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INVESTMENT RECOMMENDATIONS

The historic Investment Recommendations on this page may materially differ from any previous Investment Recommendation for the same financial instrument or issuer by virtue of being provided in unique circumstances, by different authors to different market participants at differing times and differing conditions

Name	Authors	Issuer	Asset class	ISIN	Directionality	Underlying price	Date	Medium used	Expected update frequency	Recommendation type	Job title	Target price/spread	Underlying Benchmark and Relevant Metric	Validity period
Mosenergo, Hold, #55388	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Hold	2.22	07/03/2020 11:06:00	E-mail	None Planned	Independent Research	Research Analyst	2.16
Enel Russia, Buy, #55388	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Buy	1.00	07/03/2020 11:06:00	E-mail	None Planned	Independent Research	Research Analyst	1.20
OGK2, Hold, #55388	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Hold	0.79	07/03/2020 11:06:00	E-mail	None Planned	Independent Research	Research Analyst	0.8000
Unipro, Hold, #55388	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	Hold	2.79	07/03/2020 11:06:00	E-mail	None Planned	Independent Research	Research Analyst	2.80
TGK1, Hold, #55388	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Hold	0.013	07/03/2020 11:06:00	E-mail	None Planned	Independent Research	Research Analyst	0.0140
InterRAO, Buy, #55388	Vladimir Sklyar	InterRAO	Equity	RU000A0JPNM1, IRAO RX	Buy	4.85	07/03/2020 11:06:00	E-mail	None Planned	Independent Research	Research Analyst	10.00
FSK, Buy, #55388	Vladimir Sklyar	FSK	Equity	RU000A0JPNN9, FEES RX	Buy	0.19	07/03/2020 11:06:00	E-mail	None Planned	Independent Research	Research Analyst	0.2300
RusHydro, Buy, #55388	Vladimir Sklyar	RusHydro	Equity	US7821834048, HYDR LI	Buy	0.98	07/03/2020 11:06:00	E-mail	None Planned	Independent Research	Research Analyst	1.27
CCC, Hold, #55807	Maria Kolbina	CCC	Equity	PLCCC0000016, CCC PW	Hold	59.00	07/02/2020 21:35:00	E-mail	None Planned	Independent Research	Research Analyst	70.00
Dino Polska, Hold, #55773	Maria Kolbina	Dino Polska	Equity	PLDINPL00011, DNP PW	Hold	198.1	06/30/2020 19:13:00	E-mail	None Planned	Independent Research	Research Analyst	230
Yandex, Buy, #55666	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Buy	50.30	06/25/2020 15:20:00	E-mail	None Planned	Independent Research	Research Analyst	62.00
Gazprom, Hold, #55656	Dmitry Loukashov	Gazprom	Equity	US3682872078, OGZD LI	Hold	5.52	06/23/2020 19:52:00	E-mail	None Planned	Independent Research	Research Analyst	6.00
Transneft, pref. - Long Trade Ideas Portfolio Inclusion 2020-06-19 12:00	Ilya Piterskiy	Transneft	Equity	RU0009091573	Include to Long Trade Ideas portfolio	133,550	06/19/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		90 calendar days
Gazprom, ord. - Long Trade Ideas Portfolio Inclusion 2020-06-19 12:00	Ilya Piterskiy	Gazprom	Equity	RU0007661625	Include to Long Trade Ideas portfolio	2.76	06/19/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		90 calendar days
Tatneft, Hold, #55332	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Hold	8.02	06/08/2020 11:45:00	E-mail	None Planned	Independent Research	Research Analyst	9.00
NLMK, Hold, #54582	Dmitry Glushakov	NLMK	Equity	RU0009046452, NLMK RX	Hold	128.3	05/06/2020 13:02:00	E-mail	None Planned	Independent Research	Research Analyst	125.00
MMK, Buy, #54526	Dmitry Glushakov	MMK	Equity	RU0009084396, MAGN RX	Buy	41.67	04/29/2020 21:20:00	E-mail	None Planned	Independent Research	Research Analyst	62.00
Severstal, Buy, #54404	Dmitry Glushakov	Severstal	Equity	RU0009046510, CHMF RX	Buy	862.4	04/27/2020 14:04:00	E-mail	None Planned	Independent Research	Research Analyst	1,220
Surgutneftegas, Hold, #52840	Dmitry Loukashov	Surgutneftegas	Equity	RU0009029524, SNGSP RX	Hold	0.55	02/11/2020 12:33:00	E-mail	None Planned	Independent Research	Research Analyst	0.5800
Surgutneftegas, Hold, #52104	Dmitry Loukashov	Surgutneftegas	Equity	RU0009029524, SNGSP RX	Hold	0.61	01/14/2020 19:43:00	E-mail	None Planned	Independent Research	Research Analyst	0.6200
Surgutneftegas, Hold, #50502	Dmitry Loukashov	Surgutneftegas	Equity	RU0009029524, SNGSP RX	Hold	0.57	10/04/2019 12:17:00	E-mail	None Planned	Independent Research	Research Analyst	0.5900
Surgutneftegas, Buy, #49841	Dmitry Loukashov	Surgutneftegas	Equity	RU0009029524, SNGSP RX	Buy	0.48	08/20/2019 19:28:00	E-mail	None Planned	Independent Research	Research Analyst	0.5600
NLMK, Hold, #49360	Dmitry Glushakov	NLMK	Equity	RU0009046452, NLMK RX	Hold	154.2	07/29/2019 13:49:00	E-mail	None Planned	Independent Research	Research Analyst	152
Tatneft, Hold, #48463	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Hold	9.27	06/05/2019 19:12:00	E-mail	None Planned	Independent Research	Research Analyst	8.50
Surgutneftegas, Hold, #48463	Dmitry Loukashov	Surgutneftegas	Equity	RU0009029524, SNGSP RX	Hold	0.62	06/05/2019 19:12:00	E-mail	None Planned	Independent Research	Research Analyst	0.5600
Tatneft, Buy, #48354	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Buy	8.89	05/30/2019 19:14:00	E-mail	None Planned	Independent Research	Research Analyst	10.00
MMK, Buy, #48325	Dmitry Glushakov	MMK	Equity	RU0009084396, MAGN RX	Buy	46.65	06/18/2019 17:46:00	E-mail	None Planned	Independent Research	Research Analyst	60.00
Polyus, Buy, #48020	Dmitry Glushakov	Polyus	Equity	RU000A0JNAA8, PLZL RX	Buy	5,001	05/15/2019 14:20:00	E-mail	None Planned	Independent Research	Research Analyst	6,800
Tatneft, Hold, #47274	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Hold	8.36	04/08/2019 11:04:00	E-mail	None Planned	Independent Research	Research Analyst	8.50
Surgutneftegas, Hold, #45695	Dmitry Loukashov	Surgutneftegas	Equity	RU0009029524, SNGSP RX	Hold	0.58	12/21/2018 13:32:00	E-mail	None Planned	Independent Research	Research Analyst	0.5500
Tatneft, Hold, #45358	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Hold	7.60	11/28/2018 14:53:00	E-mail	None Planned	Independent Research	Research Analyst	8.20
Tatneft, Buy, #45159	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Buy	8.14	11/13/2018 12:27:00	E-mail	None Planned	Independent Research	Research Analyst	12.80
Surgutneftegas, Buy, #45159	Dmitry Loukashov	Surgutneftegas	Equity	RU0009029524, SNGSP RX	Buy	0.56	11/13/2018 12:27:00	E-mail	None Planned	Independent Research	Research Analyst	0.6900
MMK, Buy, #44739	Dmitry Glushakov	MMK	Equity	RU0009084396, MAGN RX	Buy	47.94	10/16/2018 19:59:00	E-mail	None Planned	Independent Research	Research Analyst	62.32
Tatneft, Buy, #44338	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Buy	8.67	10/08/2018 12:37:00	E-mail	None Planned	Independent Research	Research Analyst	15.40
Surgutneftegas, Buy, #44337	Dmitry Loukashov	Surgutneftegas	Equity	RU0009029524, SNGSP RX	Buy	0.56	10/08/2018 12:40:00	E-mail	None Planned	Independent Research	Research Analyst	0.7400
Rosseti, Sell, #44108	Vladimir Sklyar	Rosseti	Equity	RU000A0JPVK8, RSTIP RX	Sell	1.22	08/29/2018 20:51:00	E-mail	None Planned	Independent Research	Research Analyst	0.2600
Norilsk Nickel, Buy, #44043	Dmitry Glushakov	Norilsk Nickel	Equity	RU0007288411, GMKN RX	Buy	11,220	09/03/2018 12:10:00	E-mail	None Planned	Independent Research	Research Analyst	14,200
MMK, Buy, #43744	Dmitry Glushakov	MMK	Equity	RU0009084396, MAGN RX	Buy	45.65	08/02/2018 22:03:00	E-mail	None Planned	Independent Research	Research Analyst	58.11
PhosAgro, Buy, #42655	Elena Sakhnova	PhosAgro	Equity	RU000A0JRKT8, PHOR RX	Buy	37.78	05/23/2018 17:36:00	E-mail	None Planned	Independent Research	Research Analyst	51.00
Polyus, Buy, #42079	Dmitry Glushakov	Polyus	Equity	RU000A0JNAA8, PLZL RX	Buy	4,437	07/30/2018 12:19:00	E-mail	None Planned	Independent Research	Research Analyst	6,450
Tatneft, Buy, #41991	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Buy	7.15	03/30/2018 12:26:00	E-mail	None Planned	Independent Research	Research Analyst	9.00
Enel Russia, Buy, #41735	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Buy	1.51	04/09/2018 14:19:00	E-mail	None Planned	Independent Research	Research Analyst	2.10
OGK2, Buy, #41735	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Buy	0.46	04/09/2018 14:19:00	E-mail	None Planned	Independent Research	Research Analyst	0.6400
Unipro, Buy, #41735	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	Buy	2.90	04/09/2018 14:19:00	E-mail	None Planned	Independent Research	Research Analyst	3.46
TGK1, Hold, #41735	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Hold	0.011	04/09/2018 14:19:00	E-mail	None Planned	Independent Research	Research Analyst	0.0130
InterRAO, Buy, #41735	Vladimir Sklyar	InterRAO	Equity	RU000A0JPNM1, IRAO RX	Buy	3.89	04/09/2018 14:19:00	E-mail	None Planned	Independent Research	Research Analyst	7.80
MMK, Buy, #41656	Dmitry Glushakov	MMK	Equity	RU0009084396, MAGN RX	Buy	46.45	03/12/2018 20:33:00	E-mail	None Planned	Independent Research	Research Analyst	53.92
Polyus, Buy, #41442	Dmitry Glushakov	Polyus	Equity	RU000A0JNAA8, PLZL RX	Buy	4,467	02/16/2018 12:13:00	E-mail	None Planned	Independent Research	Research Analyst	6,320
Enel Russia, U/R, #40861	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	U/R	1.44	12/15/2017 22:40:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
OGK2, U/R, #40861	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	U/R	0.48	12/15/2017 22:40:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Unipro, U/R, #40861	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	U/R	2.65	12/15/2017 22:40:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Rosseti, U/R, #40861	Vladimir Sklyar	Rosseti	Equity	RU000A0JPVK8, RSTIP RX	U/R	1.67	12/15/2017 22:40:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Surgutneftegas, Buy, #40696	Dmitry Loukashov	Surgutneftegas	Equity	RU0009029524, SNGSP RX	Buy	0.53	02/19/2018 11:18:00	E-mail	None Planned	Independent Research	Research Analyst	0.6600
Tatneft, Hold, #40397	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Hold	6.06	11/07/2017 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	6.70
Magnit, Buy, #40203	Maria Kolbina	Magnit	Equity	RU000A0JKQU8, MGNT RX	Buy	9,445	10/20/2017 20:16:00	E-mail	None Planned	Independent Research	Research Analyst	11,600
Tatneft, Buy, #40146	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Buy	5.47	10/17/2017 20:45:00	E-mail	None Planned	Independent Research	Research Analyst	6.60
Surgutneftegas, Buy, #40146	Dmitry Loukashov	Surgutneftegas	Equity	RU0009029524, SNGSP RX	Buy	0.52	10/17/2017 20:45:00	E-mail	None Planned	Independent Research	Research Analyst	0.7200
LSR Group, Buy, #39687	Maria Kolbina	LSR Group	Equity	RU000A0JPFP0, LSRG RX	Buy	803.0	09/13/2017 13:01:00	E-mail	None Planned	Independent Research	Research Analyst	960
MMK, Buy, #39485	Dmitry Glushakov	MMK	Equity	RU0009084396, MAGN RX	Buy	42.09	09/19/2017 11:17:00	E-mail	None Planned	Independent Research	Research Analyst	55.54
Magnit, Buy, #39378	Maria Kolbina	Magnit	Equity	RU000A0JKQU8, MGNT RX	Buy	10,544	09/12/2017 19:57:00	E-mail	None Planned	Independent Research	Research Analyst	13,300
Tatneft, Buy, #38700	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Buy	4.64	06/28/2017 11:51:00	E-mail	None Planned	Independent Research	Research Analyst	5.90
Surgutneftegas, Buy, #38553	Dmitry Loukashov	Surgutneftegas	Equity	RU0009029524, SNGSP RX	Buy	0.53	05/31/2017 22:27:00	E-mail	None Planned	Independent Research	Research Analyst	0.6500
Magnit, Buy, #38246	Maria Kolbina	Magnit	Equity	RU000A0JKQU8, MGNT RX	Buy	8,821	05/03/2017 19:57:00	E-mail	None Planned	Independent Research	Research Analyst	11,750
Tatneft, Buy, #38232	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Buy	3.71	04/27/2017 21:07:00	E-mail	None Planned	Independent Research	Research Analyst	5.00
Rosseti, Sell, #37897	Mikhail Rasstrigin	Rosseti	Equity	RU000A0JPVK8, RSTIP RX	Sell	1.96	04/03/2017 12:09:00	E-mail	None Planned	Independent Research	Research Analyst	0.7500
Tatneft, Hold, #37456	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Hold	3.69	03/23/2017 18:41:00	E-mail	None Planned	Independent Research	Research Analyst	3.60
Surgutneftegas, Buy, #37456	Dmitry Loukashov	Surgutneftegas	Equity	RU0009029524, SNGSP RX	Buy	0.58	03/23/2017 18:41:00	E-mail	None Planned	Independent Research	Research Analyst	0.7200
Magnit, Buy, #37163	Maria Kolbina	Magnit	Equity	RU000A0JKQU8, MGNT RX	Buy	10,020	01/27/2017 22:24:00	E-mail	None Planned	Independent Research	Research Analyst	12,400
Tatneft, Hold, #36900	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Hold	3.63	12/26/2016 18:08:00	E-mail	None Planned	Independent Research	Research Analyst	3.70
Magnit, Buy, #36819	Maria Kolbina	Magnit	Equity	RU000A0JKQU8, MGNT RX	Buy	10,602	12/16/2016 11:52:00	E-mail	None Planned	Independent Research	Research Analyst	13,400
PIK Group, U/R, #36276	Maria Kolbina	PIK Group	Equity	US69338N2062, PIK LI	U/R	4.54	10/31/2016 21:54:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
LSR Group, Buy, #35622	Maria Kolbina	LSR Group	Equity	RU000A0JPFP0, LSRG RX	Buy	896.0	09/09/2016 17:08:00	E-mail	None Planned	Independent Research	Research Analyst	1,150
Tatneft, Buy, #35468	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Buy	2.77	09/27/2016 13:26:00	E-mail	None Planned	Independent Research	Research Analyst	4.30
Magnit, Buy, #35047	Maria Kolbina	Magnit	Equity	RU000A0JKQU8, MGNT RX	Buy	9,365	07/25/2016 17:19:00	E-mail	None Planned	Independent Research	Research Analyst	13,300
Lenenergo, U/R, #34933	Mikhail Rasstrigin	Lenenergo	Equity	RU0009092134, LSNGP RX	U/R	22.35	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
MOESK, U/R, #34933	Mikhail Rasstrigin	MOESK	Equity	RU000A0ET7Y7, MSRS RX	U/R	0.89	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
MRSK Center and Volga, U/R, #34933	Mikhail Rasstrigin	MRSK Center and Volga	Equity	RU000A0JPN96, MRKP RX	U/R	0.080	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
MRSK North West, U/R, #34933	Mikhail Rasstrigin	MRSK North West	Equity	RU000A0JPPB9, MRKZ RX	U/R	0.046	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
MRSK Siberia, U/R, #34933	Mikhail Rasstrigin	MRSK Siberia	Equity	RU000A0JPPF0, MRKS RX	U/R	0.051	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
MRSK South, U/R, #34933	Mikhail Rasstrigin	MRSK South	Equity	RU000A0JPPG8, MRKY RX	U/R	0.038	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
MRSK Center, U/R, #34933	Mikhail Rasstrigin	MRSK Center	Equity	RU000A0JPPL8, MRKC RX	U/R	0.25	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
MRSK Volga, U/R, #34933	Mikhail Rasstrigin	MRSK Volga	Equity	RU000A0JPPN4, MRKV RX	U/R	0.035	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
MRSK North Caucasus, U/R, #34933	Mikhail Rasstrigin	MRSK North Caucasus	Equity	RU000A0JPPQ7, MRKK RX	U/R	14.10	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
MRSK Urals, U/R, #34933	Mikhail Rasstrigin	MRSK Urals	Equity	RU000A0JPPT1, MRKU RX	U/R	0.13	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
PIK Group, Sell, #34686	Maria Kolbina	PIK Group	Equity	US69338N2062, PIK LI	Sell	3.77	07/01/2016 21:42:00	E-mail	None Planned	Independent Research	Research Analyst	2.50
Tatneft, Hold, #33874	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Hold	3.00	04/27/2016 15:24:00	E-mail	None Planned	Independent Research	Research Analyst	3.40
Magnit, Buy, #33858	Maria Kolbina	Magnit	Equity	RU000A0JKQU8, MGNT RX	Buy	10,320	04/11/2016 17:06:00	E-mail	None Planned	Independent Research	Research Analyst	14,800
Tatneft, Hold, #32566	Dmitry Loukashov	Tatneft	Equity	RU0006944147, TATNP RX	Hold	2.39	02/01/2016 11:08:00	E-mail	None Planned	Independent Research	Research Analyst	2.50
NCSP, Hold, #31204	Elena Sakhnova	NCSP	Equity	RU0009084446, NMTP RX	Hold	4.29	02/01/2016 11:07:00	E-mail	None Planned	Independent Research	Research Analyst	0.1000
Surgutneftegas, Hold, #55390	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Hold	0.57	06/16/2020 17:19:00	E-mail	None Planned	Independent Research	Research Analyst	0.6300
Detsky Mir, Buy, #55500	Maria Kolbina	Detsky Mir	Equity	RU000A0JSQ90, DSKY RX	Buy	97.90	06/15/2020 19:58:00	E-mail	None Planned	Independent Research	Research Analyst	120.00
MLP Care , Hold, #55307	Maria Kolbina	MLP Care	Equity	TREMLPC00021, MPARK TI	Hold	16.93	06/11/2020 22:07:00	E-mail	None Planned	Independent Research	Research Analyst	20.00
MD Medical Group, Buy, #55307	Maria Kolbina	MD Medical Group	Equity	US55279C2008, MDMG LI	Buy	4.40	06/11/2020 22:07:00	E-mail	None Planned	Independent Research	Research Analyst	6.50
X5 Retail Group, Hold, #55455	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Hold	31.90	06/11/2020 18:56:00	E-mail	None Planned	Independent Research	Research Analyst	37.00
Dogus Otomotiv, Hold, #55394	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	Hold	12.15	06/11/2020 17:37:00	E-mail	None Planned	Independent Research	Research Analyst	14.00
Petropavlovsk, Buy, #55424	Dmitry Glushakov	Petropavlovsk	Equity	GB0031544546, POG LN	Buy	25.00	04/27/2020 11:54:00	E-mail	None Planned	Independent Research	Research Analyst	52.00
Highland Gold, Buy, #55424	Dmitry Glushakov	Highland Gold	Equity	GB0032360173, HGM LN	Buy	236.4	04/27/2020 11:54:00	E-mail	None Planned	Independent Research	Research Analyst	350
Polymetal International, Buy, #55424	Dmitry Glushakov	Polymetal International	Equity	JE00B6T5S470, POLY LN	Buy	1,700	04/27/2020 11:54:00	E-mail	None Planned	Independent Research	Research Analyst	2,260
Polyus, Buy, #55424	Dmitry Glushakov	Polyus	Equity	US73181M1172, PLZL LI	Buy	80.65	04/27/2020 11:54:00	E-mail	None Planned	Independent Research	Research Analyst	100.00
Alrosa, Hold, #55425	Dmitry Glushakov	Alrosa	Equity	RU0007252813, ALRS RX	Hold	65.05	06/09/2020 11:58:00	E-mail	None Planned	Independent Research	Research Analyst	70.00
Bank St Petersburg, Buy, #55379	Mikhail Shlemov	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Buy	43.09	06/10/2020 18:05:00	E-mail	None Planned	Independent Research	Research Analyst	66.00
Global Ports, Buy, #55414	Elena Sakhnova	Global Ports	Equity	US37951Q2021, GLPR LI	Buy	2.80	06/10/2020 15:49:00	E-mail	None Planned	Independent Research	Research Analyst	5.00
Ford Otosan, Hold, #55366	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Hold	68.25	06/09/2020 17:08:00	E-mail	None Planned	Independent Research	Research Analyst	74.00
Aeroflot, Hold, #55367	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Hold	95.70	06/09/2020 12:20:00	E-mail	None Planned	Independent Research	Research Analyst	110.00
Alrosa, Hold, #55304	Dmitry Glushakov	Alrosa	Equity	RU0007252813, ALRS RX	Hold	65.05	06/09/2020 11:58:00	E-mail	None Planned	Independent Research	Research Analyst	70.00
Tatneft, Buy, #55332	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Buy	8.30	06/08/2020 11:45:00	E-mail	None Planned	Independent Research	Research Analyst	10.20
Halyk Bank, Buy, #55303	Mikhail Shlemov	Halyk Bank	Equity	US46627J3023, HSBK LI	Buy	11.85	06/05/2020 22:20:00	E-mail	None Planned	Independent Research	Research Analyst	24.00
RusHydro, Buy, #55267	Vladimir Sklyar	RusHydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.71	06/05/2020 14:40:00	E-mail	None Planned	Independent Research	Research Analyst	0.8300
MOL, Hold, #55273	Dmitry Loukashov	MOL	Equity	HU0000153937, MOL HB	Hold	1,916	06/04/2020 11:39:00	E-mail	None Planned	Independent Research	Research Analyst	2,100
Lukoil, Hold, #55272	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	78.64	06/03/2020 22:58:00	E-mail	None Planned	Independent Research	Research Analyst	84.00
HMS, Buy, #55268	Vladimir Bespalov	HMS	Equity	US40425X4079, HMSG LI	Buy	3.60	06/03/2020 19:28:00	E-mail	None Planned	Independent Research	Research Analyst	5.00
Dogus Otomotiv, U/R, #55212	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	U/R	10.90	06/02/2020 15:06:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Turkish Airlines, Buy, #55182	Elena Sakhnova	Turkish Airlines	Equity	TRATHYAO91M5, THYAO TI	Buy	12.60	06/01/2020 15:41:00	E-mail	None Planned	Independent Research	Research Analyst	17.00
CD PROJEKT S.A., Hold, #55146	Anna Kazaryan	CD PROJEKT S.A.	Equity	PLOPTTC00011, CDR PW	Hold	399.0	05/29/2020 21:40:00	E-mail	None Planned	Independent Research	Research Analyst	435
BGEO Group, Buy, #55044	Mikhail Shlemov	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Buy	952.0	05/29/2020 15:03:00	E-mail	None Planned	Independent Research	Research Analyst	1,700
TBC Bank Group, Buy, #55044	Mikhail Shlemov	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Buy	823.0	05/29/2020 15:03:00	E-mail	None Planned	Independent Research	Research Analyst	1,400
Sberbank, Hold, #36803	Jason Hurwitz	Sberbank	Equity	RU0009029540, SBER RX	Hold	176.9	12/15/2016 00:33:00	E-mail	None Planned	Independent Research	Research Analyst	190
Transneft, U/R, #37150	Alexey Zabotkin	Transneft	Equity	RU0009091573, TRNFP RX	U/R	3,525	01/27/2017 00:08:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Sberbank, Buy, #37555	Jason Hurwitz	Sberbank	Equity	RU0009029540, SBER RX	Buy	160.0	03/03/2017 02:55:00	E-mail	None Planned	Independent Research	Research Analyst	200
Detsky Mir, Hold, #54576	Maria Kolbina	Detsky Mir	Equity	RU000A0JSQ90, DSKY RX	Hold	91.24	05/01/2020 00:52:00	E-mail	None Planned	Independent Research	Research Analyst	100.00
Qiwi, U/R, #39083	Vladimir Bespalov	Qiwi	Equity	US74735M1080, QIWI US	U/R	20.55	07/18/2017 18:50:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Georgia Healthcare Group, U/R, #40424	Maria Kolbina	Georgia Healthcare Group	Equity	GB00BYSS4K11, GHG LN	U/R	346.0	11/08/2017 20:13:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
HMS, U/R, #42319	Vladimir Bespalov	HMS	Equity	US40425X4079, HMSG LI	U/R	10.40	04/25/2018 14:30:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Luxoft, U/R, #39409	Vladimir Bespalov	Luxoft	Equity	VGG572791041, LXFT US	U/R	60.80	08/11/2017 21:09:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Luxoft, Buy, #39434	Vladimir Bespalov	Luxoft	Equity	VGG572791041, LXFT US	Buy	45.70	08/15/2017 14:35:00	E-mail	None Planned	Independent Research	Research Analyst	65.00
