, the code PREV// and a reference to the related instruction shall be stated in box 20С of the MT 540, 541, 542, and 543 forms

The transaction type must be included when using other ways of instructing VTB (TELEX, printed instructions by courier)