KMG EP, U/R, #41154	Ekaterina Rodina	KMG EP	Equity	US48666V2043, KMG LI	U/R	13.70	01/25/2018 18:40:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Luxoft, Hold, #41423	Vladimir Bespalov	Luxoft	Equity	VGG572791041, LXFT US	Hold	46.25	02/15/2018 18:52:00	E-mail	None Planned	Independent Research	Research Analyst	50.00
Luxoft, Buy, #42028	Vladimir Bespalov	Luxoft	Equity	VGG572791041, LXFT US	Buy	40.00	04/03/2018 19:35:00	E-mail	None Planned	Independent Research	Research Analyst	50.00
Luxoft, Hold, #44317	Vladimir Bespalov	Luxoft	Equity	VGG572791041, LXFT US	Hold	46.90	09/13/2018 17:25:00	E-mail	None Planned	Independent Research	Research Analyst	50.00
Luxoft, Buy, #45227	Vladimir Bespalov	Luxoft	Equity	VGG572791041, LXFT US	Buy	33.30	11/16/2018 14:54:00	E-mail	None Planned	Independent Research	Research Analyst	50.00
Luxoft, Hold, #45768	Vladimir Bespalov	Luxoft	Equity	VGG572791041, LXFT US	Hold	57.32	01/09/2019 19:34:00	E-mail	None Planned	Independent Research	Research Analyst	59.00
Detsky Mir, Buy, #46665	Maria Kolbina	Detsky Mir	Equity	RU000A0JSQ90, DSKY RX	Buy	88.92	03/01/2019 21:18:00	E-mail	None Planned	Independent Research	Research Analyst	120.00
DP Eurasia, Buy, #46762	Maria Kolbina	DP Eurasia	Equity	NL0012328801, DPEU LN	Buy	93.00	03/07/2019 16:34:00	E-mail	None Planned	Independent Research	Research Analyst	130.00
El Sewedy Electric, Hold, #46476	Vladimir Sklyar	El Sewedy Electric	Equity	EGS3G0Z1C014, SWDY EC	Hold	16.21	03/27/2019 14:59:00	E-mail	None Planned	Independent Research	Research Analyst	17.40
DP Eurasia, Buy, #47239	Maria Kolbina	DP Eurasia	Equity	NL0012328801, DPEU LN	Buy	84.20	04/03/2019 12:05:00	E-mail	None Planned	Independent Research	Research Analyst	120.00
El Sewedy Electric, Hold, #48282	Vladimir Sklyar	El Sewedy Electric	Equity	EGS3G0Z1C014, SWDY EC	Hold	14.50	05/30/2019 11:59:00	E-mail	None Planned	Independent Research	Research Analyst	16.00
DP Eurasia, Hold, #48622	Maria Kolbina	DP Eurasia	Equity	NL0012328801, DPEU LN	Hold	90.00	06/13/2019 19:36:00	E-mail	None Planned	Independent Research	Research Analyst	100.00
EVRAZ plc, Hold, #48664	Dmitry Glushakov	EVRAZ plc	Equity	GB00B71N6K86, EVR LN	Hold	696.0	06/18/2019 11:55:00	E-mail	None Planned	Independent Research	Research Analyst	670
ICL Group, Buy, #49480	Elena Sakhnova	ICL Group	Equity	IL0002810146, ICL IT	Buy	1,899	08/02/2019 16:15:00	E-mail	None Planned	Independent Research	Research Analyst	2,350
Enel Russia, Buy, #49193	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Buy	0.98	08/05/2019 10:38:00	E-mail	None Planned	Independent Research	Research Analyst	1.15
Yandex, Buy, #54825	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Buy	40.43	05/29/2020 11:52:00	E-mail	None Planned	Independent Research	Research Analyst	53.00
Aeroflot, Buy, #55104	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Buy	77.90	05/28/2020 16:03:00	E-mail	None Planned	Independent Research	Research Analyst	110.00
Lukoil, Hold, #45695	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	72.82	12/21/2018 13:32:00	E-mail	None Planned	Independent Research	Research Analyst	71.00
KMG EP, Hold, #37814	Alexander Donskoy	KMG EP	Equity	US48666V2043, KMG LI	Hold	10.30	03/27/2017 22:13:00	E-mail	None Planned	Independent Research	Research Analyst	10.70
Luxoft, Buy, #33138	Vladimir Bespalov	Luxoft	Equity	VGG572791041, LXFT US	Buy	57.84	02/08/2016 20:54:00	E-mail	None Planned	Independent Research	Research Analyst	75.00
KMG EP, Hold, #36101	Alexander Donskoy	KMG EP	Equity	US48666V2043, KMG LI	Hold	9.90	02/02/2017 14:30:00	E-mail	None Planned	Independent Research	Research Analyst	11.00
O'Key, Sell, #39378	Maria Kolbina	O'Key	Equity	US6708662019, OKEY LI	Sell	2.10	09/12/2017 19:57:00	E-mail	None Planned	Independent Research	Research Analyst	1.80
Luxoft, Buy, #39719	Vladimir Bespalov	Luxoft	Equity	VGG572791041, LXFT US	Buy	57.85	01/25/2018 20:20:00	E-mail	None Planned	Independent Research	Research Analyst	75.00
Turkiye Vakiflar Bankasi, Buy, #45753	Akin Tuzun	Turkiye Vakiflar Bankasi	Equity	TREVKFB00019, VAKBN TI	Buy	4.86	02/19/2019 16:11:00	E-mail	None Planned	Independent Research	Research Analyst	7.00
Georgia Healthcare Group, Buy, #53197	Maria Kolbina	Georgia Healthcare Group	Equity	GB00BYSS4K11, GHG LN	Buy	122.0	02/27/2020 21:43:00	E-mail	None Planned	Independent Research	Research Analyst	150
DP Eurasia, Hold, #44293	Maria Kolbina	DP Eurasia	Equity	NL0012328801, DPEU LN	Hold	85.00	09/11/2018 20:51:00	E-mail	None Planned	Independent Research	Research Analyst	100.00
DP Eurasia, Buy, #42071	Maria Kolbina	DP Eurasia	Equity	NL0012328801, DPEU LN	Buy	162.0	05/31/2018 11:18:00	E-mail	None Planned	Independent Research	Research Analyst	220
Detsky Mir, Buy, #38508	Maria Kolbina	Detsky Mir	Equity	RU000A0JSQ90, DSKY RX	Buy	103.0	06/16/2017 20:52:00	E-mail	None Planned	Independent Research	Research Analyst	130.00
Georgia Healthcare Group, U/R, #52064	Maria Kolbina	Georgia Healthcare Group	Equity	GB00BYSS4K11, GHG LN	U/R	164.0	12/18/2019 15:35:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Georgia Healthcare Group, Hold, #44257	Maria Kolbina	Georgia Healthcare Group	Equity	GB00BYSS4K11, GHG LN	Hold	229.0	09/07/2018 18:18:00	E-mail	None Planned	Independent Research	Research Analyst	260
Georgia Healthcare Group, Hold, #43456	Maria Kolbina	Georgia Healthcare Group	Equity	GB00BYSS4K11, GHG LN	Hold	262.0	07/18/2018 12:00:00	E-mail	None Planned	Independent Research	Research Analyst	310
TBC Bank Group, Buy, #38883	Jason Hurwitz	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Buy	1,552	06/29/2017 22:02:00	E-mail	None Planned	Independent Research	Research Analyst	1,900
Lenta, Hold, #46492	Maria Kolbina	Lenta	Equity	US52634T2006, LNTA LI	Hold	3.21	02/22/2019 19:49:00	E-mail	None Planned	Independent Research	Research Analyst	3.70
Lenta, Buy, #44936	Maria Kolbina	Lenta	Equity	US52634T2006, LNTA LI	Buy	3.59	10/29/2018 19:49:00	E-mail	None Planned	Independent Research	Research Analyst	5.00
Lenta, Buy, #41159	Maria Kolbina	Lenta	Equity	US52634T2006, LNTA LI	Buy	7.15	01/25/2018 19:26:00	E-mail	None Planned	Independent Research	Research Analyst	8.70
Lenta, Buy, #39110	Maria Kolbina	Lenta	Equity	US52634T2006, LNTA LI	Buy	6.19	07/20/2017 19:56:00	E-mail	None Planned	Independent Research	Research Analyst	7.70
Lenta, Hold, #35009	Maria Kolbina	Lenta	Equity	US52634T2006, LNTA LI	Hold	7.59	07/21/2016 18:44:00	E-mail	None Planned	Independent Research	Research Analyst	8.50
Lenta, Buy, #33281	Maria Kolbina	Lenta	Equity	US52634T2006, LNTA LI	Buy	5.31	02/18/2016 19:04:00	E-mail	None Planned	Independent Research	Research Analyst	8.50
Luxoft, Buy, #43932	Vladimir Bespalov	Luxoft	Equity	VGG572791041, LXFT US	Buy	40.90	08/16/2018 15:25:00	E-mail	None Planned	Independent Research	Research Analyst	50.00
Luxoft, Buy, #42679	Vladimir Bespalov	Luxoft	Equity	VGG572791041, LXFT US	Buy	32.65	05/25/2018 17:29:00	E-mail	None Planned	Independent Research	Research Analyst	43.00
Luxoft, Buy, #38486	Vladimir Bespalov	Luxoft	Equity	VGG572791041, LXFT US	Buy	63.25	05/25/2017 14:31:00	E-mail	None Planned	Independent Research	Research Analyst	80.00
Luxoft, Buy, #34284	Vladimir Bespalov	Luxoft	Equity	VGG572791041, LXFT US	Buy	61.61	05/17/2016 15:13:00	E-mail	None Planned	Independent Research	Research Analyst	75.00
Luxoft, Buy, #33254	Vladimir Bespalov	Luxoft	Equity	VGG572791041, LXFT US	Buy	49.94	02/18/2016 20:22:00	E-mail	None Planned	Independent Research	Research Analyst	72.00
ERDEMIR, U/R, #38484	Dmitry Glushakov	ERDEMIR	Equity	TRAEREGL91G3, EREGL TI	U/R	6.58	05/23/2017 22:27:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Dogus Otomotiv, Buy, #42462	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	Buy	7.69	05/11/2018 18:36:00	E-mail	None Planned	Independent Research	Research Analyst	10.00
Dogus Otomotiv, Hold, #39844	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	Hold	8.79	09/20/2017 21:26:00	E-mail	None Planned	Independent Research	Research Analyst	9.50
Dogus Otomotiv, Sell, #37556	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	Sell	9.03	03/03/2017 15:06:00	E-mail	None Planned	Independent Research	Research Analyst	8.40
ICL Group, Hold, #38341	Elena Sakhnova	ICL Group	Equity	IL0002810146, ICL IT	Hold	1,520	05/11/2017 22:57:00	E-mail	None Planned	Independent Research	Research Analyst	1,650
ICL Group, U/R, #38310	Elena Sakhnova	ICL Group	Equity	IL0002810146, ICL IT	U/R	1,510	05/09/2017 18:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
ICL Group, Hold, #37391	Elena Sakhnova	ICL Group	Equity	IL0002810146, ICL IT	Hold	1,753	02/16/2017 12:25:00	E-mail	None Planned	Independent Research	Research Analyst	1,900
ICL Group, Buy, #36579	Elena Sakhnova	ICL Group	Equity	IL0002810146, ICL IT	Buy	1,505	11/24/2016 12:31:00	E-mail	None Planned	Independent Research	Research Analyst	1,850
KGHM, Buy, #37239	Dmitry Glushakov	KGHM	Equity	PLKGHM000017, KGH PW	Buy	126.8	02/03/2017 22:33:00	E-mail	None Planned	Independent Research	Research Analyst	150
Eurocash, Hold, #37699	Maria Kolbina	Eurocash	Equity	PLEURCH00011, EUR PW	Hold	31.75	03/18/2017 00:00:00	E-mail	None Planned	Independent Research	Research Analyst	36.00
Jeronimo Martins, U/R, #35027	Maria Kolbina	Jeronimo Martins	Equity	PTJMT0AE0001, JMT PL	U/R	13.95	07/22/2016 21:27:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Akcansa, Hold, #43888	Vladimir Bespalov	Akcansa	Equity	TRAAKCNS91F3, AKCNS TI	Hold	8.97	08/14/2018 12:31:00	E-mail	None Planned	Independent Research	Research Analyst	9.00
Akcansa, Buy, #38314	Vladimir Bespalov	Akcansa	Equity	TRAAKCNS91F3, AKCNS TI	Buy	11.89	05/10/2017 17:34:00	E-mail	None Planned	Independent Research	Research Analyst	14.00
Akcansa, U/R, #38294	Vladimir Bespalov	Akcansa	Equity	TRAAKCNS91F3, AKCNS TI	U/R	12.24	05/05/2017 11:26:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Cimsa, Hold, #43868	Vladimir Bespalov	Cimsa	Equity	TRACIMSA91F9, CIMSA TI	Hold	9.25	08/13/2018 13:36:00	E-mail	None Planned	Independent Research	Research Analyst	10.00
Cimsa, Buy, #40067	Vladimir Bespalov	Cimsa	Equity	TRACIMSA91F9, CIMSA TI	Buy	14.15	10/11/2017 17:16:00	E-mail	None Planned	Independent Research	Research Analyst	16.50
Cimsa, Hold, #36477	Vladimir Bespalov	Cimsa	Equity	TRACIMSA91F9, CIMSA TI	Hold	14.99	11/16/2016 20:47:00	E-mail	None Planned	Independent Research	Research Analyst	14.40
Akcansa, Hold, #36477	Vladimir Bespalov	Akcansa	Equity	TRAAKCNS91F3, AKCNS TI	Hold	12.66	11/16/2016 20:47:00	E-mail	None Planned	Independent Research	Research Analyst	13.70
Tofas, Buy, #39926	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	Buy	30.18	09/28/2017 19:28:00	E-mail	None Planned	Independent Research	Research Analyst	35.00
Tofas, Hold, #39227	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	Hold	31.40	07/31/2017 18:01:00	E-mail	None Planned	Independent Research	Research Analyst	35.00
Tofas, Buy, #38511	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	Buy	28.22	05/26/2017 21:50:00	E-mail	None Planned	Independent Research	Research Analyst	34.00
Tofas, U/R, #38315	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	U/R	29.22	05/10/2017 15:24:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Tofas, Hold, #35808	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	Hold	21.30	09/28/2016 18:08:00	E-mail	None Planned	Independent Research	Research Analyst	21.60
Ford Otosan, Buy, #44979	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Buy	55.90	10/31/2018 19:09:00	E-mail	None Planned	Independent Research	Research Analyst	70.00
Dogus Otomotiv, Hold, #44671	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	Hold	4.79	10/22/2018 21:05:00	E-mail	None Planned	Independent Research	Research Analyst	5.50
Ford Otosan, Hold, #44671	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Hold	64.15	10/22/2018 21:05:00	E-mail	None Planned	Independent Research	Research Analyst	70.00
Ford Otosan, Hold, #42640	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Hold	60.80	05/23/2018 15:42:00	E-mail	None Planned	Independent Research	Research Analyst	62.00
Ford Otosan, Buy, #42370	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Buy	54.30	04/27/2018 12:20:00	E-mail	None Planned	Independent Research	Research Analyst	62.00
Ford Otosan, Hold, #40167	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Hold	49.86	10/18/2017 21:03:00	E-mail	None Planned	Independent Research	Research Analyst	52.00
Ford Otosan, Buy, #39910	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Buy	42.80	09/28/2017 19:30:00	E-mail	None Planned	Independent Research	Research Analyst	52.00
Ford Otosan, Hold, #39437	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Hold	47.94	08/15/2017 16:16:00	E-mail	None Planned	Independent Research	Research Analyst	52.00
Ford Otosan, Buy, #37414	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Buy	36.14	02/20/2017 21:52:00	E-mail	None Planned	Independent Research	Research Analyst	44.00
Ford Otosan, U/R, #37383	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	U/R	35.00	02/15/2017 17:27:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
TBC Bank Group, Buy, #46386	Mikhail Shlemov	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Buy	1,316	02/18/2019 22:42:00	E-mail	None Planned	Independent Research	Research Analyst	1,800
BGEO Group, Buy, #46386	Mikhail Shlemov	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Buy	1,679	02/18/2019 22:42:00	E-mail	None Planned	Independent Research	Research Analyst	2,200
TBC Bank Group, Hold, #43890	Mikhail Shlemov	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Hold	1,604	08/14/2018 20:59:00	E-mail	None Planned	Independent Research	Research Analyst	1,700
BGEO Group, Buy, #43890	Mikhail Shlemov	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Buy	1,593	08/14/2018 20:59:00	E-mail	None Planned	Independent Research	Research Analyst	2,000
BGEO Group, Hold, #38153	Jason Hurwitz	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Hold	3,600	05/02/2017 23:06:00	E-mail	None Planned	Independent Research	Research Analyst	4,000
TBC Bank Group, Buy, #36232	Jason Hurwitz	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Buy	1,319	10/28/2016 11:35:00	E-mail	None Planned	Independent Research	Research Analyst	1,600
BGEO Group, Hold, #36232	Jason Hurwitz	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Hold	2,946	10/28/2016 11:35:00	E-mail	None Planned	Independent Research	Research Analyst	3,200
TBC Bank Group, Buy, #35327	Jason Hurwitz	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Buy	1,153	08/17/2016 21:32:00	E-mail	None Planned	Independent Research	Research Analyst	1,400
BGEO Group, Hold, #35327	Jason Hurwitz	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Hold	2,790	08/17/2016 21:32:00	E-mail	None Planned	Independent Research	Research Analyst	2,800
Kernel Holding, Buy, #40793	Nikolay Kovalev	Kernel Holding	Equity	LU0327357389, KER PW	Buy	50.75	12/08/2017 19:58:00	E-mail	None Planned	Independent Research	Research Analyst	65.00
Kernel Holding, Hold, #38593	Nikolay Kovalev	Kernel Holding	Equity	LU0327357389, KER PW	Hold	68.12	05/31/2017 22:07:00	E-mail	None Planned	Independent Research	Research Analyst	77.00
Kernel Holding, U/R, #33359	Nikolay Kovalev	Kernel Holding	Equity	LU0327357389, KER PW	U/R	48.15	02/26/2016 20:25:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Santander Bank Polska, Hold, #41241	Mikhail Shlemov	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Hold	420.0	02/01/2018 20:20:00	E-mail	None Planned	Independent Research	Research Analyst	480
Bank Pekao, Sell, #35546	Jason Hurwitz	Bank Pekao	Equity	PLPEKAO00016, PEO PW	Sell	131.3	09/01/2016 19:37:00	E-mail	None Planned	Independent Research	Research Analyst	115.00
Santander Bank Polska, Sell, #35546	Jason Hurwitz	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Sell	321.0	09/01/2016 19:37:00	E-mail	None Planned	Independent Research	Research Analyst	250
PKO, Sell, #39605	Jason Hurwitz	PKO	Equity	PLPKO0000016, PKO PW	Sell	36.90	08/31/2017 15:20:00	E-mail	None Planned	Independent Research	Research Analyst	30.00
Santander Bank Polska, Sell, #39605	Jason Hurwitz	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Sell	375.2	08/31/2017 15:20:00	E-mail	None Planned	Independent Research	Research Analyst	340
Alior Bank, Hold, #39605	Jason Hurwitz	Alior Bank	Equity	PLALIOR00045, ALR PW	Hold	66.38	08/31/2017 15:20:00	E-mail	None Planned	Independent Research	Research Analyst	70.00
Nordgold, Sell, #35096	Wiktor Bielski	Nordgold	Equity	US65557T2050, NORD LI	Sell	3.49	07/29/2016 13:07:00	E-mail	None Planned	Independent Research	Research Analyst	2.80
PKO, Hold, #43371	Mikhail Shlemov	PKO	Equity	PLPKO0000016, PKO PW	Hold	41.02	09/17/2018 22:58:00	E-mail	None Planned	Independent Research	Research Analyst	43.00
Santander Bank Polska, Hold, #43371	Mikhail Shlemov	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Hold	373.4	09/17/2018 22:58:00	E-mail	None Planned	Independent Research	Research Analyst	380
Alior Bank, Buy, #43371	Mikhail Shlemov	Alior Bank	Equity	PLALIOR00045, ALR PW	Buy	63.00	09/17/2018 22:58:00	E-mail	None Planned	Independent Research	Research Analyst	80.00
OTP Bank, Hold, #43371	Mikhail Shlemov	OTP Bank	Equity	HU0000061726, OTP HB	Hold	10,040	09/17/2018 22:58:00	E-mail	None Planned	Independent Research	Research Analyst	11,000
O'Key, U/R, #47446	Maria Kolbina	O'Key	Equity	US6708662019, OKEY LI	U/R	2.06	04/12/2019 22:39:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
O'Key, Hold, #34238	Maria Kolbina	O'Key	Equity	US6708662019, OKEY LI	Hold	2.40	05/13/2016 21:23:00	E-mail	None Planned	Independent Research	Research Analyst	2.60
O'Key, Buy, #33646	Maria Kolbina	O'Key	Equity	US6708662019, OKEY LI	Buy	1.83	03/23/2016 21:14:00	E-mail	None Planned	Independent Research	Research Analyst	2.40
TransContainer, U/R, #34719	Elena Sakhnova	TransContainer	Equity	US8935561006, TRCN LI	U/R	4.80	06/23/2016 19:09:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Erste Group, Hold, #39325	Jason Hurwitz	Erste Group	Equity	AT0000652011, EBS AV	Hold	35.80	08/04/2017 22:30:00	E-mail	None Planned	Independent Research	Research Analyst	37.00
Mostotrest, Hold, #32942	Elena Sakhnova	Mostotrest	Equity	RU0009177331, MSTT RX	Hold	73.40	01/25/2016 21:36:00	E-mail	None Planned	Independent Research	Research Analyst	75.00
KTK, U/R, #38120	Dmitry Glushakov	KTK	Equity	RU000A0JPYD7, KBTK RX	U/R	102.9	04/20/2017 17:21:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
EVRAZ plc, Sell, #43837	Dmitry Glushakov	EVRAZ plc	Equity	GB00B71N6K86, EVR LN	Sell	556.6	08/10/2018 11:59:00	E-mail	None Planned	Independent Research	Research Analyst	450
EVRAZ plc, U/R, #43747	Dmitry Glushakov	EVRAZ plc	Equity	GB00B71N6K86, EVR LN	U/R	550.4	08/03/2018 11:50:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
RBI, Sell, #37696	Jason Hurwitz	RBI	Equity	AT0000606306, RBI AV	Sell	22.60	03/16/2017 15:48:00	E-mail	None Planned	Independent Research	Research Analyst	20.00
Erste Group, Hold, #37029	Jason Hurwitz	Erste Group	Equity	AT0000652011, EBS AV	Hold	28.70	01/17/2017 22:12:00	E-mail	None Planned	Independent Research	Research Analyst	30.00
RBI, Sell, #37029	Jason Hurwitz	RBI	Equity	AT0000606306, RBI AV	Sell	19.66	01/17/2017 22:12:00	E-mail	None Planned	Independent Research	Research Analyst	16.00
Erste Group, Hold, #36236	Jason Hurwitz	Erste Group	Equity	AT0000652011, EBS AV	Hold	29.59	10/28/2016 21:44:00	E-mail	None Planned	Independent Research	Research Analyst	32.00
RBI, Sell, #36236	Jason Hurwitz	RBI	Equity	AT0000606306, RBI AV	Sell	15.39	10/28/2016 21:44:00	E-mail	None Planned	Independent Research	Research Analyst	14.00
RBI, Hold, #34499	Jason Hurwitz	RBI	Equity	AT0000606306, RBI AV	Hold	12.03	06/02/2016 21:12:00	E-mail	None Planned	Independent Research	Research Analyst	14.00
Erste Group, Buy, #33938	Jason Hurwitz	Erste Group	Equity	AT0000652011, EBS AV	Buy	25.36	04/15/2016 21:01:00	E-mail	None Planned	Independent Research	Research Analyst	32.00
RBI, Hold, #33938	Jason Hurwitz	RBI	Equity	AT0000606306, RBI AV	Hold	13.65	04/15/2016 21:01:00	E-mail	None Planned	Independent Research	Research Analyst	16.00
Erste Group, Buy, #32862	Jason Hurwitz	Erste Group	Equity	AT0000652011, EBS AV	Buy	25.11	01/18/2016 23:04:00	E-mail	None Planned	Independent Research	Research Analyst	33.00
RBI, Buy, #32862	Jason Hurwitz	RBI	Equity	AT0000606306, RBI AV	Buy	11.85	01/18/2016 23:04:00	E-mail	None Planned	Independent Research	Research Analyst	16.00
InterRAO, Buy, #41280	Vladimir Sklyar	InterRAO	Equity	RU000A0JPNM1, IRAO RX	Buy	3.72	02/22/2018 11:55:00	E-mail	None Planned	Independent Research	Research Analyst	7.60
Rosseti, Sell, #42094	Vladimir Sklyar	Rosseti	Equity	RU000A0JPVJ0, RSTI RX	Sell	0.83	05/23/2018 10:29:00	E-mail	None Planned	Independent Research	Research Analyst	0.0800
Rosseti, Buy, #37897	Mikhail Rasstrigin	Rosseti	Equity	RU000A0JPVJ0, RSTI RX	Buy	0.93	04/03/2017 12:09:00	E-mail	None Planned	Independent Research	Research Analyst	1.35
Polyus, Buy, #39330	Dmitry Glushakov	Polyus	Equity	US73181M1172, PLZL LI	Buy	32.99	08/11/2017 11:32:00	E-mail	None Planned	Independent Research	Research Analyst	48.00
NCSP, Hold, #36000	Elena Sakhnova	NCSP	Equity	US67011U2087, NCSP LI	Hold	7.70	11/08/2016 23:10:00	E-mail	None Planned	Independent Research	Research Analyst	8.00
Global Ports, Hold, #36000	Elena Sakhnova	Global Ports	Equity	US37951Q2021, GLPR LI	Hold	3.02	11/08/2016 23:10:00	E-mail	None Planned	Independent Research	Research Analyst	3.10
MHP, Buy, #40657	Nikolay Kovalev	MHP	Equity	US55302T2042, MHPC LI	Buy	11.20	11/28/2017 22:02:00	E-mail	None Planned	Independent Research	Research Analyst	15.00
MHP, U/R, #35029	Maria Kolbina	MHP	Equity	US55302T2042, MHPC LI	U/R	9.00	07/22/2016 21:27:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Lenta, Buy, #39378	Maria Kolbina	Lenta	Equity	US52634T2006, LNTA LI	Buy	6.70	09/12/2017 19:57:00	E-mail	None Planned	Independent Research	Research Analyst	8.20
Severstal, Hold, #39485	Dmitry Glushakov	Severstal	Equity	US8181503025, SVST LI	Hold	15.67	09/19/2017 11:17:00	E-mail	None Planned	Independent Research	Research Analyst	15.50
EVRAZ plc, Buy, #39485	Dmitry Glushakov	EVRAZ plc	Equity	GB00B71N6K86, EVR LN	Buy	297.4	09/19/2017 11:17:00	E-mail	None Planned	Independent Research	Research Analyst	400
FESCO, U/R, #35246	Elena Sakhnova	FESCO	Equity	RU0008992318, FESH RX	U/R	0.026	08/08/2016 21:25:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
FESCO, Sell, #34490	Elena Sakhnova	FESCO	Equity	RU0008992318, FESH RX	Sell	0.032	06/08/2016 17:40:00	E-mail	None Planned	Independent Research	Research Analyst	0.0300
FESCO, Hold, #33108	Elena Sakhnova	FESCO	Equity	RU0008992318, FESH RX	Hold	0.038	03/28/2016 10:54:00	E-mail	None Planned	Independent Research	Research Analyst	0.0400
FESCO, U/R, #33673	Elena Sakhnova	FESCO	Equity	RU0008992318, FESH RX	U/R	0.038	03/25/2016 17:21:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Ferrexpo, Buy, #43729	Dmitry Glushakov	Ferrexpo	Equity	GB00B1XH2C03, FXPO LN	Buy	202.0	08/02/2018 16:41:00	E-mail	None Planned	Independent Research	Research Analyst	220
Ferrexpo, U/R, #39259	Dmitry Glushakov	Ferrexpo	Equity	GB00B1XH2C03, FXPO LN	U/R	238.4	08/01/2017 20:09:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Ferrexpo, Hold, #39294	Dmitry Glushakov	Ferrexpo	Equity	GB00B1XH2C03, FXPO LN	Hold	239.6	08/04/2017 11:37:00	E-mail	None Planned	Independent Research	Research Analyst	240
Ferrexpo, Buy, #37119	Dmitry Glushakov	Ferrexpo	Equity	GB00B1XH2C03, FXPO LN	Buy	153.2	02/08/2017 13:44:00	E-mail	None Planned	Independent Research	Research Analyst	260
Severstal, Hold, #41656	Dmitry Glushakov	Severstal	Equity	US8181503025, SVST LI	Hold	15.40	03/12/2018 20:33:00	E-mail	None Planned	Independent Research	Research Analyst	16.00
NLMK, Hold, #41656	Dmitry Glushakov	NLMK	Equity	US67011E2046, NLMK LI	Hold	25.35	03/12/2018 20:33:00	E-mail	None Planned	Independent Research	Research Analyst	23.00
EVRAZ plc, Hold, #41656	Dmitry Glushakov	EVRAZ plc	Equity	GB00B71N6K86, EVR LN	Hold	439.5	03/12/2018 20:33:00	E-mail	None Planned	Independent Research	Research Analyst	420
Severstal, Buy, #36671	Dmitry Glushakov	Severstal	Equity	US8181503025, SVST LI	Buy	15.80	12/15/2016 13:26:00	E-mail	None Planned	Independent Research	Research Analyst	18.00
NLMK, Buy, #36671	Dmitry Glushakov	NLMK	Equity	US67011E2046, NLMK LI	Buy	18.05	12/15/2016 13:26:00	E-mail	None Planned	Independent Research	Research Analyst	21.00
MMK, Buy, #36671	Dmitry Glushakov	MMK	Equity	US5591892048, MMK LI	Buy	7.08	12/15/2016 13:26:00	E-mail	None Planned	Independent Research	Research Analyst	9.00
EVRAZ plc, Buy, #36671	Dmitry Glushakov	EVRAZ plc	Equity	GB00B71N6K86, EVR LN	Buy	234.6	12/15/2016 13:26:00	E-mail	None Planned	Independent Research	Research Analyst	340
Dixy, Sell, #37717	Maria Kolbina	Dixy	Equity	RU000A0JP7H1, DIXY RX	Sell	243.9	03/17/2017 15:42:00	E-mail	None Planned	Independent Research	Research Analyst	200
Dixy, Hold, #34247	Maria Kolbina	Dixy	Equity	RU000A0JP7H1, DIXY RX	Hold	325.0	05/13/2016 15:20:00	E-mail	None Planned	Independent Research	Research Analyst	380
Dixy, Buy, #32927	Maria Kolbina	Dixy	Equity	RU000A0JP7H1, DIXY RX	Buy	280.9	01/22/2016 18:25:00	E-mail	None Planned	Independent Research	Research Analyst	380
Lenta, Buy, #44452	Maria Kolbina	Lenta	Equity	US52634T2006, LNTA LI	Buy	3.44	10/08/2018 21:47:00	E-mail	None Planned	Independent Research	Research Analyst	5.50
Enel Russia, Buy, #41237	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Buy	1.56	02/28/2018 11:52:00	E-mail	None Planned	Independent Research	Research Analyst	2.00
Enel Russia, Hold, #39209	Mikhail Rasstrigin	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Hold	1.30	07/28/2017 12:19:00	E-mail	None Planned	Independent Research	Research Analyst	1.35
Enel Russia, Buy, #38754	Mikhail Rasstrigin	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Buy	1.08	06/19/2017 16:01:00	E-mail	None Planned	Independent Research	Research Analyst	1.35
Enel Russia, Hold, #35888	Mikhail Rasstrigin	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Hold	0.85	10/04/2016 12:09:00	E-mail	None Planned	Independent Research	Research Analyst	0.9460
Unipro, Buy, #41185	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	Buy	2.68	02/28/2018 11:57:00	E-mail	None Planned	Independent Research	Research Analyst	3.45
Unipro, Hold, #37716	Mikhail Rasstrigin	Unipro	Equity	RU000A0JNGA5, UPRO RX	Hold	2.58	03/17/2017 17:55:00	E-mail	None Planned	Independent Research	Research Analyst	2.70
Unipro, Sell, #35838	Mikhail Rasstrigin	Unipro	Equity	RU000A0JNGA5, UPRO RX	Sell	2.86	09/30/2016 20:56:00	E-mail	None Planned	Independent Research	Research Analyst	2.50
OGK2, Sell, #39204	Mikhail Rasstrigin	OGK2	Equity	RU000A0JNG55, OGKB RX	Sell	0.51	07/28/2017 11:40:00	E-mail	None Planned	Independent Research	Research Analyst	0.4000
OGK2, Hold, #37731	Mikhail Rasstrigin	OGK2	Equity	RU000A0JNG55, OGKB RX	Hold	0.44	03/17/2017 17:01:00	E-mail	None Planned	Independent Research	Research Analyst	0.5000
OGK2, Hold, #36659	Mikhail Rasstrigin	OGK2	Equity	RU000A0JNG55, OGKB RX	Hold	0.45	12/01/2016 20:27:00	E-mail	None Planned	Independent Research	Research Analyst	0.5000
TGK1, Buy, #42435	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Buy	0.011	05/10/2018 20:03:00	E-mail	None Planned	Independent Research	Research Analyst	0.0130
Novatek, Sell, #40696	Dmitry Loukashov	Novatek	Equity	US6698881090, NVTK LI	Sell	136.3	02/19/2018 11:18:00	E-mail	None Planned	Independent Research	Research Analyst	100.00
Gazprom Neft, Hold, #40696	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Hold	4.94	02/19/2018 11:18:00	E-mail	None Planned	Independent Research	Research Analyst	5.10
Tatneft, Hold, #40696	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Hold	9.77	02/19/2018 11:18:00	E-mail	None Planned	Independent Research	Research Analyst	9.60
Surgutneftegas, Sell, #40696	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Sell	0.50	02/19/2018 11:18:00	E-mail	None Planned	Independent Research	Research Analyst	0.4400
Gazprom, Buy, #40696	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Buy	2.45	02/19/2018 11:18:00	E-mail	None Planned	Independent Research	Research Analyst	2.90
Gazprom Neft, Hold, #38700	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Hold	3.11	06/28/2017 11:51:00	E-mail	None Planned	Independent Research	Research Analyst	3.20
Tatneft, Hold, #38700	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Hold	6.29	06/28/2017 11:51:00	E-mail	None Planned	Independent Research	Research Analyst	6.20
Lukoil, Hold, #38700	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	47.04	06/28/2017 11:51:00	E-mail	None Planned	Independent Research	Research Analyst	48.00
Surgutneftegas, Hold, #38700	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Hold	0.43	06/28/2017 11:51:00	E-mail	None Planned	Independent Research	Research Analyst	0.4800
Gazprom, Hold, #38700	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Hold	2.02	06/28/2017 11:51:00	E-mail	None Planned	Independent Research	Research Analyst	2.00
Novatek, Sell, #35468	Dmitry Loukashov	Novatek	Equity	US6698881090, NVTK LI	Sell	106.2	09/27/2016 13:26:00	E-mail	None Planned	Independent Research	Research Analyst	94.00
Gazprom Neft, Hold, #35468	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Hold	2.78	09/27/2016 13:26:00	E-mail	None Planned	Independent Research	Research Analyst	3.10
Tatneft, Hold, #35468	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Hold	5.04	09/27/2016 13:26:00	E-mail	None Planned	Independent Research	Research Analyst	5.70
Lukoil, Buy, #35468	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Buy	48.15	09/27/2016 13:26:00	E-mail	None Planned	Independent Research	Research Analyst	64.00
Surgutneftegas, Hold, #35468	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Hold	0.48	09/27/2016 13:26:00	E-mail	None Planned	Independent Research	Research Analyst	0.5600
Gazprom, Hold, #35468	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Hold	2.13	09/27/2016 13:26:00	E-mail	None Planned	Independent Research	Research Analyst	2.40
Polymetal International, Buy, #42079	Dmitry Glushakov	Polymetal International	Equity	JE00B6T5S470, POLY LN	Buy	679.6	07/30/2018 12:19:00	E-mail	None Planned	Independent Research	Research Analyst	840
Highland Gold, Hold, #42079	Dmitry Glushakov	Highland Gold	Equity	GB0032360173, HGM LN	Hold	140.0	07/30/2018 12:19:00	E-mail	None Planned	Independent Research	Research Analyst	150
Avtovaz, U/R, #34569	Vladimir Bespalov	Avtovaz	Equity	RU0009071187, AVAZ RX	U/R	7.86	06/09/2016 13:47:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Cherkizovo Group, Hold, #38766	Nikolay Kovalev	Cherkizovo Group	Equity	US1641452032, CHE LI	Hold	14.00	06/20/2017 18:48:00	E-mail	None Planned	Independent Research	Research Analyst	15.00
MHP, Hold, #35162	Nikolay Kovalev	MHP	Equity	US55302T2042, MHPC LI	Hold	9.42	09/30/2016 16:52:00	E-mail	None Planned	Independent Research	Research Analyst	10.00
Cherkizovo Group, Hold, #35162	Nikolay Kovalev	Cherkizovo Group	Equity	US1641452032, CHE LI	Hold	8.25	09/30/2016 16:52:00	E-mail	None Planned	Independent Research	Research Analyst	8.50
Kernel Holding, Buy, #35162	Nikolay Kovalev	Kernel Holding	Equity	LU0327357389, KER PW	Buy	59.92	09/30/2016 16:52:00	E-mail	None Planned	Independent Research	Research Analyst	85.00
Cherkizovo Group, Sell, #33558	Nikolay Kovalev	Cherkizovo Group	Equity	US1641452032, CHE LI	Sell	9.00	03/18/2016 17:51:00	E-mail	None Planned	Independent Research	Research Analyst	7.50
TCS Group, Sell, #35913	Jason Hurwitz	TCS Group	Equity	US87238U2033, TCS LI	Sell	7.34	10/07/2016 21:40:00	E-mail	None Planned	Independent Research	Research Analyst	6.00
Sberbank, Sell, #35913	Jason Hurwitz	Sberbank	Equity	RU0009029540, SBER RX	Sell	148.9	10/07/2016 21:40:00	E-mail	None Planned	Independent Research	Research Analyst	140.00
Sberbank, Buy, #54540	Mikhail Shlemov	Sberbank	Equity	RU0009029540, SBER RX	Buy	195.7	05/07/2020 13:40:00	E-mail	None Planned	Independent Research	Research Analyst	270
HMS, Hold, #54447	Vladimir Bespalov	HMS	Equity	US40425X4079, HMSG LI	Hold	4.90	04/27/2020 21:13:00	E-mail	None Planned	Independent Research	Research Analyst	5.00
TMK, Sell, #54279	Ekaterina Rodina	TMK	Equity	US87260R2013, TMKS LI	Sell	3.03	04/22/2020 22:25:00	E-mail	None Planned	Independent Research	Research Analyst	2.90
Sberbank, U/R, #53985	Mikhail Shlemov	Sberbank	Equity	RU0009029540, SBER RX	U/R	190.7	04/07/2020 21:22:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Alrosa, Hold, #53413	Dmitry Glushakov	Alrosa	Equity	RU0007252813, ALRS RX	Hold	70.75	03/10/2020 23:12:00	E-mail	None Planned	Independent Research	Research Analyst	78.00
NLMK, Hold, #53299	Dmitry Glushakov	NLMK	Equity	US67011E2046, NLMK LI	Hold	18.32	03/03/2020 22:27:00	E-mail	None Planned	Independent Research	Research Analyst	18.50
RusHydro, Buy, #53198	Vladimir Sklyar	RusHydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.69	03/06/2020 13:03:00	E-mail	None Planned	Independent Research	Research Analyst	0.8500
ERDEMIR, Buy, #52868	Dmitry Glushakov	ERDEMIR	Equity	TRAEREGL91G3, EREGL TI	Buy	9.23	02/12/2020 18:43:00	E-mail	None Planned	Independent Research	Research Analyst	11.00
DP Eurasia, Hold, #52604	Maria Kolbina	DP Eurasia	Equity	NL0012328801, DPEU LN	Hold	47.40	01/29/2020 13:01:00	E-mail	None Planned	Independent Research	Research Analyst	55.00
Norilsk Nickel, Buy, #52515	Dmitry Glushakov	Norilsk Nickel	Equity	US55315J1025, MNOD LI	Buy	34.40	01/24/2020 14:10:00	E-mail	None Planned	Independent Research	Research Analyst	38.00
LSR Group, Buy, #52464	Maria Kolbina	LSR Group	Equity	US50218G2066, LSRG LI	Buy	2.83	01/21/2020 21:50:00	E-mail	None Planned	Independent Research	Research Analyst	3.30
NLMK, Sell, #52427	Dmitry Glushakov	NLMK	Equity	US67011E2046, NLMK LI	Sell	24.26	01/20/2020 18:48:00	E-mail	None Planned	Independent Research	Research Analyst	18.50
Novatek, Sell, #52104	Dmitry Loukashov	Novatek	Equity	US6698881090, NVTK LI	Sell	213.4	01/14/2020 19:43:00	E-mail	None Planned	Independent Research	Research Analyst	159
Gazprom Neft, Buy, #52104	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Buy	7.32	01/14/2020 19:43:00	E-mail	None Planned	Independent Research	Research Analyst	9.00
Tatneft, Buy, #52104	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Buy	13.13	01/14/2020 19:43:00	E-mail	None Planned	Independent Research	Research Analyst	15.30
Lukoil, Hold, #52104	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	106.3	01/14/2020 19:43:00	E-mail	None Planned	Independent Research	Research Analyst	111.00
Surgutneftegas, Sell, #52104	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Sell	0.88	01/14/2020 19:43:00	E-mail	None Planned	Independent Research	Research Analyst	0.5300
Gazprom, Hold, #52104	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Hold	4.13	01/14/2020 19:43:00	E-mail	None Planned	Independent Research	Research Analyst	4.50
Gazprom, Hold, #51760	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Hold	3.96	11/29/2019 16:02:00	E-mail	None Planned	Independent Research	Research Analyst	3.90
Lukoil, Hold, #51660	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	95.44	11/27/2019 12:30:00	E-mail	None Planned	Independent Research	Research Analyst	102.00
TMK, Buy, #51572	Ekaterina Rodina	TMK	Equity	US87260R2013, TMKS LI	Buy	3.29	11/21/2019 12:09:00	E-mail	None Planned	Independent Research	Research Analyst	4.60
PhosAgro, Hold, #51478	Elena Sakhnova	PhosAgro	Equity	US71922G2093, PHOR LI	Hold	12.49	11/21/2019 15:58:00	E-mail	None Planned	Independent Research	Research Analyst	13.20
Severstal, Buy, #51420	Dmitry Glushakov	Severstal	Equity	US8181503025, SVST LI	Buy	14.15	11/21/2019 11:12:00	E-mail	None Planned	Independent Research	Research Analyst	17.00
NLMK, Hold, #51420	Dmitry Glushakov	NLMK	Equity	US67011E2046, NLMK LI	Hold	20.04	11/21/2019 11:12:00	E-mail	None Planned	Independent Research	Research Analyst	18.50
MMK, Buy, #51420	Dmitry Glushakov	MMK	Equity	US5591892048, MMK LI	Buy	7.77	11/21/2019 11:12:00	E-mail	None Planned	Independent Research	Research Analyst	12.00
EVRAZ plc, Hold, #51420	Dmitry Glushakov	EVRAZ plc	Equity	GB00B71N6K86, EVR LN	Hold	360.5	11/21/2019 11:12:00	E-mail	None Planned	Independent Research	Research Analyst	400
HMS, Buy, #50527	Vladimir Bespalov	HMS	Equity	US40425X4079, HMSG LI	Buy	4.34	09/26/2019 21:52:00	E-mail	None Planned	Independent Research	Research Analyst	5.00
Norilsk Nickel, Buy, #50472	Dmitry Glushakov	Norilsk Nickel	Equity	US55315J1025, MNOD LI	Buy	27.44	11/14/2019 13:53:00	E-mail	None Planned	Independent Research	Research Analyst	34.00
Petropavlovsk, Buy, #50243	Dmitry Glushakov	Petropavlovsk	Equity	GB0031544546, POG LN	Buy	9.85	09/16/2019 15:06:00	E-mail	None Planned	Independent Research	Research Analyst	17.00
Surgutneftegas, Sell, #50153	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Sell	0.53	09/05/2019 12:24:00	E-mail	None Planned	Independent Research	Research Analyst	0.3700
PhosAgro, Buy, #50020	Elena Sakhnova	PhosAgro	Equity	US71922G2093, PHOR LI	Buy	12.30	08/29/2019 11:30:00	E-mail	None Planned	Independent Research	Research Analyst	14.50
Norilsk Nickel, Buy, #49848	Dmitry Glushakov	Norilsk Nickel	Equity	US55315J1025, MNOD LI	Buy	22.10	08/21/2019 12:07:00	E-mail	None Planned	Independent Research	Research Analyst	27.30
RusHydro, Buy, #49809	Vladimir Sklyar	RusHydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.54	08/29/2019 22:01:00	E-mail	None Planned	Independent Research	Research Analyst	0.6800
BIM, Hold, #49671	Maria Kolbina	BIM	Equity	TREBIMM00018, BIMAS TI	Hold	48.20	08/12/2019 21:16:00	E-mail	None Planned	Independent Research	Research Analyst	50.00
Turkiye Vakiflar Bankasi, Buy, #49586	Akin Tuzun	Turkiye Vakiflar Bankasi	Equity	TREVKFB00019, VAKBN TI	Buy	4.83	09/11/2019 21:21:00	E-mail	None Planned	Independent Research	Research Analyst	6.80
Turkiye Halk Bankasi AS, Buy, #49586	Akin Tuzun	Turkiye Halk Bankasi AS	Equity	TRETHAL00019, HALKB TI	Buy	6.08	09/11/2019 21:21:00	E-mail	None Planned	Independent Research	Research Analyst	7.50
Yapi ve Kredi Bankasi, Buy, #49586	Akin Tuzun	Yapi ve Kredi Bankasi	Equity	TRAYKBNK91N6, YKBNK TI	Buy	2.44	09/11/2019 21:21:00	E-mail	None Planned	Independent Research	Research Analyst	3.00
Turkiye Is Bankasi, Buy, #49586	Akin Tuzun	Turkiye Is Bankasi	Equity	TRAISCTR91N2, ISCTR TI	Buy	5.83	09/11/2019 21:21:00	E-mail	None Planned	Independent Research	Research Analyst	7.30
Garanti Bank, Buy, #49586	Akin Tuzun	Garanti Bank	Equity	TRAGARAN91N1, GARAN TI	Buy	9.16	09/11/2019 21:21:00	E-mail	None Planned	Independent Research	Research Analyst	13.00
Akbank, Buy, #49586	Akin Tuzun	Akbank	Equity	TRAAKBNK91N6, AKBNK TI	Buy	7.14	09/11/2019 21:21:00	E-mail	None Planned	Independent Research	Research Analyst	9.00
Gazprom Neft, Hold, #49479	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Hold	6.70	08/01/2019 22:00:00	E-mail	None Planned	Independent Research	Research Analyst	6.60
MMK, Buy, #49453	Dmitry Glushakov	MMK	Equity	US5591892048, MMK LI	Buy	8.74	08/02/2019 11:50:00	E-mail	None Planned	Independent Research	Research Analyst	13.00
ICL Group, Buy, #49398	Elena Sakhnova	ICL Group	Equity	IL0002810146, ICL IT	Buy	1,820	07/30/2019 21:06:00	E-mail	None Planned	Independent Research	Research Analyst	2,290
Mail.ru Group, Buy, #49359	Vladimir Bespalov	Mail.ru Group	Equity	US5603172082, MAIL LI	Buy	24.94	07/31/2019 14:28:00	E-mail	None Planned	Independent Research	Research Analyst	35.00
Polyus, Hold, #49242	Dmitry Glushakov	Polyus	Equity	US73181M1172, PLZL LI	Hold	51.35	07/22/2019 17:22:00	E-mail	None Planned	Independent Research	Research Analyst	52.00
PhosAgro, Hold, #48790	Elena Sakhnova	PhosAgro	Equity	US71922G2093, PHOR LI	Hold	13.00	06/25/2019 16:18:00	E-mail	None Planned	Independent Research	Research Analyst	14.50
X5 Retail Group, Buy, #48535	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Buy	31.16	06/07/2019 19:22:00	E-mail	None Planned	Independent Research	Research Analyst	37.00
Gazprom, Hold, #48416	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Hold	3.29	06/03/2019 19:14:00	E-mail	None Planned	Independent Research	Research Analyst	3.80
Tatneft, Hold, #48354	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Hold	11.18	05/30/2019 19:14:00	E-mail	None Planned	Independent Research	Research Analyst	10.50
Gazprom, Buy, #48348	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Buy	3.19	05/30/2019 17:36:00	E-mail	None Planned	Independent Research	Research Analyst	3.80
Lukoil, Buy, #48327	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Buy	78.83	05/29/2019 22:16:00	E-mail	None Planned	Independent Research	Research Analyst	102.00
Gazprom Neft, Buy, #48168	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Buy	5.45	05/22/2019 12:02:00	E-mail	None Planned	Independent Research	Research Analyst	6.60
Gazprom, Buy, #48018	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Buy	2.49	05/14/2019 22:23:00	E-mail	None Planned	Independent Research	Research Analyst	3.40
PhosAgro, Buy, #47952	Elena Sakhnova	PhosAgro	Equity	US71922G2093, PHOR LI	Buy	11.80	05/14/2019 15:42:00	E-mail	None Planned	Independent Research	Research Analyst	14.50
HMS, Buy, #47766	Vladimir Bespalov	HMS	Equity	US40425X4079, HMSG LI	Buy	5.65	04/26/2019 22:02:00	E-mail	None Planned	Independent Research	Research Analyst	7.00
Novatek, Sell, #47731	Dmitry Loukashov	Novatek	Equity	US6698881090, NVTK LI	Sell	195.0	04/26/2019 11:56:00	E-mail	None Planned	Independent Research	Research Analyst	150
Polymetal International, Buy, #47692	Dmitry Glushakov	Polymetal International	Equity	JE00B6T5S470, POLY LN	Buy	802.0	04/25/2019 12:15:00	E-mail	None Planned	Independent Research	Research Analyst	960
Severstal, Buy, #47655	Dmitry Glushakov	Severstal	Equity	US8181503025, SVST LI	Buy	16.15	04/23/2019 16:59:00	E-mail	None Planned	Independent Research	Research Analyst	17.50
Sberbank, Buy, #47598	Mikhail Shlemov	Sberbank	Equity	RU0009029540, SBER RX	Buy	227.8	04/29/2019 13:13:00	E-mail	None Planned	Independent Research	Research Analyst	340
TMK, Buy, #47050	Ekaterina Rodina	TMK	Equity	US87260R2013, TMKS LI	Buy	2.94	03/25/2019 11:18:00	E-mail	None Planned	Independent Research	Research Analyst	4.90
Lukoil, Hold, #46708	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	83.44	03/05/2019 22:49:00	E-mail	None Planned	Independent Research	Research Analyst	86.00
TMK, Buy, #46667	Ekaterina Rodina	TMK	Equity	US87260R2013, TMKS LI	Buy	2.90	03/01/2019 22:15:00	E-mail	None Planned	Independent Research	Research Analyst	4.00
Lukoil, U/R, #46662	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	U/R	83.39	03/01/2019 16:13:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
PhosAgro, Hold, #46575	Elena Sakhnova	PhosAgro	Equity	US71922G2093, PHOR LI	Hold	13.51	02/28/2019 19:09:00	E-mail	None Planned	Independent Research	Research Analyst	15.00
TMK, Buy, #46536	Ekaterina Rodina	TMK	Equity	US87260R2013, TMKS LI	Buy	2.92	02/26/2019 11:29:00	E-mail	None Planned	Independent Research	Research Analyst	5.40
KAZ Minerals, Sell, #46467	Dmitry Glushakov	KAZ Minerals	Equity	GB00B0HZPV38, KAZ LN	Sell	678.4	02/22/2019 12:05:00	E-mail	None Planned	Independent Research	Research Analyst	540
Georgia Capital Plc, Buy, #46465	Maria Kolbina	Georgia Capital Plc	Equity	GB00BF4HYV08, CGEO LN	Buy	1,148	02/21/2019 18:21:00	E-mail	None Planned	Independent Research	Research Analyst	1,450
ICL Group, Hold, #46240	Elena Sakhnova	ICL Group	Equity	IL0002810146, ICL IT	Hold	1,985	02/08/2019 20:03:00	E-mail	None Planned	Independent Research	Research Analyst	2,290
LSR Group, Buy, #46157	Maria Kolbina	LSR Group	Equity	US50218G2066, LSRG LI	Buy	1.91	02/12/2019 20:32:00	E-mail	None Planned	Independent Research	Research Analyst	4.20
UC Rusal, Buy, #46095	Dmitry Glushakov	UC Rusal	Equity	JE00B5BCW814, 486 HK	Buy	3.71	02/11/2019 13:32:00	E-mail	None Planned	Independent Research	Research Analyst	5.80
LSR Group, Buy, #46013	Maria Kolbina	LSR Group	Equity	US50218G2066, LSRG LI	Buy	1.93	01/28/2019 19:28:00	E-mail	None Planned	Independent Research	Research Analyst	3.70
X5 Retail Group, Buy, #45952	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Buy	26.84	01/23/2019 19:44:00	E-mail	None Planned	Independent Research	Research Analyst	37.00
DP Eurasia, Hold, #45871	Maria Kolbina	DP Eurasia	Equity	NL0012328801, DPEU LN	Hold	115.2	01/18/2019 17:11:00	E-mail	None Planned	Independent Research	Research Analyst	130.00
HMS, Hold, #45574	Vladimir Bespalov	HMS	Equity	US40425X4079, HMSG LI	Hold	7.35	12/12/2018 19:04:00	E-mail	None Planned	Independent Research	Research Analyst	8.00
Global Ports, Buy, #45533	Elena Sakhnova	Global Ports	Equity	US37951Q2021, GLPR LI	Buy	2.62	12/07/2018 16:17:00	E-mail	None Planned	Independent Research	Research Analyst	5.00
El Sewedy Electric, Hold, #45260	Vladimir Sklyar	El Sewedy Electric	Equity	EGS3G0Z1C014, SWDY EC	Hold	16.45	11/26/2018 20:42:00	E-mail	None Planned	Independent Research	Research Analyst	18.50
Georgia Capital Plc, Hold, #44040	Maria Kolbina	Georgia Capital Plc	Equity	GB00BF4HYV08, CGEO LN	Hold	1,039	09/07/2018 22:33:00	E-mail	None Planned	Independent Research	Research Analyst	1,200
Polyus, Hold, #43619	Dmitry Glushakov	Polyus	Equity	US73181M1172, PLZL LI	Hold	60.30	01/22/2020 15:45:00	E-mail	None Planned	Independent Research	Research Analyst	68.00
Polymetal International, Hold, #43619	Dmitry Glushakov	Polymetal International	Equity	JE00B6T5S470, POLY LN	Hold	1,261	01/22/2020 15:45:00	E-mail	None Planned	Independent Research	Research Analyst	1,400
Highland Gold, Buy, #43619	Dmitry Glushakov	Highland Gold	Equity	GB0032360173, HGM LN	Buy	183.1	01/22/2020 15:45:00	E-mail	None Planned	Independent Research	Research Analyst	240
Petropavlovsk, Buy, #43619	Dmitry Glushakov	Petropavlovsk	Equity	GB0031544546, POG LN	Buy	12.94	01/22/2020 15:45:00	E-mail	None Planned	Independent Research	Research Analyst	24.00
Severstal, Buy, #43042	Dmitry Glushakov	Severstal	Equity	US8181503025, SVST LI	Buy	15.13	05/20/2019 11:37:00	E-mail	None Planned	Independent Research	Research Analyst	20.00
NLMK, Hold, #43042	Dmitry Glushakov	NLMK	Equity	US67011E2046, NLMK LI	Hold	24.48	05/20/2019 11:37:00	E-mail	None Planned	Independent Research	Research Analyst	24.00
Aeroflot, Hold, #42498	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Hold	136.2	05/22/2018 21:30:00	E-mail	None Planned	Independent Research	Research Analyst	150
LSR Group, Buy, #40761	Maria Kolbina	LSR Group	Equity	US50218G2066, LSRG LI	Buy	3.02	01/26/2018 21:00:00	E-mail	None Planned	Independent Research	Research Analyst	3.70
Etalon Group, Hold, #40761	Maria Kolbina	Etalon Group	Equity	US29760G1031, ETLN LI	Hold	3.18	01/26/2018 21:00:00	E-mail	None Planned	Independent Research	Research Analyst	3.50
PIK Group, Buy, #40761	Maria Kolbina	PIK Group	Equity	RU000A0JP7J7, PIKK RX	Buy	303.8	01/26/2018 21:00:00	E-mail	None Planned	Independent Research	Research Analyst	400
Alrosa, Buy, #39772	Dmitry Glushakov	Alrosa	Equity	RU0007252813, ALRS RX	Buy	73.62	11/20/2017 12:07:00	E-mail	None Planned	Independent Research	Research Analyst	120.00
Global Ports, Hold, #39486	Elena Sakhnova	Global Ports	Equity	US37951Q2021, GLPR LI	Hold	4.15	08/30/2017 20:36:00	E-mail	None Planned	Independent Research	Research Analyst	4.50
X5 Retail Group, Buy, #39292	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Buy	40.14	08/04/2017 18:27:00	E-mail	None Planned	Independent Research	Research Analyst	52.00
Aygaz, Hold, #37733	Ekaterina Rodina	Aygaz	Equity	TRAAYGAZ91E0, AYGAZ TI	Hold	14.64	03/17/2017 20:37:00	E-mail	None Planned	Independent Research	Research Analyst	15.00
TBC Bank Group, Buy, #37499	Jason Hurwitz	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Buy	1,421	02/27/2017 23:23:00	E-mail	None Planned	Independent Research	Research Analyst	1,900
MMK, Buy, #37354	Dmitry Glushakov	MMK	Equity	US5591892048, MMK LI	Buy	9.20	02/16/2017 11:50:00	E-mail	None Planned	Independent Research	Research Analyst	12.00
Aeroflot, Buy, #37237	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Buy	179.0	02/08/2017 11:01:00	E-mail	None Planned	Independent Research	Research Analyst	220
Unipro, Sell, #37053	Mikhail Rasstrigin	Unipro	Equity	RU000A0JNGA5, UPRO RX	Sell	2.99	01/20/2017 13:17:00	E-mail	None Planned	Independent Research	Research Analyst	2.65
OGK2, Sell, #37053	Mikhail Rasstrigin	OGK2	Equity	RU000A0JNG55, OGKB RX	Sell	0.57	01/20/2017 13:17:00	E-mail	None Planned	Independent Research	Research Analyst	0.5000
Enel Russia, Hold, #37053	Mikhail Rasstrigin	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Hold	1.06	01/20/2017 13:17:00	E-mail	None Planned	Independent Research	Research Analyst	1.10
TBC Bank Group, Buy, #36917	Jason Hurwitz	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Buy	1,450	01/16/2017 22:34:00	E-mail	None Planned	Independent Research	Research Analyst	1,750
BGEO Group, Buy, #36917	Jason Hurwitz	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Buy	2,787	01/16/2017 22:34:00	E-mail	None Planned	Independent Research	Research Analyst	3,500
Mosenergo, Sell, #36735	Mikhail Rasstrigin	Mosenergo	Equity	RU0008958863, MSNG RX	Sell	2.38	12/09/2016 21:09:00	E-mail	None Planned	Independent Research	Research Analyst	1.90
OTP Bank, Sell, #36236	Jason Hurwitz	OTP Bank	Equity	HU0000061726, OTP HB	Sell	7,831	10/28/2016 21:44:00	E-mail	None Planned	Independent Research	Research Analyst	7,500
PhosAgro, Sell, #36052	Elena Sakhnova	PhosAgro	Equity	US71922G2093, PHOR LI	Sell	12.50	10/25/2016 22:58:00	E-mail	None Planned	Independent Research	Research Analyst	11.00
Acron, Hold, #36052	Elena Sakhnova	Acron	Equity	RU0009028674, AKRN RX	Hold	49.66	10/25/2016 22:58:00	E-mail	None Planned	Independent Research	Research Analyst	49.00
X5 Retail Group, Buy, #35368	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Buy	23.05	08/17/2016 20:15:00	E-mail	None Planned	Independent Research	Research Analyst	38.00
Polymetal International, Sell, #34979	Wiktor Bielski	Polymetal International	Equity	JE00B6T5S470, POLY LN	Sell	1,098	07/20/2016 12:53:00	E-mail	None Planned	Independent Research	Research Analyst	840
Rosseti, U/R, #34933	Mikhail Rasstrigin	Rosseti	Equity	RU000A0JPVJ0, RSTI RX	U/R	0.69	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
FSK, U/R, #34933	Mikhail Rasstrigin	FSK	Equity	RU000A0JPNN9, FEES RX	U/R	0.15	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
InterRAO, U/R, #34933	Mikhail Rasstrigin	InterRAO	Equity	RU000A0JPNM1, IRAO RX	U/R	2.73	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
RusHydro, U/R, #34933	Mikhail Rasstrigin	RusHydro	Equity	RU000A0JPKH7, HYDR RX	U/R	0.62	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
TGK1, U/R, #34933	Mikhail Rasstrigin	TGK1	Equity	RU000A0JNUD0, TGKA RX	U/R	0.0049	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Unipro, U/R, #34933	Mikhail Rasstrigin	Unipro	Equity	RU000A0JNGA5, UPRO RX	U/R	2.67	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
OGK2, U/R, #34933	Mikhail Rasstrigin	OGK2	Equity	RU000A0JNG55, OGKB RX	U/R	0.27	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Enel Russia, U/R, #34933	Mikhail Rasstrigin	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	U/R	0.87	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Mosenergo, U/R, #34933	Mikhail Rasstrigin	Mosenergo	Equity	RU0008958863, MSNG RX	U/R	1.58	07/15/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Bank St Petersburg, Hold, #33798	Jason Hurwitz	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Hold	49.20	04/06/2016 21:52:00	E-mail	None Planned	Independent Research	Research Analyst	55.00
Qiwi, Buy, #33575	Vladimir Bespalov	Qiwi	Equity	US74735M1080, QIWI US	Buy	13.86	04/11/2016 15:21:00	E-mail	None Planned	Independent Research	Research Analyst	21.40
Mail.ru Group, Hold, #33575	Vladimir Bespalov	Mail.ru Group	Equity	US5603172082, MAIL LI	Hold	20.70	04/11/2016 15:21:00	E-mail	None Planned	Independent Research	Research Analyst	21.80
Yandex, Buy, #33575	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Buy	15.21	04/11/2016 15:21:00	E-mail	None Planned	Independent Research	Research Analyst	18.50
Cimsa, Buy, #33299	Vladimir Bespalov	Cimsa	Equity	TRACIMSA91F9, CIMSA TI	Buy	14.14	02/20/2016 22:12:00	E-mail	None Planned	Independent Research	Research Analyst	17.70
Akcansa, Buy, #33299	Vladimir Bespalov	Akcansa	Equity	TRAAKCNS91F3, AKCNS TI	Buy	13.12	02/20/2016 22:12:00	E-mail	None Planned	Independent Research	Research Analyst	16.10
Tupras, Hold, #32760	Akin Tuzun	Tupras	Equity	TRATUPRS91E8, TUPRS TI	Hold	73.85	02/25/2016 16:09:00	E-mail	None Planned	Independent Research	Research Analyst	81.10
Turcas, Sell, #32760	Akin Tuzun	Turcas	Equity	TRATRCAS92E6, TRCAS TI	Sell	1.37	02/25/2016 16:09:00	E-mail	None Planned	Independent Research	Research Analyst	1.20
Aygaz, Buy, #32760	Akin Tuzun	Aygaz	Equity	TRAAYGAZ91E0, AYGAZ TI	Buy	10.90	02/25/2016 16:09:00	E-mail	None Planned	Independent Research	Research Analyst	13.80
InterRAO, Buy, #54966	Vladimir Sklyar	InterRAO	Equity	RU000A0JPNM1, IRAO RX	Buy	4.85	05/26/2020 10:56:00	E-mail	None Planned	Independent Research	Research Analyst	9.00
Turkish Airlines, U/R, #53761	Elena Sakhnova	Turkish Airlines	Equity	TRATHYAO91M5, THYAO TI	U/R	9.25	03/27/2020 22:15:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Dogus Otomotiv, U/R, #53501	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	U/R	7.55	03/13/2020 21:00:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Dogus Otomotiv, U/R, #50619	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	U/R	8.09	10/02/2019 20:59:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Surgutneftegas, U/R, #50103	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	U/R	0.41	09/02/2019 22:20:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
TGK1, Buy, #54830	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Buy	0.011	05/19/2020 14:30:00	E-mail	None Planned	Independent Research	Research Analyst	0.0130
OGK2, Hold, #54830	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Hold	0.63	05/19/2020 14:30:00	E-mail	None Planned	Independent Research	Research Analyst	0.6500
Mosenergo, Hold, #54830	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Hold	1.89	05/19/2020 14:30:00	E-mail	None Planned	Independent Research	Research Analyst	1.93
Coca-Cola Icecek, Buy, #54644	Nikolay Kovalev	Coca-Cola Icecek	Equity	TRECOLA00011, CCOLA TI	Buy	36.96	05/07/2020 17:38:00	E-mail	None Planned	Independent Research	Research Analyst	50.00
Anadolu Efes, Buy, #54644	Nikolay Kovalev	Anadolu Efes	Equity	TRAAEFES91A9, AEFES TI	Buy	17.95	05/07/2020 17:38:00	E-mail	None Planned	Independent Research	Research Analyst	25.00
Polyus, Buy, #54368	Dmitry Glushakov	Polyus	Equity	US73181M1172, PLZL LI	Buy	80.65	04/27/2020 11:55:00	E-mail	None Planned	Independent Research	Research Analyst	100.00
Polymetal International, Buy, #54368	Dmitry Glushakov	Polymetal International	Equity	JE00B6T5S470, POLY LN	Buy	1,700	04/27/2020 11:55:00	E-mail	None Planned	Independent Research	Research Analyst	2,260
Highland Gold, Buy, #54368	Dmitry Glushakov	Highland Gold	Equity	GB0032360173, HGM LN	Buy	236.4	04/27/2020 11:55:00	E-mail	None Planned	Independent Research	Research Analyst	350
Petropavlovsk, Buy, #54368	Dmitry Glushakov	Petropavlovsk	Equity	GB0031544546, POG LN	Buy	25.00	04/27/2020 11:55:00	E-mail	None Planned	Independent Research	Research Analyst	52.00
LSR Group, Buy, #54310	Maria Kolbina	LSR Group	Equity	US50218G2066, LSRG LI	Buy	1.49	04/30/2020 15:44:00	E-mail	None Planned	Independent Research	Research Analyst	2.20
Etalon Group, Hold, #54310	Maria Kolbina	Etalon Group	Equity	US29760G1031, ETLN LI	Hold	1.07	04/30/2020 15:44:00	E-mail	None Planned	Independent Research	Research Analyst	1.10
Steppe Cement, Buy, #54147	Vladimir Bespalov	Steppe Cement	Equity	MYA004433001, STCM LN	Buy	20.50	04/14/2020 17:54:00	E-mail	None Planned	Independent Research	Research Analyst	40.00
Cimsa, Hold, #53998	Vladimir Bespalov	Cimsa	Equity	TRACIMSA91F9, CIMSA TI	Hold	7.50	05/12/2020 18:15:00	E-mail	None Planned	Independent Research	Research Analyst	8.00
Akcansa, Hold, #53998	Vladimir Bespalov	Akcansa	Equity	TRAAKCNS91F3, AKCNS TI	Hold	7.65	05/12/2020 18:15:00	E-mail	None Planned	Independent Research	Research Analyst	8.00
PhosAgro, Buy, #53800	Elena Sakhnova	PhosAgro	Equity	US71922G2093, PHOR LI	Buy	10.40	04/08/2020 12:05:00	E-mail	None Planned	Independent Research	Research Analyst	13.20
ICL Group, Buy, #53800	Elena Sakhnova	ICL Group	Equity	IL0002810146, ICL IT	Buy	1,058	04/08/2020 12:05:00	E-mail	None Planned	Independent Research	Research Analyst	1,500
FSK, Buy, #53500	Vladimir Sklyar	FSK	Equity	RU000A0JPNN9, FEES RX	Buy	0.16	04/03/2020 17:23:00	E-mail	None Planned	Independent Research	Research Analyst	0.2000
InterRAO, Buy, #53500	Vladimir Sklyar	InterRAO	Equity	RU000A0JPNM1, IRAO RX	Buy	4.92	04/03/2020 17:23:00	E-mail	None Planned	Independent Research	Research Analyst	10.00
RusHydro, Buy, #53500	Vladimir Sklyar	RusHydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.61	04/03/2020 17:23:00	E-mail	None Planned	Independent Research	Research Analyst	0.7500
TGK1, Buy, #53500	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Buy	0.0098	04/03/2020 17:23:00	E-mail	None Planned	Independent Research	Research Analyst	0.0150
Unipro, Buy, #53500	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	Buy	2.57	04/03/2020 17:23:00	E-mail	None Planned	Independent Research	Research Analyst	2.90
OGK2, Buy, #53500	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Buy	0.58	04/03/2020 17:23:00	E-mail	None Planned	Independent Research	Research Analyst	0.7200
Enel Russia, Buy, #53500	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Buy	0.87	04/03/2020 17:23:00	E-mail	None Planned	Independent Research	Research Analyst	1.07
Mosenergo, Buy, #53500	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Buy	1.85	04/03/2020 17:23:00	E-mail	None Planned	Independent Research	Research Analyst	2.20
Novatek, Hold, #53418	Dmitry Loukashov	Novatek	Equity	US6698881090, NVTK LI	Hold	129.3	03/11/2020 13:28:00	E-mail	None Planned	Independent Research	Research Analyst	133.00
Transneft, Buy, #53418	Dmitry Loukashov	Transneft	Equity	RU0009091573, TRNFP RX	Buy	139,950	03/11/2020 13:28:00	E-mail	None Planned	Independent Research	Research Analyst	218,000
Gazprom Neft, Hold, #53418	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Hold	4.53	03/11/2020 13:28:00	E-mail	None Planned	Independent Research	Research Analyst	5.00
Tatneft, Hold, #53418	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Hold	7.41	03/11/2020 13:28:00	E-mail	None Planned	Independent Research	Research Analyst	8.20
Lukoil, Hold, #53418	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	63.64	03/11/2020 13:28:00	E-mail	None Planned	Independent Research	Research Analyst	67.00
Surgutneftegas, Hold, #53418	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Hold	0.43	03/11/2020 13:28:00	E-mail	None Planned	Independent Research	Research Analyst	0.4300
Gazprom, Buy, #53418	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Buy	2.39	03/11/2020 13:28:00	E-mail	None Planned	Independent Research	Research Analyst	2.80
Petkim Petrokimya Holding, Buy, #53223	Ekaterina Rodina	Petkim Petrokimya Holding	Equity	TRAPETKM91E0, PETKM TI	Buy	3.64	02/28/2020 22:19:00	E-mail	None Planned	Independent Research	Research Analyst	5.00
Aygaz, Hold, #53223	Ekaterina Rodina	Aygaz	Equity	TRAAYGAZ91E0, AYGAZ TI	Hold	11.40	02/28/2020 22:19:00	E-mail	None Planned	Independent Research	Research Analyst	12.30
Georgia Capital Plc, Buy, #53197	Maria Kolbina	Georgia Capital Plc	Equity	GB00BF4HYV08, CGEO LN	Buy	742.0	02/27/2020 21:43:00	E-mail	None Planned	Independent Research	Research Analyst	1,300
Turkiye Vakiflar Bankasi, Buy, #53173	Akin Tuzun	Turkiye Vakiflar Bankasi	Equity	TREVKFB00019, VAKBN TI	Buy	5.30	03/03/2020 11:15:00	E-mail	None Planned	Independent Research	Research Analyst	9.50
Turkiye Halk Bankasi AS, Buy, #53173	Akin Tuzun	Turkiye Halk Bankasi AS	Equity	TRETHAL00019, HALKB TI	Buy	5.98	03/03/2020 11:15:00	E-mail	None Planned	Independent Research	Research Analyst	9.50
Yapi ve Kredi Bankasi, Buy, #53173	Akin Tuzun	Yapi ve Kredi Bankasi	Equity	TRAYKBNK91N6, YKBNK TI	Buy	2.29	03/03/2020 11:15:00	E-mail	None Planned	Independent Research	Research Analyst	3.50
Turkiye Is Bankasi, Buy, #53173	Akin Tuzun	Turkiye Is Bankasi	Equity	TRAISCTR91N2, ISCTR TI	Buy	5.71	03/03/2020 11:15:00	E-mail	None Planned	Independent Research	Research Analyst	9.00
Garanti Bank, Buy, #53173	Akin Tuzun	Garanti Bank	Equity	TRAGARAN91N1, GARAN TI	Buy	9.50	03/03/2020 11:15:00	E-mail	None Planned	Independent Research	Research Analyst	15.50
Akbank, Buy, #53173	Akin Tuzun	Akbank	Equity	TRAAKBNK91N6, AKBNK TI	Buy	6.76	03/03/2020 11:15:00	E-mail	None Planned	Independent Research	Research Analyst	10.20
Eurocash, Buy, #53131	Maria Kolbina	Eurocash	Equity	PLEURCH00011, EUR PW	Buy	18.12	03/04/2020 13:05:00	E-mail	None Planned	Independent Research	Research Analyst	24.00
Dino Polska SA, Buy, #53131	Maria Kolbina	Dino Polska SA	Equity	PLDINPL00011, DNP PW	Buy	141.8	03/04/2020 13:05:00	E-mail	None Planned	Independent Research	Research Analyst	200
UC Rusal, Buy, #52963	Dmitry Glushakov	UC Rusal	Equity	JE00B5BCW814, 486 HK	Buy	4.31	02/17/2020 13:52:00	E-mail	None Planned	Independent Research	Research Analyst	5.80
Novatek, Sell, #52840	Dmitry Loukashov	Novatek	Equity	US6698881090, NVTK LI	Sell	167.0	02/11/2020 12:33:00	E-mail	None Planned	Independent Research	Research Analyst	140.00
Gazprom Neft, Hold, #52840	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Hold	6.94	02/11/2020 12:33:00	E-mail	None Planned	Independent Research	Research Analyst	7.30
Tatneft, Hold, #52840	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Hold	11.74	02/11/2020 12:33:00	E-mail	None Planned	Independent Research	Research Analyst	12.90
Lukoil, Sell, #52840	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Sell	100.7	02/11/2020 12:33:00	E-mail	None Planned	Independent Research	Research Analyst	92.00
Surgutneftegas, Sell, #52840	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Sell	0.72	02/11/2020 12:33:00	E-mail	None Planned	Independent Research	Research Analyst	0.4600
Gazprom, Sell, #52840	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Sell	3.58	02/11/2020 12:33:00	E-mail	None Planned	Independent Research	Research Analyst	3.10
TCS Group, Buy, #52754	Mikhail Shlemov	TCS Group	Equity	US87238U2033, TCS LI	Buy	23.15	02/05/2020 21:48:00	E-mail	None Planned	Independent Research	Research Analyst	34.00
Halyk Bank, Buy, #52754	Mikhail Shlemov	Halyk Bank	Equity	US46627J3023, HSBK LI	Buy	14.35	02/05/2020 21:48:00	E-mail	None Planned	Independent Research	Research Analyst	27.00
Sberbank, Buy, #52754	Mikhail Shlemov	Sberbank	Equity	RU0009029540, SBER RX	Buy	257.7	02/05/2020 21:48:00	E-mail	None Planned	Independent Research	Research Analyst	330
PKO, Buy, #52754	Mikhail Shlemov	PKO	Equity	PLPKO0000016, PKO PW	Buy	34.90	02/05/2020 21:48:00	E-mail	None Planned	Independent Research	Research Analyst	45.00
Bank Pekao, Buy, #52754	Mikhail Shlemov	Bank Pekao	Equity	PLPEKAO00016, PEO PW	Buy	98.20	02/05/2020 21:48:00	E-mail	None Planned	Independent Research	Research Analyst	140.00
Santander Bank Polska, Buy, #52754	Mikhail Shlemov	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Buy	281.8	02/05/2020 21:48:00	E-mail	None Planned	Independent Research	Research Analyst	350
Alior Bank, Buy, #52754	Mikhail Shlemov	Alior Bank	Equity	PLALIOR00045, ALR PW	Buy	27.00	02/05/2020 21:48:00	E-mail	None Planned	Independent Research	Research Analyst	38.00
OTP Bank, Buy, #52754	Mikhail Shlemov	OTP Bank	Equity	HU0000061726, OTP HB	Buy	14,300	02/05/2020 21:48:00	E-mail	None Planned	Independent Research	Research Analyst	17,400
TBC Bank Group, Buy, #52754	Mikhail Shlemov	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Buy	1,210	02/05/2020 21:48:00	E-mail	None Planned	Independent Research	Research Analyst	1,800
Komercni Banka, Hold, #52754	Mikhail Shlemov	Komercni Banka	Equity	CZ0008019106, KOMB CK	Hold	786.0	02/05/2020 21:48:00	E-mail	None Planned	Independent Research	Research Analyst	810
FSK, Hold, #52646	Vladimir Sklyar	FSK	Equity	RU000A0JPNN9, FEES RX	Hold	0.24	02/25/2020 21:01:00	E-mail	None Planned	Independent Research	Research Analyst	0.2500
InterRAO, Buy, #52646	Vladimir Sklyar	InterRAO	Equity	RU000A0JPNM1, IRAO RX	Buy	6.35	02/25/2020 21:01:00	E-mail	None Planned	Independent Research	Research Analyst	11.00
RusHydro, Buy, #52646	Vladimir Sklyar	RusHydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.74	02/25/2020 21:01:00	E-mail	None Planned	Independent Research	Research Analyst	0.9500
TGK1, Buy, #52646	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Buy	0.016	02/25/2020 21:01:00	E-mail	None Planned	Independent Research	Research Analyst	0.0180
Unipro, Hold, #52646	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	Hold	3.13	02/25/2020 21:01:00	E-mail	None Planned	Independent Research	Research Analyst	3.15
OGK2, Buy, #52646	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Buy	0.73	02/25/2020 21:01:00	E-mail	None Planned	Independent Research	Research Analyst	0.8700
Mosenergo, Hold, #52646	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Hold	2.56	02/25/2020 21:01:00	E-mail	None Planned	Independent Research	Research Analyst	2.65
Anadolu Efes, Buy, #52574	Nikolay Kovalev	Anadolu Efes	Equity	TRAAEFES91A9, AEFES TI	Buy	24.80	02/12/2020 18:47:00	E-mail	None Planned	Independent Research	Research Analyst	35.00
Coca-Cola Hellenic , Hold, #52574	Nikolay Kovalev	Coca-Cola Hellenic	Equity	CH0198251305, CCH LN	Hold	2,782	02/12/2020 18:47:00	E-mail	None Planned	Independent Research	Research Analyst	3,000
OGK2, Hold, #52102	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Hold	0.64	12/19/2019 19:18:00	E-mail	None Planned	Independent Research	Research Analyst	0.6100
Mosenergo, Sell, #52102	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Sell	2.36	12/19/2019 19:18:00	E-mail	None Planned	Independent Research	Research Analyst	2.00
Detsky Mir, Buy, #51730	Maria Kolbina	Detsky Mir	Equity	RU000A0JSQ90, DSKY RX	Buy	107.1	01/16/2020 21:51:00	E-mail	None Planned	Independent Research	Research Analyst	125.00
Jumbo S.A., Hold, #51730	Maria Kolbina	Jumbo S.A.	Equity	GRS282183003, BELA GA	Hold	18.01	01/16/2020 21:51:00	E-mail	None Planned	Independent Research	Research Analyst	20.00
TGK1, Buy, #51108	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Buy	0.013	11/14/2019 16:56:00	E-mail	None Planned	Independent Research	Research Analyst	0.0170
OGK2, Buy, #51108	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Buy	0.64	11/14/2019 16:56:00	E-mail	None Planned	Independent Research	Research Analyst	0.7900
Mosenergo, Hold, #51108	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Hold	2.31	11/14/2019 16:56:00	E-mail	None Planned	Independent Research	Research Analyst	2.50
Cimsa, Sell, #50994	Vladimir Bespalov	Cimsa	Equity	TRACIMSA91F9, CIMSA TI	Sell	9.02	12/16/2019 15:32:00	E-mail	None Planned	Independent Research	Research Analyst	8.00
Akcansa, Sell, #50994	Vladimir Bespalov	Akcansa	Equity	TRAAKCNS91F3, AKCNS TI	Sell	9.80	12/16/2019 15:32:00	E-mail	None Planned	Independent Research	Research Analyst	8.00
Dogus Otomotiv, Sell, #50704	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	Sell	8.55	10/23/2019 17:23:00	E-mail	None Planned	Independent Research	Research Analyst	8.00
Transneft, Buy, #50502	Dmitry Loukashov	Transneft	Equity	RU0009091573, TRNFP RX	Buy	149,850	10/04/2019 12:17:00	E-mail	None Planned	Independent Research	Research Analyst	215,000
Gazprom Neft, Hold, #50502	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Hold	6.49	10/04/2019 12:17:00	E-mail	None Planned	Independent Research	Research Analyst	7.00
Tatneft, Hold, #50502	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Hold	10.66	10/04/2019 12:17:00	E-mail	None Planned	Independent Research	Research Analyst	10.60
Lukoil, Hold, #50502	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	84.80	10/04/2019 12:17:00	E-mail	None Planned	Independent Research	Research Analyst	91.00
Surgutneftegas, Sell, #50502	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Sell	0.55	10/04/2019 12:17:00	E-mail	None Planned	Independent Research	Research Analyst	0.4000
Obuv Rossii, Hold, #49914	Maria Kolbina	Obuv Rossii	Equity	RU000A0JXKG3, OBUV RX	Hold	48.55	09/16/2019 20:59:00	E-mail	None Planned	Independent Research	Research Analyst	50.00
CCC, Buy, #49914	Maria Kolbina	CCC	Equity	PLCCC0000016, CCC PW	Buy	141.7	09/16/2019 20:59:00	E-mail	None Planned	Independent Research	Research Analyst	180
GPH, U/R, #49878	Elena Sakhnova	GPH	Equity	GB00BD2ZT390, GPH LN	U/R	300.0	08/23/2019 19:21:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Nostrum Oil&Gas, U/R, #49847	Alexander Donskoy	Nostrum Oil&Gas	Equity	GB00BGP6Q951, NOG LN	U/R	37.50	08/20/2019 22:28:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Cimsa, Hold, #49562	Vladimir Bespalov	Cimsa	Equity	TRACIMSA91F9, CIMSA TI	Hold	6.63	08/06/2019 18:56:00	E-mail	None Planned	Independent Research	Research Analyst	7.00
Akcansa, Hold, #49562	Vladimir Bespalov	Akcansa	Equity	TRAAKCNS91F3, AKCNS TI	Hold	6.56	08/06/2019 18:56:00	E-mail	None Planned	Independent Research	Research Analyst	7.00
TGK1, Buy, #49269	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Buy	0.010	08/15/2019 21:23:00	E-mail	None Planned	Independent Research	Research Analyst	0.0150
OGK2, Buy, #49269	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Buy	0.50	08/15/2019 21:23:00	E-mail	None Planned	Independent Research	Research Analyst	0.7200
Mosenergo, Hold, #49269	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Hold	2.29	08/15/2019 21:23:00	E-mail	None Planned	Independent Research	Research Analyst	2.45
TCS Group, Hold, #48970	Mikhail Shlemov	TCS Group	Equity	US87238U2033, TCS LI	Hold	19.64	07/22/2019 11:27:00	E-mail	None Planned	Independent Research	Research Analyst	23.00
Sberbank, Buy, #48970	Mikhail Shlemov	Sberbank	Equity	RU0009029540, SBER RX	Buy	234.8	07/22/2019 11:27:00	E-mail	None Planned	Independent Research	Research Analyst	390
TBC Bank Group, Buy, #48930	Mikhail Shlemov	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Buy	1,588	07/04/2019 21:30:00	E-mail	None Planned	Independent Research	Research Analyst	1,900
BGEO Group, Buy, #48930	Mikhail Shlemov	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Buy	1,465	07/04/2019 21:30:00	E-mail	None Planned	Independent Research	Research Analyst	2,100
X5 Retail Group, Hold, #48714	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Hold	34.49	07/11/2019 18:23:00	E-mail	None Planned	Independent Research	Research Analyst	37.00
BIM, Hold, #48714	Maria Kolbina	BIM	Equity	TREBIMM00018, BIMAS TI	Hold	42.48	07/11/2019 18:23:00	E-mail	None Planned	Independent Research	Research Analyst	90.00
Gazprom Neft, Buy, #48557	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Buy	5.69	06/11/2019 15:20:00	E-mail	None Planned	Independent Research	Research Analyst	6.50
Gazprom, Hold, #48557	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Hold	3.59	06/11/2019 15:20:00	E-mail	None Planned	Independent Research	Research Analyst	3.70
Novatek, Sell, #48463	Dmitry Loukashov	Novatek	Equity	US6698881090, NVTK LI	Sell	198.0	06/05/2019 19:12:00	E-mail	None Planned	Independent Research	Research Analyst	141.00
Tatneft, Sell, #48463	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Sell	11.78	06/05/2019 19:12:00	E-mail	None Planned	Independent Research	Research Analyst	8.80
Lukoil, Hold, #48463	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	79.43	06/05/2019 19:12:00	E-mail	None Planned	Independent Research	Research Analyst	84.00
Surgutneftegas, Sell, #48463	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Sell	0.39	06/05/2019 19:12:00	E-mail	None Planned	Independent Research	Research Analyst	0.3700
InterRAO, Buy, #48343	Vladimir Sklyar	InterRAO	Equity	RU000A0JPNM1, IRAO RX	Buy	4.60	09/16/2019 17:58:00	E-mail	None Planned	Independent Research	Research Analyst	10.00
RusHydro, Buy, #48343	Vladimir Sklyar	RusHydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.54	09/16/2019 17:58:00	E-mail	None Planned	Independent Research	Research Analyst	0.6500
TGK1, Buy, #48343	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Buy	0.012	09/16/2019 17:58:00	E-mail	None Planned	Independent Research	Research Analyst	0.0160
Unipro, Hold, #48343	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	Hold	2.67	09/16/2019 17:58:00	E-mail	None Planned	Independent Research	Research Analyst	2.79
OGK2, Buy, #48343	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Buy	0.58	09/16/2019 17:58:00	E-mail	None Planned	Independent Research	Research Analyst	0.7100
Enel Russia, Buy, #48343	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Buy	0.96	09/16/2019 17:58:00	E-mail	None Planned	Independent Research	Research Analyst	1.16
Mosenergo, Hold, #48343	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Hold	2.25	09/16/2019 17:58:00	E-mail	None Planned	Independent Research	Research Analyst	2.39
LSR Group, Buy, #48325	Dmitry Glushakov	LSR Group	Equity	US50218G2066, LSRG LI	Buy	2.31	06/18/2019 17:46:00	E-mail	None Planned	Independent Research	Research Analyst	2.80
FSK, Hold, #48226	Vladimir Sklyar	FSK	Equity	RU000A0JPNN9, FEES RX	Hold	0.20	07/03/2019 21:38:00	E-mail	None Planned	Independent Research	Research Analyst	0.2000
RusHydro, Buy, #48226	Vladimir Sklyar	RusHydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.60	07/03/2019 21:38:00	E-mail	None Planned	Independent Research	Research Analyst	0.7100
TGK1, Buy, #48226	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Buy	0.010	07/03/2019 21:38:00	E-mail	None Planned	Independent Research	Research Analyst	0.0130
Unipro, Buy, #48226	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	Buy	2.62	07/03/2019 21:38:00	E-mail	None Planned	Independent Research	Research Analyst	3.23
OGK2, Hold, #48226	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Hold	0.56	07/03/2019 21:38:00	E-mail	None Planned	Independent Research	Research Analyst	0.5900
Enel Russia, Hold, #48226	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Hold	1.15	07/03/2019 21:38:00	E-mail	None Planned	Independent Research	Research Analyst	1.01
Mosenergo, Sell, #48226	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Sell	2.48	07/03/2019 21:38:00	E-mail	None Planned	Independent Research	Research Analyst	2.10
Etalon Group, Hold, #47887	Maria Kolbina	Etalon Group	Equity	US29760G1031, ETLN LI	Hold	1.90	06/03/2019 13:45:00	E-mail	None Planned	Independent Research	Research Analyst	2.00
PIK Group, Buy, #47887	Maria Kolbina	PIK Group	Equity	RU000A0JP7J7, PIKK RX	Buy	389.9	06/03/2019 13:45:00	E-mail	None Planned	Independent Research	Research Analyst	500
TBC Bank Group, Buy, #47808	Mikhail Shlemov	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Buy	1,618	05/07/2019 22:17:00	E-mail	None Planned	Independent Research	Research Analyst	2,000
PKO, Buy, #47601	Mikhail Shlemov	PKO	Equity	PLPKO0000016, PKO PW	Buy	39.76	04/26/2019 18:58:00	E-mail	None Planned	Independent Research	Research Analyst	51.00
Bank Pekao, Buy, #47601	Mikhail Shlemov	Bank Pekao	Equity	PLPEKAO00016, PEO PW	Buy	116.3	04/26/2019 18:58:00	E-mail	None Planned	Independent Research	Research Analyst	170
Santander Bank Polska, Buy, #47601	Mikhail Shlemov	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Buy	399.6	04/26/2019 18:58:00	E-mail	None Planned	Independent Research	Research Analyst	500
Alior Bank, Buy, #47601	Mikhail Shlemov	Alior Bank	Equity	PLALIOR00045, ALR PW	Buy	59.95	04/26/2019 18:58:00	E-mail	None Planned	Independent Research	Research Analyst	90.00
OTP Bank, Hold, #47601	Mikhail Shlemov	OTP Bank	Equity	HU0000061726, OTP HB	Hold	12,970	04/26/2019 18:58:00	E-mail	None Planned	Independent Research	Research Analyst	14,100
Gazprom Neft, Buy, #47274	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Buy	4.95	04/08/2019 11:04:00	E-mail	None Planned	Independent Research	Research Analyst	5.70
Tatneft, Sell, #47274	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Sell	11.21	04/08/2019 11:04:00	E-mail	None Planned	Independent Research	Research Analyst	8.60
Lukoil, Hold, #47274	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	89.67	04/08/2019 11:04:00	E-mail	None Planned	Independent Research	Research Analyst	99.00
Surgutneftegas, Hold, #47274	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Hold	0.39	04/08/2019 11:04:00	E-mail	None Planned	Independent Research	Research Analyst	0.4200
InterRAO, Buy, #47127	Vladimir Sklyar	InterRAO	Equity	RU000A0JPNM1, IRAO RX	Buy	3.97	06/04/2019 11:05:00	E-mail	None Planned	Independent Research	Research Analyst	9.20
RusHydro, Buy, #47127	Vladimir Sklyar	RusHydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.54	06/04/2019 11:05:00	E-mail	None Planned	Independent Research	Research Analyst	0.6700
TGK1, Buy, #47127	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Buy	0.0093	06/04/2019 11:05:00	E-mail	None Planned	Independent Research	Research Analyst	0.0120
Unipro, Buy, #47127	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	Buy	2.50	06/04/2019 11:05:00	E-mail	None Planned	Independent Research	Research Analyst	3.20
OGK2, Buy, #47127	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Buy	0.45	06/04/2019 11:05:00	E-mail	None Planned	Independent Research	Research Analyst	0.5600
Enel Russia, Buy, #47127	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Buy	1.11	06/04/2019 11:05:00	E-mail	None Planned	Independent Research	Research Analyst	1.30
Mosenergo, Sell, #47127	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Sell	2.28	06/04/2019 11:05:00	E-mail	None Planned	Independent Research	Research Analyst	1.92
Eurocash, Sell, #46947	Maria Kolbina	Eurocash	Equity	PLEURCH00011, EUR PW	Sell	22.58	04/05/2019 18:13:00	E-mail	None Planned	Independent Research	Research Analyst	18.00
Dino Polska SA, Hold, #46947	Maria Kolbina	Dino Polska SA	Equity	PLDINPL00011, DNP PW	Hold	126.1	04/05/2019 18:13:00	E-mail	None Planned	Independent Research	Research Analyst	140.00
PKO, Buy, #46494	Mikhail Shlemov	PKO	Equity	PLPKO0000016, PKO PW	Buy	38.90	02/25/2019 18:29:00	E-mail	None Planned	Independent Research	Research Analyst	47.00
Santander Bank Polska, Hold, #46494	Mikhail Shlemov	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Hold	377.6	02/25/2019 18:29:00	E-mail	None Planned	Independent Research	Research Analyst	430
OTP Bank, Buy, #46494	Mikhail Shlemov	OTP Bank	Equity	HU0000061726, OTP HB	Buy	11,710	02/25/2019 18:29:00	E-mail	None Planned	Independent Research	Research Analyst	14,100
Tupras, Buy, #46388	Ekaterina Rodina	Tupras	Equity	TRATUPRS91E8, TUPRS TI	Buy	144.0	02/20/2019 16:09:00	E-mail	None Planned	Independent Research	Research Analyst	164
Aygaz, Hold, #46388	Ekaterina Rodina	Aygaz	Equity	TRAAYGAZ91E0, AYGAZ TI	Hold	10.95	02/20/2019 16:09:00	E-mail	None Planned	Independent Research	Research Analyst	12.30
Dogus Otomotiv, Hold, #46270	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	Hold	5.35	03/01/2019 21:29:00	E-mail	None Planned	Independent Research	Research Analyst	6.00
Tofas, Buy, #46270	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	Buy	21.18	03/01/2019 21:29:00	E-mail	None Planned	Independent Research	Research Analyst	34.00
Severstal, Buy, #46123	Dmitry Glushakov	Severstal	Equity	US8181503025, SVST LI	Buy	15.44	02/04/2019 22:22:00	E-mail	None Planned	Independent Research	Research Analyst	17.00
InterRAO, Buy, #46016	Vladimir Sklyar	InterRAO	Equity	RU000A0JPNM1, IRAO RX	Buy	3.84	03/21/2019 11:50:00	E-mail	None Planned	Independent Research	Research Analyst	8.70
RusHydro, Buy, #46016	Vladimir Sklyar	RusHydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.51	03/21/2019 11:50:00	E-mail	None Planned	Independent Research	Research Analyst	0.6800
Unipro, Buy, #46016	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	Buy	2.59	03/21/2019 11:50:00	E-mail	None Planned	Independent Research	Research Analyst	3.21
OGK2, Buy, #46016	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Buy	0.36	03/21/2019 11:50:00	E-mail	None Planned	Independent Research	Research Analyst	0.5300
Enel Russia, Buy, #46016	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Buy	1.02	03/21/2019 11:50:00	E-mail	None Planned	Independent Research	Research Analyst	1.24
Mosenergo, Sell, #46016	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Sell	2.12	03/21/2019 11:50:00	E-mail	None Planned	Independent Research	Research Analyst	1.77
Highland Gold, Hold, #45803	Dmitry Glushakov	Highland Gold	Equity	GB0032360173, HGM LN	Hold	151.2	01/14/2019 16:10:00	E-mail	None Planned	Independent Research	Research Analyst	170
EPAM, Hold, #45710	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Hold	136.2	01/18/2019 22:16:00	E-mail	None Planned	Independent Research	Research Analyst	140.00
MD Medical Group, Buy, #45696	Maria Kolbina	MD Medical Group	Equity	US55279C2008, MDMG LI	Buy	4.70	02/12/2019 21:32:00	E-mail	None Planned	Independent Research	Research Analyst	8.00
MLP Care , Buy, #45696	Maria Kolbina	MLP Care	Equity	TREMLPC00021, MPARK TI	Buy	12.72	02/12/2019 21:32:00	E-mail	None Planned	Independent Research	Research Analyst	18.00
Medlife, Hold, #45696	Maria Kolbina	Medlife	Equity	ROMEDLACNOR6, M RO	Hold	27.00	02/12/2019 21:32:00	E-mail	None Planned	Independent Research	Research Analyst	31.00
Gazprom, Hold, #45695	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Hold	2.27	12/21/2018 13:32:00	E-mail	None Planned	Independent Research	Research Analyst	2.30
TCS Group, Buy, #45622	Mikhail Shlemov	TCS Group	Equity	US87238U2033, TCS LI	Buy	19.50	02/04/2019 21:22:00	E-mail	None Planned	Independent Research	Research Analyst	23.00
Sberbank, Buy, #45622	Mikhail Shlemov	Sberbank	Equity	RU0009029540, SBER RX	Buy	217.9	02/04/2019 21:22:00	E-mail	None Planned	Independent Research	Research Analyst	360
Nostrum Oil&Gas, Hold, #45377	Alexander Donskoy	Nostrum Oil&Gas	Equity	GB00BGP6Q951, NOG LN	Hold	172.0	11/27/2018 21:42:00	E-mail	None Planned	Independent Research	Research Analyst	149.00
Tatneft, Sell, #45358	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Sell	10.98	11/28/2018 14:53:00	E-mail	None Planned	Independent Research	Research Analyst	7.00
Norilsk Nickel, Buy, #45274	Dmitry Glushakov	Norilsk Nickel	Equity	US55315J1025, MNOD LI	Buy	17.69	11/20/2018 14:36:00	E-mail	None Planned	Independent Research	Research Analyst	25.70
Rusagro, Buy, #45220	Nikolay Kovalev	Rusagro	Equity	US7496552057, AGRO LI	Buy	10.58	11/21/2018 19:31:00	E-mail	None Planned	Independent Research	Research Analyst	14.50
FSK, Buy, #45208	Vladimir Sklyar	FSK	Equity	RU000A0JPNN9, FEES RX	Buy	0.15	11/19/2018 21:09:00	E-mail	None Planned	Independent Research	Research Analyst	0.2000
Surgutneftegas, Hold, #45159	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Hold	0.40	11/13/2018 12:27:00	E-mail	None Planned	Independent Research	Research Analyst	0.4200
OGK2, Buy, #45152	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Buy	0.34	11/19/2018 15:39:00	E-mail	None Planned	Independent Research	Research Analyst	0.4500
InterRAO, Buy, #45059	Vladimir Sklyar	InterRAO	Equity	RU000A0JPNM1, IRAO RX	Buy	4.03	11/15/2018 13:07:00	E-mail	None Planned	Independent Research	Research Analyst	8.40
Georgia Capital Plc, Hold, #45049	Maria Kolbina	Georgia Capital Plc	Equity	GB00BF4HYV08, CGEO LN	Hold	1,235	11/06/2018 20:26:00	E-mail	None Planned	Independent Research	Research Analyst	1,400
ICL Group, Hold, #45032	Elena Sakhnova	ICL Group	Equity	IL0002810146, ICL IT	Hold	2,214	11/06/2018 17:48:00	E-mail	None Planned	Independent Research	Research Analyst	2,350
RusHydro, Buy, #45018	Vladimir Sklyar	RusHydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.53	11/22/2018 15:29:00	E-mail	None Planned	Independent Research	Research Analyst	0.7100
Unipro, Buy, #45004	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	Buy	2.78	11/13/2018 21:00:00	E-mail	None Planned	Independent Research	Research Analyst	3.16
Enel Russia, Buy, #44924	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Buy	1.06	11/06/2018 11:47:00	E-mail	None Planned	Independent Research	Research Analyst	1.40
Cimsa, Hold, #44916	Vladimir Bespalov	Cimsa	Equity	TRACIMSA91F9, CIMSA TI	Hold	7.73	10/29/2018 18:59:00	E-mail	None Planned	Independent Research	Research Analyst	8.00
Akcansa, Hold, #44916	Vladimir Bespalov	Akcansa	Equity	TRAAKCNS91F3, AKCNS TI	Hold	7.60	10/29/2018 18:59:00	E-mail	None Planned	Independent Research	Research Analyst	8.00
Mail.ru Group, Hold, #44847	Vladimir Bespalov	Mail.ru Group	Equity	US5603172082, MAIL LI	Hold	26.50	10/23/2018 20:08:00	E-mail	None Planned	Independent Research	Research Analyst	30.00
Anadolu Efes, Buy, #44605	Nikolay Kovalev	Anadolu Efes	Equity	TRAAEFES91A9, AEFES TI	Buy	19.58	10/19/2018 11:39:00	E-mail	None Planned	Independent Research	Research Analyst	25.00
Aeroflot, Hold, #44603	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Hold	100.2	10/17/2018 17:34:00	E-mail	None Planned	Independent Research	Research Analyst	110.00
X5 Retail Group, Buy, #44452	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Buy	21.60	10/08/2018 21:48:00	E-mail	None Planned	Independent Research	Research Analyst	39.00
MD Medical Group, Buy, #44420	Maria Kolbina	MD Medical Group	Equity	US55279C2008, MDMG LI	Buy	5.90	10/29/2018 19:41:00	E-mail	None Planned	Independent Research	Research Analyst	10.00
Tatneft, Hold, #44338	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Hold	12.16	10/08/2018 12:37:00	E-mail	None Planned	Independent Research	Research Analyst	13.40
KAZ Minerals, Hold, #44309	Dmitry Glushakov	KAZ Minerals	Equity	GB00B0HZPV38, KAZ LN	Hold	511.8	11/20/2018 11:20:00	E-mail	None Planned	Independent Research	Research Analyst	540
Qiwi, Buy, #44277	Vladimir Bespalov	Qiwi	Equity	US74735M1080, QIWI US	Buy	13.25	09/14/2018 11:58:00	E-mail	None Planned	Independent Research	Research Analyst	25.00
Lukoil, Buy, #44261	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Buy	74.88	10/08/2018 14:46:00	E-mail	None Planned	Independent Research	Research Analyst	110.00
Sollers, Hold, #44260	Vladimir Bespalov	Sollers	Equity	RU0006914488, SVAV RX	Hold	469.0	09/12/2018 11:11:00	E-mail	None Planned	Independent Research	Research Analyst	500
OGK2, Buy, #44107	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Buy	0.34	08/30/2018 18:12:00	E-mail	None Planned	Independent Research	Research Analyst	0.6000
Sberbank, Buy, #44064	Mikhail Shlemov	Sberbank	Equity	RU0009029540, SBER RX	Buy	178.7	08/29/2018 11:58:00	E-mail	None Planned	Independent Research	Research Analyst	330
RusHydro, Buy, #44041	Vladimir Sklyar	RusHydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.63	08/29/2018 12:17:00	E-mail	None Planned	Independent Research	Research Analyst	0.9000
TMK, Buy, #43956	Ekaterina Rodina	TMK	Equity	US87260R2013, TMKS LI	Buy	4.32	08/16/2018 18:43:00	E-mail	None Planned	Independent Research	Research Analyst	6.10
InterRAO, Buy, #43908	Vladimir Sklyar	InterRAO	Equity	RU000A0JPNM1, IRAO RX	Buy	3.98	08/17/2018 15:08:00	E-mail	None Planned	Independent Research	Research Analyst	8.50
Mosenergo, Hold, #43892	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Hold	2.09	08/15/2018 18:53:00	E-mail	None Planned	Independent Research	Research Analyst	2.35
Turkish Airlines, Buy, #43840	Elena Sakhnova	Turkish Airlines	Equity	TRATHYAO91M5, THYAO TI	Buy	17.36	08/09/2018 22:44:00	E-mail	None Planned	Independent Research	Research Analyst	22.50
Unipro, Buy, #43806	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	Buy	2.67	08/14/2018 21:31:00	E-mail	None Planned	Independent Research	Research Analyst	3.21
TGK1, Buy, #43781	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Buy	0.0093	08/07/2018 11:46:00	E-mail	None Planned	Independent Research	Research Analyst	0.0130
Ford Otosan, Hold, #43760	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Hold	58.95	08/06/2018 18:26:00	E-mail	None Planned	Independent Research	Research Analyst	59.00
EPAM, Hold, #43746	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Hold	128.1	08/03/2018 11:34:00	E-mail	None Planned	Independent Research	Research Analyst	135.00
ICL Group, Hold, #43741	Elena Sakhnova	ICL Group	Equity	IL0002810146, ICL IT	Hold	1,853	08/03/2018 13:44:00	E-mail	None Planned	Independent Research	Research Analyst	2,100
NLMK, Hold, #43690	Dmitry Glushakov	NLMK	Equity	US67011E2046, NLMK LI	Hold	26.00	08/01/2018 11:50:00	E-mail	None Planned	Independent Research	Research Analyst	23.50
Nostrum Oil&Gas, Hold, #43689	Alexander Donskoy	Nostrum Oil&Gas	Equity	GB00BGP6Q951, NOG LN	Hold	200.0	08/01/2018 21:20:00	E-mail	None Planned	Independent Research	Research Analyst	217
Enel Russia, Buy, #43652	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Buy	1.23	08/02/2018 12:00:00	E-mail	None Planned	Independent Research	Research Analyst	1.80
Eurocash, Buy, #43644	Maria Kolbina	Eurocash	Equity	PLEURCH00011, EUR PW	Buy	19.50	07/27/2018 21:13:00	E-mail	None Planned	Independent Research	Research Analyst	27.00
Tofas, Buy, #43643	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	Buy	22.78	07/31/2018 19:00:00	E-mail	None Planned	Independent Research	Research Analyst	30.00
Highland Gold, Buy, #43617	Dmitry Glushakov	Highland Gold	Equity	GB0032360173, HGM LN	Buy	133.9	07/26/2018 20:01:00	E-mail	None Planned	Independent Research	Research Analyst	200
Santander Bank Polska, Hold, #43562	Mikhail Shlemov	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Hold	347.0	07/25/2018 20:49:00	E-mail	None Planned	Independent Research	Research Analyst	360
Severstal, Buy, #43510	Dmitry Glushakov	Severstal	Equity	US8181503025, SVST LI	Buy	15.35	07/20/2018 12:11:00	E-mail	None Planned	Independent Research	Research Analyst	17.00
Globaltrans, Buy, #43485	Elena Sakhnova	Globaltrans	Equity	US37949E2046, GLTR LI	Buy	10.10	07/24/2018 15:50:00	E-mail	None Planned	Independent Research	Research Analyst	14.50
InterRAO, Buy, #43295	Vladimir Sklyar	InterRAO	Equity	RU000A0JPNM1, IRAO RX	Buy	4.05	07/05/2018 21:21:00	E-mail	None Planned	Independent Research	Research Analyst	8.40
El Sewedy Electric, Buy, #43189	Vladimir Sklyar	El Sewedy Electric	Equity	EGS3G0Z1C014, SWDY EC	Buy	19.31	08/13/2018 12:49:00	E-mail	None Planned	Independent Research	Research Analyst	22.80
X5 Retail Group, Buy, #43080	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Buy	27.90	06/26/2018 17:27:00	E-mail	None Planned	Independent Research	Research Analyst	43.00
RusHydro, Buy, #42949	Vladimir Sklyar	RusHydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.70	06/08/2018 14:27:00	E-mail	None Planned	Independent Research	Research Analyst	1.00
Steppe Cement, Buy, #42909	Vladimir Bespalov	Steppe Cement	Equity	MYA004433001, STCM LN	Buy	21.50	06/06/2018 19:09:00	E-mail	None Planned	Independent Research	Research Analyst	33.00
BGEO Group, Hold, #42854	Mikhail Shlemov	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Hold	2,110	06/06/2018 19:07:00	E-mail	None Planned	Independent Research	Research Analyst	2,300
TCS Group, Buy, #42787	Mikhail Shlemov	TCS Group	Equity	US87238U2033, TCS LI	Buy	20.50	06/06/2018 17:37:00	E-mail	None Planned	Independent Research	Research Analyst	28.00
Gazprom Neft, Hold, #42678	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Hold	5.32	05/28/2018 17:17:00	E-mail	None Planned	Independent Research	Research Analyst	5.20
OGK2, Buy, #42648	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Buy	0.42	05/29/2018 11:57:00	E-mail	None Planned	Independent Research	Research Analyst	0.6300
Nostrum Oil&Gas, Hold, #42639	Alexander Donskoy	Nostrum Oil&Gas	Equity	GB00BGP6Q951, NOG LN	Hold	274.5	05/23/2018 15:59:00	E-mail	None Planned	Independent Research	Research Analyst	322
Transneft, Buy, #42626	Dmitry Loukashov	Transneft	Equity	RU0009091573, TRNFP RX	Buy	175,750	05/22/2018 20:01:00	E-mail	None Planned	Independent Research	Research Analyst	225,000
Mosenergo, Hold, #42502	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Hold	2.57	05/14/2018 21:17:00	E-mail	None Planned	Independent Research	Research Analyst	2.55
TGK1, Buy, #42501	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Buy	0.011	05/15/2018 12:05:00	E-mail	None Planned	Independent Research	Research Analyst	0.0140
EPAM, Hold, #42461	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Hold	124.3	05/10/2018 17:58:00	E-mail	None Planned	Independent Research	Research Analyst	130.00
Cimsa, Buy, #42439	Vladimir Bespalov	Cimsa	Equity	TRACIMSA91F9, CIMSA TI	Buy	12.31	05/07/2018 19:16:00	E-mail	None Planned	Independent Research	Research Analyst	16.00
Akcansa, Buy, #42439	Vladimir Bespalov	Akcansa	Equity	TRAAKCNS91F3, AKCNS TI	Buy	10.00	05/07/2018 19:16:00	E-mail	None Planned	Independent Research	Research Analyst	13.00
Sollers, Hold, #42410	Vladimir Bespalov	Sollers	Equity	RU0006914488, SVAV RX	Hold	509.0	05/04/2018 13:14:00	E-mail	None Planned	Independent Research	Research Analyst	600
Tofas, Buy, #42377	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	Buy	25.20	04/27/2018 15:35:00	E-mail	None Planned	Independent Research	Research Analyst	39.00
Enel Russia, Buy, #42330	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Buy	1.52	04/26/2018 21:57:00	E-mail	None Planned	Independent Research	Research Analyst	1.90
Santander Bank Polska, Hold, #42311	Mikhail Shlemov	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Hold	370.6	04/25/2018 11:15:00	E-mail	None Planned	Independent Research	Research Analyst	440
Sberbank, Buy, #42022	Mikhail Shlemov	Sberbank	Equity	RU0009029540, SBER RX	Buy	207.5	04/19/2018 11:57:00	E-mail	None Planned	Independent Research	Research Analyst	360
Moscow Exchange, Hold, #42019	Mikhail Shlemov	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Hold	117.0	04/04/2018 22:38:00	E-mail	None Planned	Independent Research	Research Analyst	132.00
TCS Group, Buy, #41755	Mikhail Shlemov	TCS Group	Equity	US87238U2033, TCS LI	Buy	22.75	03/14/2018 14:22:00	E-mail	None Planned	Independent Research	Research Analyst	31.00
Turkish Airlines, Buy, #41734	Elena Sakhnova	Turkish Airlines	Equity	TRATHYAO91M5, THYAO TI	Buy	17.54	03/13/2018 16:16:00	E-mail	None Planned	Independent Research	Research Analyst	23.50
Alrosa, Buy, #41655	Dmitry Glushakov	Alrosa	Equity	RU0007252813, ALRS RX	Buy	88.72	03/07/2018 20:35:00	E-mail	None Planned	Independent Research	Research Analyst	130.00
PhosAgro, Hold, #41543	Elena Sakhnova	PhosAgro	Equity	US71922G2093, PHOR LI	Hold	16.00	02/28/2018 15:21:00	E-mail	None Planned	Independent Research	Research Analyst	17.30
Ford Otosan, Hold, #41405	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Hold	57.45	02/14/2018 19:29:00	E-mail	None Planned	Independent Research	Research Analyst	62.00
Tofas, Buy, #41298	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	Buy	29.80	02/07/2018 16:05:00	E-mail	None Planned	Independent Research	Research Analyst	42.00
Norilsk Nickel, Buy, #41236	Dmitry Glushakov	Norilsk Nickel	Equity	US55315J1025, MNOD LI	Buy	20.45	02/01/2018 12:14:00	E-mail	None Planned	Independent Research	Research Analyst	22.80
BGEO Group, Hold, #41165	Mikhail Shlemov	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Hold	3,408	02/16/2018 14:17:00	E-mail	None Planned	Independent Research	Research Analyst	3,700
X5 Retail Group, Buy, #41122	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Buy	38.88	01/23/2018 21:34:00	E-mail	None Planned	Independent Research	Research Analyst	50.00
Steppe Cement, Buy, #41011	Vladimir Bespalov	Steppe Cement	Equity	MYA004433001, STCM LN	Buy	23.00	01/15/2018 20:19:00	E-mail	None Planned	Independent Research	Research Analyst	31.00
Lukoil, Buy, #40996	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Buy	65.30	01/12/2018 19:30:00	E-mail	None Planned	Independent Research	Research Analyst	80.00
Turkish Airlines, Buy, #40981	Elena Sakhnova	Turkish Airlines	Equity	TRATHYAO91M5, THYAO TI	Buy	15.36	01/23/2018 13:35:00	E-mail	None Planned	Independent Research	Research Analyst	19.00
Moscow Exchange, Hold, #40971	Mikhail Shlemov	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Hold	113.4	01/11/2018 21:20:00	E-mail	None Planned	Independent Research	Research Analyst	121.00
Cimsa, Buy, #40813	Vladimir Bespalov	Cimsa	Equity	TRACIMSA91F9, CIMSA TI	Buy	14.15	01/18/2018 12:57:00	E-mail	None Planned	Independent Research	Research Analyst	17.00
Sberbank, Buy, #40792	Mikhail Shlemov	Sberbank	Equity	RU0009029540, SBER RX	Buy	239.0	01/15/2018 12:21:00	E-mail	None Planned	Independent Research	Research Analyst	400
Aeroflot, Hold, #40705	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Hold	152.5	12/01/2017 16:58:00	E-mail	None Planned	Independent Research	Research Analyst	170
Halyk Bank, Buy, #40556	Mikhail Shlemov	Halyk Bank	Equity	US46627J3023, HSBK LI	Buy	9.48	11/17/2017 20:25:00	E-mail	None Planned	Independent Research	Research Analyst	20.00
Tofas, Buy, #40474	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	Buy	33.78	11/13/2017 16:28:00	E-mail	None Planned	Independent Research	Research Analyst	40.00
Ford Otosan, Hold, #40474	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Hold	55.55	11/13/2017 16:28:00	E-mail	None Planned	Independent Research	Research Analyst	57.00
PhosAgro, Hold, #40472	Elena Sakhnova	PhosAgro	Equity	US71922G2093, PHOR LI	Hold	14.15	11/10/2017 21:18:00	E-mail	None Planned	Independent Research	Research Analyst	16.00
Acron, Buy, #40472	Elena Sakhnova	Acron	Equity	RU0009028674, AKRN RX	Buy	3,691	11/10/2017 21:18:00	E-mail	None Planned	Independent Research	Research Analyst	4,400
GPH, Buy, #40470	Elena Sakhnova	GPH	Equity	GB00BD2ZT390, GPH LN	Buy	520.0	11/13/2017 16:25:00	E-mail	None Planned	Independent Research	Research Analyst	650
Alior Bank, Buy, #40450	Mikhail Shlemov	Alior Bank	Equity	PLALIOR00045, ALR PW	Buy	72.17	11/10/2017 12:22:00	E-mail	None Planned	Independent Research	Research Analyst	110.00
Turkish Airlines, Buy, #40445	Elena Sakhnova	Turkish Airlines	Equity	TRATHYAO91M5, THYAO TI	Buy	10.55	11/09/2017 21:32:00	E-mail	None Planned	Independent Research	Research Analyst	14.50
Polyus, Buy, #40444	Dmitry Glushakov	Polyus	Equity	US73181M1172, PLZL LI	Buy	41.00	11/09/2017 18:54:00	E-mail	None Planned	Independent Research	Research Analyst	52.00
EPAM, Hold, #40374	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Hold	99.15	11/03/2017 17:20:00	E-mail	None Planned	Independent Research	Research Analyst	105.00
Tupras, Hold, #40346	Ekaterina Rodina	Tupras	Equity	TRATUPRS91E8, TUPRS TI	Hold	136.5	11/02/2017 12:09:00	E-mail	None Planned	Independent Research	Research Analyst	142.00
Nostrum Oil&Gas, Hold, #40339	Alexander Donskoy	Nostrum Oil&Gas	Equity	GB00BGP6Q951, NOG LN	Hold	376.4	11/02/2017 12:15:00	E-mail	None Planned	Independent Research	Research Analyst	407
Magnit, Hold, #40203	Maria Kolbina	Magnit	Equity	US55953Q2021, MGNT LI	Hold	37.97	10/20/2017 20:16:00	E-mail	None Planned	Independent Research	Research Analyst	37.50
Novatek, Sell, #40146	Dmitry Loukashov	Novatek	Equity	US6698881090, NVTK LI	Sell	119.0	10/17/2017 20:45:00	E-mail	None Planned	Independent Research	Research Analyst	92.00
Gazprom Neft, Hold, #40146	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Hold	4.10	10/17/2017 20:45:00	E-mail	None Planned	Independent Research	Research Analyst	4.30
Tatneft, Hold, #40146	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Hold	7.50	10/17/2017 20:45:00	E-mail	None Planned	Independent Research	Research Analyst	7.60
Lukoil, Hold, #40146	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	52.73	10/17/2017 20:45:00	E-mail	None Planned	Independent Research	Research Analyst	55.00
Surgutneftegas, Hold, #40146	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Hold	0.52	10/17/2017 20:45:00	E-mail	None Planned	Independent Research	Research Analyst	0.5600
Gazprom, Buy, #40146	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Buy	2.22	10/17/2017 20:45:00	E-mail	None Planned	Independent Research	Research Analyst	2.60
HMS, Buy, #40046	Vladimir Bespalov	HMS	Equity	US40425X4079, HMSG LI	Buy	8.60	10/11/2017 13:28:00	E-mail	None Planned	Independent Research	Research Analyst	10.00
Sollers, Buy, #39841	Vladimir Bespalov	Sollers	Equity	RU0006914488, SVAV RX	Buy	582.0	10/06/2017 16:52:00	E-mail	None Planned	Independent Research	Research Analyst	800
EPAM, Hold, #39719	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Hold	114.8	01/25/2018 20:20:00	E-mail	None Planned	Independent Research	Research Analyst	120.00
TCS Group, Sell, #39702	Jason Hurwitz	TCS Group	Equity	US87238U2033, TCS LI	Sell	14.70	09/06/2017 20:48:00	E-mail	None Planned	Independent Research	Research Analyst	13.00
Global Ports, Hold, #39696	Elena Sakhnova	Global Ports	Equity	US37951Q2021, GLPR LI	Hold	4.19	09/06/2017 15:56:00	E-mail	None Planned	Independent Research	Research Analyst	5.00
Bank St Petersburg, Hold, #39667	Jason Hurwitz	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Hold	58.50	09/04/2017 11:15:00	E-mail	None Planned	Independent Research	Research Analyst	65.00
Globaltrans, Hold, #39601	Elena Sakhnova	Globaltrans	Equity	US37949E2046, GLTR LI	Hold	9.12	08/29/2017 21:36:00	E-mail	None Planned	Independent Research	Research Analyst	9.80
UC Rusal, Buy, #39585	Dmitry Glushakov	UC Rusal	Equity	JE00B5BCW814, 486 HK	Buy	5.27	08/29/2017 11:53:00	E-mail	None Planned	Independent Research	Research Analyst	6.70
Sberbank, Buy, #39552	Jason Hurwitz	Sberbank	Equity	RU0009029540, SBER RX	Buy	171.0	08/24/2017 12:10:00	E-mail	None Planned	Independent Research	Research Analyst	250
Halyk Bank, Buy, #39538	Jason Hurwitz	Halyk Bank	Equity	US46627J3023, HSBK LI	Buy	10.30	08/23/2017 19:59:00	E-mail	None Planned	Independent Research	Research Analyst	13.00
TBC Bank Group, Hold, #39526	Jason Hurwitz	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Hold	1,560	08/22/2017 11:51:00	E-mail	None Planned	Independent Research	Research Analyst	1,800
TMK, Hold, #39506	Ekaterina Rodina	TMK	Equity	US87260R2013, TMKS LI	Hold	4.83	08/21/2017 12:21:00	E-mail	None Planned	Independent Research	Research Analyst	5.60
OTP Bank, Hold, #39435	Jason Hurwitz	OTP Bank	Equity	HU0000061726, OTP HB	Hold	9,920	08/17/2017 11:19:00	E-mail	None Planned	Independent Research	Research Analyst	10,000
Mail.ru Group, Hold, #39403	Vladimir Bespalov	Mail.ru Group	Equity	US5603172082, MAIL LI	Hold	28.85	08/11/2017 21:04:00	E-mail	None Planned	Independent Research	Research Analyst	30.00
Magnit, Hold, #39378	Maria Kolbina	Magnit	Equity	US55953Q2021, MGNT LI	Hold	41.80	09/12/2017 19:57:00	E-mail	None Planned	Independent Research	Research Analyst	43.00
Unipro, Hold, #39365	Mikhail Rasstrigin	Unipro	Equity	RU000A0JNGA5, UPRO RX	Hold	2.34	08/09/2017 12:30:00	E-mail	None Planned	Independent Research	Research Analyst	2.60
Ford Otosan, Buy, #39329	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Buy	45.08	08/07/2017 19:20:00	E-mail	None Planned	Independent Research	Research Analyst	52.00
Yandex, Buy, #39254	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Buy	28.98	08/03/2017 18:04:00	E-mail	None Planned	Independent Research	Research Analyst	37.00
TBC Bank Group, Hold, #39246	Jason Hurwitz	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Hold	1,673	08/03/2017 21:43:00	E-mail	None Planned	Independent Research	Research Analyst	1,900
Rosseti, Buy, #39194	Mikhail Rasstrigin	Rosseti	Equity	RU000A0JPVJ0, RSTI RX	Buy	1.00	09/01/2017 18:33:00	E-mail	None Planned	Independent Research	Research Analyst	1.50
FSK, Buy, #39194	Mikhail Rasstrigin	FSK	Equity	RU000A0JPNN9, FEES RX	Buy	0.17	09/01/2017 18:33:00	E-mail	None Planned	Independent Research	Research Analyst	0.2500
EPAM, Hold, #39135	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Hold	87.26	07/25/2017 20:27:00	E-mail	None Planned	Independent Research	Research Analyst	95.00
Bank St Petersburg, Hold, #39121	Jason Hurwitz	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Hold	60.05	07/24/2017 11:24:00	E-mail	None Planned	Independent Research	Research Analyst	60.00
Turkish Airlines, Buy, #38998	Elena Sakhnova	Turkish Airlines	Equity	TRATHYAO91M5, THYAO TI	Buy	8.62	07/12/2017 19:46:00	E-mail	None Planned	Independent Research	Research Analyst	12.00
Halyk Bank, Buy, #38827	Jason Hurwitz	Halyk Bank	Equity	US46627J3023, HSBK LI	Buy	8.55	06/26/2017 11:04:00	E-mail	None Planned	Independent Research	Research Analyst	11.00
Ford Otosan, Buy, #38752	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Buy	43.32	06/16/2017 17:57:00	E-mail	None Planned	Independent Research	Research Analyst	50.00
Turkish Airlines, Buy, #38701	Elena Sakhnova	Turkish Airlines	Equity	TRATHYAO91M5, THYAO TI	Buy	7.45	06/22/2017 11:27:00	E-mail	None Planned	Independent Research	Research Analyst	9.30
TCS Group, Sell, #38572	Jason Hurwitz	TCS Group	Equity	US87238U2033, TCS LI	Sell	11.95	05/31/2017 21:43:00	E-mail	None Planned	Independent Research	Research Analyst	10.00
TBC Bank Group, Hold, #38571	Jason Hurwitz	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Hold	1,740	06/02/2017 18:16:00	E-mail	None Planned	Independent Research	Research Analyst	1,900
BGEO Group, Hold, #38571	Jason Hurwitz	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Hold	3,720	06/02/2017 18:16:00	E-mail	None Planned	Independent Research	Research Analyst	3,800
Sberbank, Buy, #38510	Jason Hurwitz	Sberbank	Equity	RU0009029540, SBER RX	Buy	166.3	05/25/2017 21:29:00	E-mail	None Planned	Independent Research	Research Analyst	220
PKO, Sell, #38471	Jason Hurwitz	PKO	Equity	PLPKO0000016, PKO PW	Sell	35.45	05/23/2017 19:30:00	E-mail	None Planned	Independent Research	Research Analyst	26.00
Santander Bank Polska, Sell, #38471	Jason Hurwitz	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Sell	347.5	05/23/2017 19:30:00	E-mail	None Planned	Independent Research	Research Analyst	280
Alior Bank, Sell, #38471	Jason Hurwitz	Alior Bank	Equity	PLALIOR00045, ALR PW	Sell	70.51	05/23/2017 19:30:00	E-mail	None Planned	Independent Research	Research Analyst	65.00
OGK2, Hold, #38415	Mikhail Rasstrigin	OGK2	Equity	RU000A0JNG55, OGKB RX	Hold	0.37	05/19/2017 11:59:00	E-mail	None Planned	Independent Research	Research Analyst	0.4000
Halyk Bank, Buy, #38401	Jason Hurwitz	Halyk Bank	Equity	US46627J3023, HSBK LI	Buy	7.65	05/17/2017 11:39:00	E-mail	None Planned	Independent Research	Research Analyst	10.00
Magnit, Hold, #38246	Maria Kolbina	Magnit	Equity	US55953Q2021, MGNT LI	Hold	34.80	05/03/2017 19:57:00	E-mail	None Planned	Independent Research	Research Analyst	37.00
TBC Bank Group, Buy, #38041	Jason Hurwitz	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Buy	1,539	04/12/2017 22:14:00	E-mail	None Planned	Independent Research	Research Analyst	2,000
BGEO Group, Buy, #38041	Jason Hurwitz	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Buy	3,384	04/12/2017 22:14:00	E-mail	None Planned	Independent Research	Research Analyst	4,000
TMK, Hold, #37814	Alexander Donskoy	TMK	Equity	US87260R2013, TMKS LI	Hold	5.35	03/27/2017 22:13:00	E-mail	None Planned	Independent Research	Research Analyst	5.70
Nostrum Oil&Gas, Hold, #37814	Alexander Donskoy	Nostrum Oil&Gas	Equity	GB00BGP6Q951, NOG LN	Hold	416.4	03/27/2017 22:13:00	E-mail	None Planned	Independent Research	Research Analyst	464
Bank St Petersburg, Hold, #37799	Jason Hurwitz	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Hold	64.40	03/23/2017 21:29:00	E-mail	None Planned	Independent Research	Research Analyst	75.00
Halyk Bank, Buy, #37656	Jason Hurwitz	Halyk Bank	Equity	US46627J3023, HSBK LI	Buy	6.81	03/14/2017 14:48:00	E-mail	None Planned	Independent Research	Research Analyst	9.00
Cimsa, Hold, #37641	Vladimir Bespalov	Cimsa	Equity	TRACIMSA91F9, CIMSA TI	Hold	16.72	03/13/2017 21:17:00	E-mail	None Planned	Independent Research	Research Analyst	15.50
Akcansa, Hold, #37641	Vladimir Bespalov	Akcansa	Equity	TRAAKCNS91F3, AKCNS TI	Hold	14.27	03/13/2017 21:17:00	E-mail	None Planned	Independent Research	Research Analyst	14.00
PKO, Sell, #37602	Jason Hurwitz	PKO	Equity	PLPKO0000016, PKO PW	Sell	32.78	03/10/2017 12:56:00	E-mail	None Planned	Independent Research	Research Analyst	30.00
Santander Bank Polska, Sell, #37602	Jason Hurwitz	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Sell	360.1	03/10/2017 12:56:00	E-mail	None Planned	Independent Research	Research Analyst	320
Alior Bank, Sell, #37602	Jason Hurwitz	Alior Bank	Equity	PLALIOR00045, ALR PW	Sell	65.98	03/10/2017 12:56:00	E-mail	None Planned	Independent Research	Research Analyst	60.00
Bank St Petersburg, Hold, #37600	Jason Hurwitz	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Hold	64.90	03/07/2017 21:46:00	E-mail	None Planned	Independent Research	Research Analyst	65.00
OTP Bank, Hold, #37583	Jason Hurwitz	OTP Bank	Equity	HU0000061726, OTP HB	Hold	8,910	03/07/2017 20:42:00	E-mail	None Planned	Independent Research	Research Analyst	9,000
MD Medical Group, Buy, #37533	Maria Kolbina	MD Medical Group	Equity	US55279C2008, MDMG LI	Buy	10.50	03/03/2017 20:55:00	E-mail	None Planned	Independent Research	Research Analyst	14.00
Mail.ru Group, Hold, #37479	Vladimir Bespalov	Mail.ru Group	Equity	US5603172082, MAIL LI	Hold	21.19	03/06/2017 19:07:00	E-mail	None Planned	Independent Research	Research Analyst	21.50
Novatek, Sell, #37456	Dmitry Loukashov	Novatek	Equity	US6698881090, NVTK LI	Sell	129.6	03/23/2017 19:04:00	E-mail	None Planned	Independent Research	Research Analyst	90.00
Gazprom Neft, Hold, #37456	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Hold	3.53	03/23/2017 19:04:00	E-mail	None Planned	Independent Research	Research Analyst	3.80
Tatneft, Sell, #37456	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Sell	6.36	03/23/2017 19:04:00	E-mail	None Planned	Independent Research	Research Analyst	5.50
Lukoil, Hold, #37456	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	53.94	03/23/2017 19:04:00	E-mail	None Planned	Independent Research	Research Analyst	60.00
Surgutneftegas, Hold, #37456	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Hold	0.51	03/23/2017 19:04:00	E-mail	None Planned	Independent Research	Research Analyst	0.5400
Gazprom, Hold, #37456	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Hold	2.25	03/23/2017 19:04:00	E-mail	None Planned	Independent Research	Research Analyst	2.40
TMK, Buy, #37453	Ekaterina Rodina	TMK	Equity	US87260R2013, TMKS LI	Buy	5.30	02/22/2017 11:52:00	E-mail	None Planned	Independent Research	Research Analyst	6.90
BGEO Group, Buy, #37434	Jason Hurwitz	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Buy	3,106	02/20/2017 22:43:00	E-mail	None Planned	Independent Research	Research Analyst	3,800
Gazprom Neft, U/R, #37284	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	U/R	3.92	02/07/2017 22:16:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
UC Rusal, U/R, #37282	Dmitry Glushakov	UC Rusal	Equity	JE00B5BCW814, 486 HK	U/R	4.44	02/07/2017 23:12:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
NCSP, Hold, #37269	Elena Sakhnova	NCSP	Equity	US67011U2087, NCSP LI	Hold	8.70	02/10/2017 11:28:00	E-mail	None Planned	Independent Research	Research Analyst	10.00
Tofas, Hold, #37249	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	Hold	26.36	02/07/2017 11:46:00	E-mail	None Planned	Independent Research	Research Analyst	26.50
Tofas, U/R, #37232	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	U/R	26.26	02/02/2017 16:57:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Magnit, Hold, #37163	Maria Kolbina	Magnit	Equity	US55953Q2021, MGNT LI	Hold	38.99	01/27/2017 22:24:00	E-mail	None Planned	Independent Research	Research Analyst	41.00
Global Ports, Hold, #37108	Elena Sakhnova	Global Ports	Equity	US37951Q2021, GLPR LI	Hold	4.31	01/25/2017 14:39:00	E-mail	None Planned	Independent Research	Research Analyst	4.50
MD Medical Group, U/R, #37089	Maria Kolbina	MD Medical Group	Equity	US55279C2008, MDMG LI	U/R	10.45	01/20/2017 21:32:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Globaltrans, Hold, #37048	Elena Sakhnova	Globaltrans	Equity	US37949E2046, GLTR LI	Hold	6.03	01/19/2017 18:22:00	E-mail	None Planned	Independent Research	Research Analyst	6.50
OTP Bank, Sell, #37029	Jason Hurwitz	OTP Bank	Equity	HU0000061726, OTP HB	Sell	8,858	01/17/2017 22:12:00	E-mail	None Planned	Independent Research	Research Analyst	8,200
Halyk Bank, Buy, #36999	Jason Hurwitz	Halyk Bank	Equity	US46627J3023, HSBK LI	Buy	6.00	01/13/2017 22:20:00	E-mail	None Planned	Independent Research	Research Analyst	8.00
PKO, Sell, #36968	Jason Hurwitz	PKO	Equity	PLPKO0000016, PKO PW	Sell	30.30	01/11/2017 21:08:00	E-mail	None Planned	Independent Research	Research Analyst	27.50
Bank Pekao, Hold, #36968	Jason Hurwitz	Bank Pekao	Equity	PLPEKAO00016, PEO PW	Hold	129.6	01/11/2017 21:08:00	E-mail	None Planned	Independent Research	Research Analyst	135.00
Santander Bank Polska, Sell, #36968	Jason Hurwitz	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Sell	324.1	01/11/2017 21:08:00	E-mail	None Planned	Independent Research	Research Analyst	280
Alior Bank, Sell, #36968	Jason Hurwitz	Alior Bank	Equity	PLALIOR00045, ALR PW	Sell	59.25	01/11/2017 21:08:00	E-mail	None Planned	Independent Research	Research Analyst	55.00
Moscow Exchange, Hold, #36957	Jason Hurwitz	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Hold	127.8	01/11/2017 14:39:00	E-mail	None Planned	Independent Research	Research Analyst	130.00
Komercni Banka, Hold, #36916	Jason Hurwitz	Komercni Banka	Equity	CZ0008019106, KOMB CK	Hold	899.9	01/09/2017 19:30:00	E-mail	None Planned	Independent Research	Research Analyst	1,000
TBC Bank Group, Hold, #36856	Jason Hurwitz	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Hold	1,540	12/20/2016 22:38:00	E-mail	None Planned	Independent Research	Research Analyst	1,750
X5 Retail Group, Buy, #36819	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Buy	30.75	12/16/2016 11:52:00	E-mail	None Planned	Independent Research	Research Analyst	45.00
Magnit, Hold, #36819	Maria Kolbina	Magnit	Equity	US55953Q2021, MGNT LI	Hold	41.00	12/16/2016 11:52:00	E-mail	None Planned	Independent Research	Research Analyst	44.00
Alrosa, Buy, #36695	Dmitry Glushakov	Alrosa	Equity	RU0007252813, ALRS RX	Buy	92.00	12/14/2016 13:27:00	E-mail	None Planned	Independent Research	Research Analyst	140.00
Halyk Bank, Buy, #36672	Jason Hurwitz	Halyk Bank	Equity	US46627J3023, HSBK LI	Buy	5.60	12/02/2016 17:53:00	E-mail	None Planned	Independent Research	Research Analyst	7.00
ERDEMIR, Sell, #36609	Dmitry Glushakov	ERDEMIR	Equity	TRAEREGL91G3, EREGL TI	Sell	4.42	12/01/2016 11:28:00	E-mail	None Planned	Independent Research	Research Analyst	3.50
TBC Bank Group, Buy, #36587	Jason Hurwitz	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	Buy	1,349	11/28/2016 18:18:00	E-mail	None Planned	Independent Research	Research Analyst	1,750
BGEO Group, Hold, #36587	Jason Hurwitz	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Hold	3,050	11/28/2016 18:18:00	E-mail	None Planned	Independent Research	Research Analyst	3,500
Aeroflot, Buy, #36550	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Buy	146.6	12/12/2016 11:17:00	E-mail	None Planned	Independent Research	Research Analyst	170
Tofas, Hold, #36462	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	Hold	21.44	11/15/2016 17:51:00	E-mail	None Planned	Independent Research	Research Analyst	22.80
Dogus Otomotiv, Hold, #36442	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	Hold	9.74	11/14/2016 19:02:00	E-mail	None Planned	Independent Research	Research Analyst	10.60
EPAM, Buy, #36388	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Buy	60.75	11/09/2016 22:10:00	E-mail	None Planned	Independent Research	Research Analyst	79.00
Ford Otosan, Buy, #36275	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Buy	31.64	11/01/2016 17:28:00	E-mail	None Planned	Independent Research	Research Analyst	36.80
Mail.ru Group, U/R, #36213	Vladimir Bespalov	Mail.ru Group	Equity	US5603172082, MAIL LI	U/R	16.80	10/26/2016 20:55:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Moscow Exchange, Hold, #36173	Jason Hurwitz	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Hold	114.7	11/03/2016 16:22:00	E-mail	None Planned	Independent Research	Research Analyst	125.00
Nostrum Oil&Gas, Hold, #36101	Alexander Donskoy	Nostrum Oil&Gas	Equity	GB00BGP6Q951, NOG LN	Hold	471.5	02/02/2017 14:30:00	E-mail	None Planned	Independent Research	Research Analyst	520
TMK, Buy, #36087	Ekaterina Rodina	TMK	Equity	US87260R2013, TMKS LI	Buy	4.30	11/19/2016 04:11:00	E-mail	None Planned	Independent Research	Research Analyst	5.80
Mail.ru Group, Hold, #35854	Vladimir Bespalov	Mail.ru Group	Equity	US5603172082, MAIL LI	Hold	16.91	11/18/2016 18:05:00	E-mail	None Planned	Independent Research	Research Analyst	18.80
Yandex, Buy, #35854	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Buy	17.61	11/18/2016 18:05:00	E-mail	None Planned	Independent Research	Research Analyst	23.30
Moscow Exchange, Hold, #35852	Jason Hurwitz	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Hold	127.7	10/04/2016 21:59:00	E-mail	None Planned	Independent Research	Research Analyst	130.00
HMS, Buy, #35834	Vladimir Bespalov	HMS	Equity	US40425X4079, HMSG LI	Buy	5.15	09/29/2016 16:52:00	E-mail	None Planned	Independent Research	Research Analyst	6.30
Qiwi, Buy, #35771	Vladimir Bespalov	Qiwi	Equity	US74735M1080, QIWI US	Buy	15.82	09/26/2016 21:52:00	E-mail	None Planned	Independent Research	Research Analyst	20.80
Aeroflot, Buy, #35724	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Buy	114.3	09/26/2016 16:51:00	E-mail	None Planned	Independent Research	Research Analyst	150
MD Medical Group, Buy, #35694	Maria Kolbina	MD Medical Group	Equity	US55279C2008, MDMG LI	Buy	8.65	09/16/2016 18:16:00	E-mail	None Planned	Independent Research	Research Analyst	10.60
Etalon Group, Buy, #35670	Maria Kolbina	Etalon Group	Equity	US29760G1031, ETLN LI	Buy	2.90	09/13/2016 21:26:00	E-mail	None Planned	Independent Research	Research Analyst	4.00
Sollers, Buy, #35648	Vladimir Bespalov	Sollers	Equity	RU0006914488, SVAV RX	Buy	456.0	09/21/2016 12:38:00	E-mail	None Planned	Independent Research	Research Analyst	630
Sollers, Buy, #35621	Vladimir Bespalov	Sollers	Equity	RU0006914488, SVAV RX	Buy	471.0	09/08/2016 22:02:00	E-mail	None Planned	Independent Research	Research Analyst	610
Severstal, Buy, #35606	Wiktor Bielski	Severstal	Equity	US8181503025, SVST LI	Buy	12.20	09/19/2016 20:42:00	E-mail	None Planned	Independent Research	Research Analyst	15.20
NLMK, Buy, #35606	Wiktor Bielski	NLMK	Equity	US67011E2046, NLMK LI	Buy	13.70	09/19/2016 20:42:00	E-mail	None Planned	Independent Research	Research Analyst	19.50
MMK, Buy, #35606	Wiktor Bielski	MMK	Equity	US5591892048, MMK LI	Buy	6.00	09/19/2016 20:42:00	E-mail	None Planned	Independent Research	Research Analyst	9.50
EVRAZ plc, Sell, #35606	Wiktor Bielski	EVRAZ plc	Equity	GB00B71N6K86, EVR LN	Sell	128.2	09/19/2016 20:42:00	E-mail	None Planned	Independent Research	Research Analyst	100.00
Norilsk Nickel, Buy, #35485	Wiktor Bielski	Norilsk Nickel	Equity	US55315J1025, MNOD LI	Buy	15.13	09/01/2016 11:50:00	E-mail	None Planned	Independent Research	Research Analyst	20.00
TBC Bank Group, U/R, #35317	Jason Hurwitz	TBC Bank Group	Equity	GB00BYT18307, TBCG LN	U/R	14.58	08/15/2016 12:32:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Akcansa, U/R, #35290	Vladimir Bespalov	Akcansa	Equity	TRAAKCNS91F3, AKCNS TI	U/R	13.46	08/11/2016 15:03:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Highland Gold, Sell, #35262	Wiktor Bielski	Highland Gold	Equity	GB0032360173, HGM LN	Sell	142.5	08/11/2016 15:05:00	E-mail	None Planned	Independent Research	Research Analyst	100.00
Aygaz, Hold, #35239	Ekaterina Rodina	Aygaz	Equity	TRAAYGAZ91E0, AYGAZ TI	Hold	11.75	08/08/2016 19:24:00	E-mail	None Planned	Independent Research	Research Analyst	15.00
NCSP, U/R, #35186	Elena Sakhnova	NCSP	Equity	US67011U2087, NCSP LI	U/R	4.75	08/04/2016 15:14:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Rusagro, Buy, #35162	Nikolay Kovalev	Rusagro	Equity	US7496552057, AGRO LI	Buy	13.00	09/30/2016 16:52:00	E-mail	None Planned	Independent Research	Research Analyst	19.50
Bank Pekao, Hold, #35057	Jason Hurwitz	Bank Pekao	Equity	PLPEKAO00016, PEO PW	Hold	128.0	07/26/2016 21:16:00	E-mail	None Planned	Independent Research	Research Analyst	130.00
Magnit, Hold, #35047	Maria Kolbina	Magnit	Equity	US55953Q2021, MGNT LI	Hold	35.90	07/25/2016 17:19:00	E-mail	None Planned	Independent Research	Research Analyst	41.00
Ford Otosan, Buy, #35031	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Buy	30.10	07/25/2016 17:09:00	E-mail	None Planned	Independent Research	Research Analyst	37.20
BGEO Group, Sell, #34962	Jason Hurwitz	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Sell	2,750	07/19/2016 18:05:00	E-mail	None Planned	Independent Research	Research Analyst	2,500
Steppe Cement, Hold, #34918	Vladimir Bespalov	Steppe Cement	Equity	MYA004433001, STCM LN	Hold	24.75	07/14/2016 19:01:00	E-mail	None Planned	Independent Research	Research Analyst	29.00
Aeroflot, Buy, #34758	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Buy	86.48	07/07/2016 11:26:00	E-mail	None Planned	Independent Research	Research Analyst	120.00
EPAM, Buy, #34753	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Buy	61.80	06/28/2016 17:57:00	E-mail	None Planned	Independent Research	Research Analyst	85.00
MD Medical Group, Buy, #34703	Maria Kolbina	MD Medical Group	Equity	US55279C2008, MDMG LI	Buy	6.06	06/24/2016 21:29:00	E-mail	None Planned	Independent Research	Research Analyst	7.50
LSR Group, Buy, #34686	Maria Kolbina	LSR Group	Equity	US50218G2066, LSRG LI	Buy	2.74	07/01/2016 21:42:00	E-mail	None Planned	Independent Research	Research Analyst	4.00
Etalon Group, Buy, #34686	Maria Kolbina	Etalon Group	Equity	US29760G1031, ETLN LI	Buy	2.35	07/01/2016 21:42:00	E-mail	None Planned	Independent Research	Research Analyst	3.00
TCS Group, Sell, #34630	Jason Hurwitz	TCS Group	Equity	US87238U2033, TCS LI	Sell	5.30	06/16/2016 16:41:00	E-mail	None Planned	Independent Research	Research Analyst	4.00
HMS, Buy, #34597	Vladimir Bespalov	HMS	Equity	US40425X4079, HMSG LI	Buy	4.75	06/10/2016 21:50:00	E-mail	None Planned	Independent Research	Research Analyst	5.80
Globaltrans, Buy, #34567	Elena Sakhnova	Globaltrans	Equity	US37949E2046, GLTR LI	Buy	4.20	06/15/2016 22:13:00	E-mail	None Planned	Independent Research	Research Analyst	5.00
Turkiye Vakiflar Bankasi, Buy, #34521	Akin Tuzun	Turkiye Vakiflar Bankasi	Equity	TREVKFB00019, VAKBN TI	Buy	4.49	06/06/2016 17:55:00	E-mail	None Planned	Independent Research	Research Analyst	5.60
Turkiye Halk Bankasi AS, Buy, #34521	Akin Tuzun	Turkiye Halk Bankasi AS	Equity	TRETHAL00019, HALKB TI	Buy	9.07	06/06/2016 17:55:00	E-mail	None Planned	Independent Research	Research Analyst	14.50
Yapi ve Kredi Bankasi, Hold, #34521	Akin Tuzun	Yapi ve Kredi Bankasi	Equity	TRAYKBNK91N6, YKBNK TI	Hold	4.05	06/06/2016 17:55:00	E-mail	None Planned	Independent Research	Research Analyst	4.70
Turkiye Is Bankasi, Buy, #34521	Akin Tuzun	Turkiye Is Bankasi	Equity	TRAISCTR91N2, ISCTR TI	Buy	4.46	06/06/2016 17:55:00	E-mail	None Planned	Independent Research	Research Analyst	6.30
Garanti Bank, Buy, #34521	Akin Tuzun	Garanti Bank	Equity	TRAGARAN91N1, GARAN TI	Buy	7.58	06/06/2016 17:55:00	E-mail	None Planned	Independent Research	Research Analyst	9.20
Akbank, Hold, #34521	Akin Tuzun	Akbank	Equity	TRAAKBNK91N6, AKBNK TI	Hold	8.00	06/06/2016 17:55:00	E-mail	None Planned	Independent Research	Research Analyst	9.20
Halyk Bank, Hold, #34473	Jason Hurwitz	Halyk Bank	Equity	US46627J3023, HSBK LI	Hold	4.81	05/31/2016 21:27:00	E-mail	None Planned	Independent Research	Research Analyst	5.50
PKO, Sell, #34391	Jason Hurwitz	PKO	Equity	PLPKO0000016, PKO PW	Sell	24.80	05/31/2016 11:18:00	E-mail	None Planned	Independent Research	Research Analyst	22.00
Santander Bank Polska, Sell, #34391	Jason Hurwitz	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Sell	263.0	05/31/2016 11:18:00	E-mail	None Planned	Independent Research	Research Analyst	240
Alior Bank, Sell, #34391	Jason Hurwitz	Alior Bank	Equity	PLALIOR00045, ALR PW	Sell	53.98	05/31/2016 11:18:00	E-mail	None Planned	Independent Research	Research Analyst	45.00
Polymetal International, Hold, #34379	Wiktor Bielski	Polymetal International	Equity	JE00B6T5S470, POLY LN	Hold	817.5	05/31/2016 19:11:00	E-mail	None Planned	Independent Research	Research Analyst	800
Moscow Exchange, Hold, #34357	Jason Hurwitz	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Hold	104.0	05/23/2016 17:07:00	E-mail	None Planned	Independent Research	Research Analyst	111.00
ICL Group, Hold, #34327	Elena Sakhnova	ICL Group	Equity	IL0002810146, ICL IT	Hold	1,525	05/19/2016 18:33:00	E-mail	None Planned	Independent Research	Research Analyst	1,600
Dogus Otomotiv, Buy, #34289	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	Buy	11.10	05/17/2016 16:10:00	E-mail	None Planned	Independent Research	Research Analyst	13.70
PhosAgro, Hold, #34260	Elena Sakhnova	PhosAgro	Equity	US71922G2093, PHOR LI	Hold	15.40	05/16/2016 11:54:00	E-mail	None Planned	Independent Research	Research Analyst	16.00
Magnit, Buy, #34216	Maria Kolbina	Magnit	Equity	US55953Q2021, MGNT LI	Buy	33.06	05/11/2016 19:35:00	E-mail	None Planned	Independent Research	Research Analyst	41.00
Severstal, Buy, #34189	Wiktor Bielski	Severstal	Equity	US8181503025, SVST LI	Buy	9.97	06/20/2016 15:04:00	E-mail	None Planned	Independent Research	Research Analyst	13.30
NLMK, Buy, #34189	Wiktor Bielski	NLMK	Equity	US67011E2046, NLMK LI	Buy	12.05	06/20/2016 15:04:00	E-mail	None Planned	Independent Research	Research Analyst	16.70
MMK, Buy, #34189	Wiktor Bielski	MMK	Equity	US5591892048, MMK LI	Buy	4.90	06/20/2016 15:04:00	E-mail	None Planned	Independent Research	Research Analyst	7.80
EVRAZ plc, Sell, #34189	Wiktor Bielski	EVRAZ plc	Equity	GB00B71N6K86, EVR LN	Sell	125.1	06/20/2016 15:04:00	E-mail	None Planned	Independent Research	Research Analyst	80.00
Komercni Banka, Hold, #34186	Jason Hurwitz	Komercni Banka	Equity	CZ0008019106, KOMB CK	Hold	920.0	05/12/2016 17:56:00	E-mail	None Planned	Independent Research	Research Analyst	1,000
Yandex, Hold, #34128	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Hold	20.18	05/04/2016 22:12:00	E-mail	None Planned	Independent Research	Research Analyst	21.40
MD Medical Group, Hold, #34110	Maria Kolbina	MD Medical Group	Equity	US55279C2008, MDMG LI	Hold	5.40	04/29/2016 14:34:00	E-mail	None Planned	Independent Research	Research Analyst	5.60
MMK, U/R, #34054	Wiktor Bielski	MMK	Equity	US5591892048, MMK LI	U/R	4.98	04/26/2016 12:42:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Yandex, U/R, #34014	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	U/R	18.21	04/21/2016 20:52:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Garanti Bank, U/R, #34004	Akin Tuzun	Garanti Bank	Equity	TRAGARAN91N1, GARAN TI	U/R	8.74	04/21/2016 14:06:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Akbank, U/R, #34004	Akin Tuzun	Akbank	Equity	TRAAKBNK91N6, AKBNK TI	U/R	8.51	04/21/2016 14:06:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Severstal, U/R, #33981	Wiktor Bielski	Severstal	Equity	US8181503025, SVST LI	U/R	11.62	04/20/2016 18:44:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
X5 Retail Group, Buy, #33978	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Buy	20.30	04/19/2016 19:11:00	E-mail	None Planned	Independent Research	Research Analyst	33.00
Halyk Bank, Buy, #33958	Jason Hurwitz	Halyk Bank	Equity	US46627J3023, HSBK LI	Buy	4.05	04/18/2016 22:35:00	E-mail	None Planned	Independent Research	Research Analyst	5.00
OTP Bank, Sell, #33938	Jason Hurwitz	OTP Bank	Equity	HU0000061726, OTP HB	Sell	7,203	04/15/2016 21:01:00	E-mail	None Planned	Independent Research	Research Analyst	6,500
Sberbank, Sell, #33896	Jason Hurwitz	Sberbank	Equity	RU0009029540, SBER RX	Sell	118.0	04/13/2016 20:21:00	E-mail	None Planned	Independent Research	Research Analyst	105.00
Novatek, Sell, #33874	Dmitry Loukashov	Novatek	Equity	US6698881090, NVTK LI	Sell	92.30	04/27/2016 15:24:00	E-mail	None Planned	Independent Research	Research Analyst	85.00
Gazprom Neft, Hold, #33874	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Hold	2.31	04/27/2016 15:24:00	E-mail	None Planned	Independent Research	Research Analyst	2.60
Tatneft, Sell, #33874	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Sell	5.30	04/27/2016 15:24:00	E-mail	None Planned	Independent Research	Research Analyst	4.50
Lukoil, Hold, #33874	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	42.86	04/27/2016 15:24:00	E-mail	None Planned	Independent Research	Research Analyst	46.00
Surgutneftegas, Hold, #33874	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Hold	0.54	04/27/2016 15:24:00	E-mail	None Planned	Independent Research	Research Analyst	0.6000
Gazprom, Hold, #33874	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Hold	2.41	04/27/2016 15:24:00	E-mail	None Planned	Independent Research	Research Analyst	2.60
Magnit, Hold, #33858	Maria Kolbina	Magnit	Equity	US55953Q2021, MGNT LI	Hold	39.00	04/11/2016 17:06:00	E-mail	None Planned	Independent Research	Research Analyst	41.00
Alrosa, Buy, #33818	Wiktor Bielski	Alrosa	Equity	RU0007252813, ALRS RX	Buy	70.10	04/11/2016 16:43:00	E-mail	None Planned	Independent Research	Research Analyst	105.00
Norilsk Nickel, Buy, #33795	Wiktor Bielski	Norilsk Nickel	Equity	US55315J1025, MNOD LI	Buy	12.40	04/07/2016 17:59:00	E-mail	None Planned	Independent Research	Research Analyst	18.00
EPAM, Hold, #33766	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Hold	76.99	04/04/2016 19:11:00	E-mail	None Planned	Independent Research	Research Analyst	83.00
TCS Group, Sell, #33730	Jason Hurwitz	TCS Group	Equity	US87238U2033, TCS LI	Sell	3.31	03/31/2016 21:50:00	E-mail	None Planned	Independent Research	Research Analyst	2.75
Dogus Otomotiv, Hold, #33715	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	Hold	13.29	04/05/2016 18:29:00	E-mail	None Planned	Independent Research	Research Analyst	13.50
Tofas, Sell, #33715	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	Sell	23.72	04/05/2016 18:29:00	E-mail	None Planned	Independent Research	Research Analyst	21.20
Ford Otosan, Hold, #33715	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Hold	36.94	04/05/2016 18:29:00	E-mail	None Planned	Independent Research	Research Analyst	37.20
ICL Group, U/R, #33694	Elena Sakhnova	ICL Group	Equity	IL0002810146, ICL IT	U/R	1,590	03/28/2016 19:03:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Uralkali, U/R, #33693	Elena Sakhnova	Uralkali	Equity	RU0007661302, URKA RX	U/R	2.43	03/28/2016 20:08:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Polymetal International, U/R, #33679	Wiktor Bielski	Polymetal International	Equity	JE00B6T5S470, POLY LN	U/R	704.0	03/28/2016 12:01:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Cimsa, Hold, #33658	Vladimir Bespalov	Cimsa	Equity	TRACIMSA91F9, CIMSA TI	Hold	16.70	03/28/2016 21:54:00	E-mail	None Planned	Independent Research	Research Analyst	17.80
Akcansa, Hold, #33658	Vladimir Bespalov	Akcansa	Equity	TRAAKCNS91F3, AKCNS TI	Hold	15.33	03/28/2016 21:54:00	E-mail	None Planned	Independent Research	Research Analyst	16.60
M.video, Buy, #33657	Maria Kolbina	M.video	Equity	RU000A0JPGA0, MVID RX	Buy	259.0	03/24/2016 23:04:00	E-mail	None Planned	Independent Research	Research Analyst	350
Sberbank, Sell, #33643	Jason Hurwitz	Sberbank	Equity	RU0009029540, SBER RX	Sell	109.1	03/24/2016 21:28:00	E-mail	None Planned	Independent Research	Research Analyst	100.00
Bank St Petersburg, Buy, #33628	Jason Hurwitz	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Buy	44.15	03/22/2016 22:15:00	E-mail	None Planned	Independent Research	Research Analyst	55.00
PhosAgro, U/R, #33626	Elena Sakhnova	PhosAgro	Equity	US71922G2093, PHOR LI	U/R	14.20	03/22/2016 21:15:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
PKO, Sell, #33605	Jason Hurwitz	PKO	Equity	PLPKO0000016, PKO PW	Sell	27.41	03/21/2016 22:08:00	E-mail	None Planned	Independent Research	Research Analyst	24.00
Bank Pekao, Sell, #33605	Jason Hurwitz	Bank Pekao	Equity	PLPEKAO00016, PEO PW	Sell	160.9	03/21/2016 22:08:00	E-mail	None Planned	Independent Research	Research Analyst	140.00
Santander Bank Polska, Sell, #33605	Jason Hurwitz	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Sell	294.2	03/21/2016 22:08:00	E-mail	None Planned	Independent Research	Research Analyst	270
Alior Bank, Sell, #33605	Jason Hurwitz	Alior Bank	Equity	PLALIOR00045, ALR PW	Sell	68.89	03/21/2016 22:08:00	E-mail	None Planned	Independent Research	Research Analyst	60.00
Aeroflot, Buy, #33583	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Buy	73.69	03/23/2016 11:19:00	E-mail	None Planned	Independent Research	Research Analyst	100.00
Halyk Bank, Hold, #33545	Jason Hurwitz	Halyk Bank	Equity	US46627J3023, HSBK LI	Hold	4.55	03/29/2016 21:31:00	E-mail	None Planned	Independent Research	Research Analyst	5.00
Moscow Exchange, Hold, #33500	Jason Hurwitz	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Hold	101.9	03/11/2016 22:10:00	E-mail	None Planned	Independent Research	Research Analyst	100.00
Bashneft, U/R, #33487	Dmitry Loukashov	Bashneft	Equity	RU0007976957, BANE RX	U/R	37.78	03/11/2016 11:12:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
UC Rusal, Hold, #33464	Wiktor Bielski	UC Rusal	Equity	JE00B5BCW814, 486 HK	Hold	2.73	03/10/2016 22:05:00	E-mail	None Planned	Independent Research	Research Analyst	3.00
Rusagro, Buy, #33404	Nikolay Kovalev	Rusagro	Equity	US7496552057, AGRO LI	Buy	17.15	03/02/2016 22:10:00	E-mail	None Planned	Independent Research	Research Analyst	21.00
Eurocash, U/R, #33348	Maria Kolbina	Eurocash	Equity	PLEURCH00011, EUR PW	U/R	53.85	02/25/2016 22:20:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Global Ports, Hold, #33332	Elena Sakhnova	Global Ports	Equity	US37951Q2021, GLPR LI	Hold	2.90	03/09/2016 11:06:00	E-mail	None Planned	Independent Research	Research Analyst	3.10
BGEO Group, Sell, #33298	Jason Hurwitz	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Sell	1,960	03/14/2016 23:05:00	E-mail	None Planned	Independent Research	Research Analyst	1,800
Dogus Otomotiv, Buy, #33183	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	Buy	10.09	02/12/2016 16:09:00	E-mail	None Planned	Independent Research	Research Analyst	12.80
Moscow Exchange, Buy, #33150	Jason Hurwitz	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Buy	91.14	02/09/2016 20:14:00	E-mail	None Planned	Independent Research	Research Analyst	105.00
EPAM, Buy, #33138	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Buy	60.92	02/08/2016 20:54:00	E-mail	None Planned	Independent Research	Research Analyst	83.00
PhosAgro, Hold, #33120	Elena Sakhnova	PhosAgro	Equity	US71922G2093, PHOR LI	Hold	14.10	04/04/2016 22:46:00	E-mail	None Planned	Independent Research	Research Analyst	15.00
Acron, Hold, #33120	Elena Sakhnova	Acron	Equity	RU0009028674, AKRN RX	Hold	54.79	04/04/2016 22:46:00	E-mail	None Planned	Independent Research	Research Analyst	54.00
ICL Group, Hold, #33120	Elena Sakhnova	ICL Group	Equity	IL0002810146, ICL IT	Hold	1,635	04/04/2016 22:46:00	E-mail	None Planned	Independent Research	Research Analyst	1,700
Qiwi, Buy, #33081	Vladimir Bespalov	Qiwi	Equity	US74735M1080, QIWI US	Buy	13.98	02/04/2016 17:02:00	E-mail	None Planned	Independent Research	Research Analyst	21.20
Magnit, Buy, #32987	Maria Kolbina	Magnit	Equity	US55953Q2021, MGNT LI	Buy	34.83	01/28/2016 12:35:00	E-mail	None Planned	Independent Research	Research Analyst	43.00
Bank St Petersburg, Hold, #32975	Jason Hurwitz	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Hold	43.20	02/22/2016 13:45:00	E-mail	None Planned	Independent Research	Research Analyst	45.00
Sberbank, Hold, #32975	Jason Hurwitz	Sberbank	Equity	RU0009029540, SBER RX	Hold	102.7	02/22/2016 13:45:00	E-mail	None Planned	Independent Research	Research Analyst	105.00
Severstal, U/R, #32968	Wiktor Bielski	Severstal	Equity	US8181503025, SVST LI	U/R	8.21	01/26/2016 18:43:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
Yandex, Buy, #32967	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Buy	13.21	01/29/2016 22:19:00	E-mail	None Planned	Independent Research	Research Analyst	17.00
Severstal, Buy, #32900	Wiktor Bielski	Severstal	Equity	US8181503025, SVST LI	Buy	9.62	03/22/2016 17:04:00	E-mail	None Planned	Independent Research	Research Analyst	11.80
NLMK, Buy, #32900	Wiktor Bielski	NLMK	Equity	US67011E2046, NLMK LI	Buy	11.80	03/22/2016 17:04:00	E-mail	None Planned	Independent Research	Research Analyst	14.40
MMK, Buy, #32900	Wiktor Bielski	MMK	Equity	US5591892048, MMK LI	Buy	4.00	03/22/2016 17:04:00	E-mail	None Planned	Independent Research	Research Analyst	4.95
EVRAZ plc, Sell, #32900	Wiktor Bielski	EVRAZ plc	Equity	GB00B71N6K86, EVR LN	Sell	89.60	03/22/2016 17:04:00	E-mail	None Planned	Independent Research	Research Analyst	55.00
Magnit, U/R, #32898	Maria Kolbina	Magnit	Equity	US55953Q2021, MGNT LI	U/R	32.50	01/20/2016 20:32:00	E-mail	None Planned	Independent Research	Research Analyst	n/a
BGEO Group, Hold, #32869	Jason Hurwitz	BGEO Group	Equity	GB00BF4HYT85, BGEO LN	Hold	1,695	01/18/2016 23:04:00	E-mail	None Planned	Independent Research	Research Analyst	1,750
Sberbank, Hold, #32863	Jason Hurwitz	Sberbank	Equity	RU0009029540, SBER RX	Hold	87.27	01/18/2016 21:46:00	E-mail	None Planned	Independent Research	Research Analyst	100.00
Globaltrans, Buy, #32860	Elena Sakhnova	Globaltrans	Equity	US37949E2046, GLTR LI	Buy	3.56	02/26/2016 19:09:00	E-mail	None Planned	Independent Research	Research Analyst	6.70
Steppe Cement, Buy, #32848	Vladimir Bespalov	Steppe Cement	Equity	MYA004433001, STCM LN	Buy	15.50	01/18/2016 21:04:00	E-mail	None Planned	Independent Research	Research Analyst	26.00
PKO, Hold, #32819	Jason Hurwitz	PKO	Equity	PLPKO0000016, PKO PW	Hold	24.97	01/14/2016 21:33:00	E-mail	None Planned	Independent Research	Research Analyst	25.00
Bank Pekao, Hold, #32819	Jason Hurwitz	Bank Pekao	Equity	PLPEKAO00016, PEO PW	Hold	137.5	01/14/2016 21:33:00	E-mail	None Planned	Independent Research	Research Analyst	130.00
Santander Bank Polska, Hold, #32819	Jason Hurwitz	Santander Bank Polska	Equity	PLBZ00000044, SPL PW	Hold	264.7	01/14/2016 21:33:00	E-mail	None Planned	Independent Research	Research Analyst	280
Alior Bank, Hold, #32819	Jason Hurwitz	Alior Bank	Equity	PLALIOR00045, ALR PW	Hold	59.82	01/14/2016 21:33:00	E-mail	None Planned	Independent Research	Research Analyst	65.00
Komercni Banka, Hold, #32791	Jason Hurwitz	Komercni Banka	Equity	CZ0008019106, KOMB CK	Hold	1,020	01/13/2016 16:21:00	E-mail	None Planned	Independent Research	Research Analyst	1,040
Turkiye Vakiflar Bankasi, Buy, #32759	Akin Tuzun	Turkiye Vakiflar Bankasi	Equity	TREVKFB00019, VAKBN TI	Buy	3.96	02/24/2016 18:28:00	E-mail	None Planned	Independent Research	Research Analyst	5.30
Turkiye Halk Bankasi AS, Buy, #32759	Akin Tuzun	Turkiye Halk Bankasi AS	Equity	TRETHAL00019, HALKB TI	Buy	9.60	02/24/2016 18:28:00	E-mail	None Planned	Independent Research	Research Analyst	14.00
Yapi ve Kredi Bankasi, Buy, #32759	Akin Tuzun	Yapi ve Kredi Bankasi	Equity	TRAYKBNK91N6, YKBNK TI	Buy	3.66	02/24/2016 18:28:00	E-mail	None Planned	Independent Research	Research Analyst	4.50
Turkiye Is Bankasi, Buy, #32759	Akin Tuzun	Turkiye Is Bankasi	Equity	TRAISCTR91N2, ISCTR TI	Buy	4.37	02/24/2016 18:28:00	E-mail	None Planned	Independent Research	Research Analyst	6.00
Garanti Bank, Buy, #32759	Akin Tuzun	Garanti Bank	Equity	TRAGARAN91N1, GARAN TI	Buy	7.12	02/24/2016 18:28:00	E-mail	None Planned	Independent Research	Research Analyst	8.70
Akbank, Buy, #32759	Akin Tuzun	Akbank	Equity	TRAAKBNK91N6, AKBNK TI	Buy	7.14	02/24/2016 18:28:00	E-mail	None Planned	Independent Research	Research Analyst	8.70
Aeroflot, Buy, #32752	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Buy	0.69	02/24/2016 17:39:00	E-mail	None Planned	Independent Research	Research Analyst	1.22
Novatek, Sell, #32566	Dmitry Loukashov	Novatek	Equity	US6698881090, NVTK LI	Sell	81.35	02/01/2016 11:08:00	E-mail	None Planned	Independent Research	Research Analyst	71.00
Gazprom Neft, Hold, #32566	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Hold	1.90	02/01/2016 11:08:00	E-mail	None Planned	Independent Research	Research Analyst	2.00
Tatneft, Sell, #32566	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Sell	4.28	02/01/2016 11:08:00	E-mail	None Planned	Independent Research	Research Analyst	3.30
Lukoil, Hold, #32566	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	32.70	02/01/2016 11:08:00	E-mail	None Planned	Independent Research	Research Analyst	33.00
Surgutneftegas, Hold, #32566	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Hold	0.49	02/01/2016 11:08:00	E-mail	None Planned	Independent Research	Research Analyst	0.5000
Bashneft, Hold, #32566	Dmitry Loukashov	Bashneft	Equity	RU0007976957, BANE RX	Hold	26.21	02/01/2016 11:08:00	E-mail	None Planned	Independent Research	Research Analyst	28.00
Gazprom, Hold, #32566	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Hold	1.79	02/01/2016 11:08:00	E-mail	None Planned	Independent Research	Research Analyst	1.80
NCSP, Buy, #31204	Elena Sakhnova	NCSP	Equity	US67011U2087, NCSP LI	Buy	3.85	02/01/2016 11:07:00	E-mail	None Planned	Independent Research	Research Analyst	7.50
TGK1, Hold, #54890	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Hold	0.012	05/25/2020 11:10:00	E-mail	None Planned	Independent Research	Research Analyst	0.0130
El Sewedy Electric, Buy, #54829	Vladimir Sklyar	El Sewedy Electric	Equity	EGS3G0Z1C014, SWDY EC	Buy	7.28	05/22/2020 11:13:00	E-mail	None Planned	Independent Research	Research Analyst	10.000000
X5 Retail Group, Hold, #54962	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Hold	30.50	05/21/2020 13:48:00	E-mail	None Planned	Independent Research	Research Analyst	33.000000
NLMK, ord. - Short Trade Ideas Portfolio Inclusion 2020-05-08 12:00	Ilya Piterskiy	NLMK	Equity	RU0009046452	Include to Short Trade Ideas portfolio	124.9	05/08/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		90 trading days
X5 Retail, GDR - Short Trade Ideas Portfolio Inclusion 2020-05-08 12:00	Ilya Piterskiy	X5 Retail Group	Equity	US98387E2054	Include to Short Trade Ideas portfolio	30.30	05/08/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		90 trading days
Gazprom Neft, ord. - Long Trade Ideas Portfolio Inclusion 2020-05-08 12:00	Ilya Piterskiy	Gazprom Neft	Equity	RU0009062467	Include to Long Trade Ideas portfolio	4.45	05/08/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		90 trading days
MTS, ADR - Long Trade Ideas Portfolio Inclusion 2020-05-08 12:00	Ilya Piterskiy	MTS	Equity	US6074091090	Include to Long Trade Ideas portfolio	8.59	05/08/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		90 trading days
Mail.ru, GDR - Long Trade Ideas Portfolio Inclusion 2020-05-08 12:00	Ilya Piterskiy	Mail.ru Group	Equity	US5603172082	Include to Long Trade Ideas portfolio	18.14	05/08/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		90 trading days
NorNickel, ord. - Long Trade Ideas Portfolio Inclusion 2020-05-08 12:00	Ilya Piterskiy	Norilsk Nickel	Equity	RU0007288411	Include to Long Trade Ideas portfolio	20,224	05/08/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		90 trading days
Moscow Exchange, Buy, #53133	Mikhail Shlemov	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Buy	116.5	05/15/2020 19:37:00	E-mail	None Planned	Independent Research	Research Analyst	150.000000
Turkish Airlines, Hold, #53414	Elena Sakhnova	Turkish Airlines	Equity	TRATHYAO91M5, THYAO TI	Hold	10.54	05/15/2020 19:16:00	E-mail	None Planned	Independent Research	Research Analyst	11.500000
BIM, Hold, #54856	Maria Kolbina	BIM	Equity	TREBIMM00018, BIMAS TI	Hold	54.20	05/15/2020 19:03:00	E-mail	None Planned	Independent Research	Research Analyst	60.000000
Coca-Cola Hellenic , Buy, #54760	Nikolay Kovalev	Coca-Cola Hellenic	Equity	CH0198251305, CCH LN	Buy	1,825	05/14/2020 22:22:00	E-mail	None Planned	Independent Research	Research Analyst	2700.000000
EPAM, Hold, #54677	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Hold	227.0	05/08/2020 16:39:00	E-mail	None Planned	Independent Research	Research Analyst	240.000000
Unipro, Hold, #54640	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	Hold	2.81	05/08/2020 11:29:00	E-mail	None Planned	Independent Research	Research Analyst	2.700000
Spread trade for Aeroflot	Elena Sakhnova	Aeroflot,	Equity	RU0009062285, DE0008232125, IE00BYTBXV33, ES0177542018	Underperform	74.38, 7.93, 9.97, 220.10	04/28/2020 14:59:21	E-mail	None Planned	Independent Research	Research Analyst	N/A	Pair trade: sell Aeroflot and buy basket of Lufthansa, Ryanair, IAG	1 month
CD PROJEKT S.A., Buy, #54453	Anna Kazaryan	CD PROJEKT S.A.	Equity	PLOPTTC00011, CDR PW	Buy	357.5	05/06/2020 21:42:00	E-mail	None Planned	Independent Research	Research Analyst	435.000000
Komercni Banka, Hold, #54609	Mikhail Shlemov	Komercni Banka	Equity	CZ0008019106, KOMB CK	Hold	540.0	05/06/2020 21:05:00	E-mail	None Planned	Independent Research	Research Analyst	640.000000
EPAM, U/R, #54571	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	U/R	223.4	04/30/2020 18:25:00	E-mail	None Planned	Independent Research	Research Analyst
Enel Russia, Hold, #54448	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Hold	0.93	04/29/2020 11:57:00	E-mail	None Planned	Independent Research	Research Analyst	1.000000
Transneft, Buy, #54454	Dmitry Loukashov	Transneft	Equity	RU0009091573, TRNFP RX	Buy	137,000	04/28/2020 12:15:00	E-mail	None Planned	Independent Research	Research Analyst	203000.000000
Tupras, Hold, #54372	Ekaterina Rodina	Tupras	Equity	TRATUPRS91E8, TUPRS TI	Hold	85.35	04/23/2020 22:42:00	E-mail	None Planned	Independent Research	Research Analyst	89.000000
DP Eurasia, Hold, #54345	Maria Kolbina	DP Eurasia	Equity	NL0012328801, DPEU LN	Hold	46.80	04/23/2020 22:05:00	E-mail	None Planned	Independent Research	Research Analyst	50.000000
Detsky Mir, U/R, #54184	Maria Kolbina	Detsky Mir	Equity	RU000A0JSQ90, DSKY RX	U/R	100.5	04/15/2020 22:13:00	E-mail	None Planned	Independent Research	Research Analyst
Aeroflot, Hold, #54061	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Hold	78.80	04/13/2020 22:27:00	E-mail	None Planned	Independent Research	Research Analyst	85.000000
Etalon Group, U/R, #54005	Maria Kolbina	Etalon Group	Equity	US29760G1031, ETLN LI	U/R	1.25	04/08/2020 18:11:00	E-mail	None Planned	Independent Research	Research Analyst
Obuv Rossii, U/R, #53809	Maria Kolbina	Obuv Rossii	Equity	RU000A0JXKG3, OBUV RX	U/R	30.65	03/30/2020 22:58:00	E-mail	None Planned	Independent Research	Research Analyst
Acron, Hold, #53719	Elena Sakhnova	Acron	Equity	RU0009028674, AKRN RX	Hold	5,984	03/30/2020 12:04:00	E-mail	None Planned	Independent Research	Research Analyst	6400.000000
Globaltrans, Hold, #53752	Elena Sakhnova	Globaltrans	Equity	US37949E2046, GLTR LI	Hold	5.40	03/27/2020 22:29:00	E-mail	None Planned	Independent Research	Research Analyst	4.500000
DP Eurasia, U/R, #53776	Maria Kolbina	DP Eurasia	Equity	NL0012328801, DPEU LN	U/R	32.25	03/27/2020 20:49:00	E-mail	None Planned	Independent Research	Research Analyst
Aeroflot, Buy, #53451	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Buy	70.60	03/27/2020 12:20:00	E-mail	None Planned	Independent Research	Research Analyst	100.000000
Dogus Otomotiv, Buy, #53715	Vladimir Bespalov	Dogus Otomotiv	Equity	TREDOTO00013, DOAS TI	Buy	6.17	03/26/2020 20:52:00	E-mail	None Planned	Independent Research	Research Analyst	11.000000
Ford Otosan, Buy, #53638	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Buy	45.84	03/24/2020 14:34:00	E-mail	None Planned	Independent Research	Research Analyst	70.000000
X5 Retail Group, U/R, #53503	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	U/R	24.42	03/16/2020 13:21:00	E-mail	None Planned	Independent Research	Research Analyst
EPAM, Hold, #53478	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Hold	163.4	03/13/2020 14:51:00	E-mail	None Planned	Independent Research	Research Analyst	190.000000
TGK1, Buy, #53477	Vladimir Sklyar	TGK1	Equity	RU000A0JNUD0, TGKA RX	Buy	0.011	03/13/2020 12:16:00	E-mail	None Planned	Independent Research	Research Analyst	0.017000
Halyk Bank, Buy, #53474	Mikhail Shlemov	Halyk Bank	Equity	US46627J3023, HSBK LI	Buy	11.00	03/12/2020 22:33:00	E-mail	None Planned	Independent Research	Research Analyst	20.000000
Transneft, pref. - Long Trade Ideas Portfolio Inclusion	Ilya Piterskiy	Transneft	Equity	RU0009091573	Include to Long Trade Ideas portfolio	137,700	03/12/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	N/A	90 calendar days
Gazprom, ord. - Long Trade Ideas Portfolio Inclusion	Ilya Piterskiy	Gazprom	Equity	RU0007661625	Include to Long Trade Ideas portfolio	2.35	03/12/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	N/A	90 calendar days
TCS Group, ord. Most Liked Stocks Portfolio Inclusion	Ilya Piterskiy	TCS Group	Equity	US87238U2033	Include to Most Liked portfolio	15.60	03/12/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		Unlimited
Transneft, pref. Most Liked Stocks Portfolio Inclusion	Ilya Piterskiy	Transneft	Equity	RU0009091573	Include to Most Liked portfolio	137,700	03/12/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		Unlimited
Gazprom, ord. Most Liked Stocks Portfolio Inclusion	Ilya Piterskiy	Gazprom	Equity	RU0007661625	Include to Most Liked portfolio	2.35	03/12/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		Unlimited
OGK2, Buy, #53293	Vladimir Sklyar	OGK2	Equity	RU000A0JNG55, OGKB RX	Buy	0.60	03/11/2020 22:00:00	E-mail	None Planned	Independent Research	Research Analyst	0.820000
FSK, Buy, #53442	Vladimir Sklyar	FSK	Equity	RU000A0JPNN9, FEES RX	Buy	0.17	03/11/2020 15:15:00	E-mail	None Planned	Independent Research	Research Analyst	0.220000
Unipro, Hold, #53317	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	Hold	2.91	03/11/2020 11:57:00	E-mail	None Planned	Independent Research	Research Analyst	3.000000
CCC, Buy, #53388	Maria Kolbina	CCC	Equity	PLCCC0000016, CCC PW	Buy	74.40	03/06/2020 22:26:00	E-mail	None Planned	Independent Research	Research Analyst	115.000000
Mosenergo, Hold, #53267	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Hold	2.27	03/06/2020 19:36:00	E-mail	None Planned	Independent Research	Research Analyst	2.400000
FSK, Hold, #53331	Vladimir Sklyar	FSK	Equity	RU000A0JPNN9, FEES RX	Hold	0.21	03/06/2020 15:11:00	E-mail	None Planned	Independent Research	Research Analyst	0.220000
CD PROJEKT S.A., Buy, #50749	Anna Kazaryan	CD PROJEKT S.A.	Equity	PLOPTTC00011, CDR PW	Buy	284.4	03/05/2020 13:25:00	E-mail	None Planned	Independent Research	Research Analyst	385.000000
Rusagro, Buy, #53298	Nikolay Kovalev	Rusagro	Equity	US7496552057, AGRO LI	Buy	9.10	03/04/2020 13:09:00	E-mail	None Planned	Independent Research	Research Analyst	12.000000
El Sewedy Electric, Buy, #53061	Vladimir Sklyar	El Sewedy Electric	Equity	EGS3G0Z1C014, SWDY EC	Buy	8.74	03/03/2020 11:16:00	E-mail	None Planned	Independent Research	Research Analyst	15.000000
EVRAZ plc, Buy, #53194	Dmitry Glushakov	EVRAZ plc	Equity	GB00B71N6K86, EVR LN	Buy	376.6	02/27/2020 21:49:00	E-mail	None Planned	Independent Research	Research Analyst	460.000000
EPAM, Sell, #53068	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Sell	238.1	02/21/2020 20:37:00	E-mail	None Planned	Independent Research	Research Analyst	190.000000
Enel Russia, Buy, #53037	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Buy	1.02	02/20/2020 13:19:00	E-mail	None Planned	Independent Research	Research Analyst	1.200000
MOL, Hold, #53036	Dmitry Loukashov	MOL	Equity	HU0000153937, MOL HB	Hold	2,640	02/19/2020 20:39:00	E-mail	None Planned	Independent Research	Research Analyst	2900.000000
Ford Otosan, Hold, #52937	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Hold	76.05	02/14/2020 11:48:00	E-mail	None Planned	Independent Research	Research Analyst	80.000000
Tupras, Hold, #52913	Ekaterina Rodina	Tupras	Equity	TRATUPRS91E8, TUPRS TI	Hold	115.0	02/13/2020 13:39:00	E-mail	None Planned	Independent Research	Research Analyst	132.000000
NLMK, ord. - Short Trade Ideas Portfolio Inclusion	Ilya Piterskiy	NLMK	Equity	RU0009046452	Include to Short Trade Ideas portfolio	143.8	02/05/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	N/A	90 calendar days
X5 Retail, GDR - Short Trade Ideas Portfolio Inclusion	Ilya Piterskiy	X5 Retail Group	Equity	US98387E2054	Include to Short Trade Ideas portfolio	37.20	02/05/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	N/A	90 calendar days
MMK, ord. - Long Trade Ideas Portfolio Inclusion	Ilya Piterskiy	MMK	Equity	RU0009084396	Include to Long Trade Ideas portfolio	45.31	02/05/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	N/A	90 calendar days
MTS, ADR - Long Trade Ideas Portfolio Inclusion	Ilya Piterskiy	MTS	Equity	US6074091090	Include to Long Trade Ideas portfolio	10.49	02/05/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	N/A	90 calendar days
Mail.ru, GDR - Long Trade Ideas Portfolio Inclusion	Ilya Piterskiy	Mail.ru Group	Equity	US5603172082	Include to Long Trade Ideas portfolio	24.00	02/05/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	N/A	90 calendar days
Gazprom Neft, ord. - Long Trade Ideas Portfolio Inclusion	Ilya Piterskiy	Gazprom Neft	Equity	RU0009062467	Include to Long Trade Ideas portfolio	7.19	02/05/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	N/A	90 calendar days
NorNickel, ord. - Long Trade Ideas Portfolio Inclusion	Ilya Piterskiy	Norilsk Nickel	Equity	RU0007288411	Include to Long Trade Ideas portfolio	20,880	02/05/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	N/A	90 calendar days
Tofas, Buy, #52759	Vladimir Bespalov	Tofas	Equity	TRATOASO91H3, TOASO TI	Buy	26.84	02/06/2020 19:10:00	E-mail	None Planned	Independent Research	Research Analyst	40.000000
MMK, ord. Most Liked Stocks Portfolio Inclusion	Ilya Piterskiy	MMK	Equity	RU0009084396	Include to Most Liked portfolio	46.06	02/05/2020 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		Unlimited
Detsky Mir, Hold, #52536	Maria Kolbina	Detsky Mir	Equity	RU000A0JSQ90, DSKY RX	Hold	117.3	01/24/2020 18:15:00	E-mail	None Planned	Independent Research	Research Analyst	125.000000
Alrosa, Hold, #52490	Dmitry Glushakov	Alrosa	Equity	RU0007252813, ALRS RX	Hold	90.87	01/23/2020 15:12:00	E-mail	None Planned	Independent Research	Research Analyst	90.000000
KAZ Minerals, Hold, #52497	Dmitry Glushakov	KAZ Minerals	Equity	GB00B0HZPV38, KAZ LN	Hold	516.6	01/23/2020 12:05:00	E-mail	None Planned	Independent Research	Research Analyst	520.000000
Globaltrans, Sell, #52467	Elena Sakhnova	Globaltrans	Equity	US37949E2046, GLTR LI	Sell	9.53	01/23/2020 11:51:00	E-mail	None Planned	Independent Research	Research Analyst	7.000000
Aeroflot, Buy, #52465	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Buy	113.9	01/22/2020 18:21:00	E-mail	None Planned	Independent Research	Research Analyst	150.000000
X5 Retail Group, Hold, #52359	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Hold	34.90	01/15/2020 22:11:00	E-mail	None Planned	Independent Research	Research Analyst	36.000000
Anadolu Efes, Buy, #52305	Nikolay Kovalev	Anadolu Efes	Equity	TRAAEFES91A9, AEFES TI	Buy	23.62	01/13/2020 18:05:00	E-mail	None Planned	Independent Research	Research Analyst	30.000000
CCC, Hold, #52255	Maria Kolbina	CCC	Equity	PLCCC0000016, CCC PW	Hold	111.4	01/09/2020 18:22:00	E-mail	None Planned	Independent Research	Research Analyst	115.000000
Alrosa, Buy, #51633	Dmitry Glushakov	Alrosa	Equity	RU0007252813, ALRS RX	Buy	76.00	12/09/2019 11:44:00	E-mail	None Planned	Independent Research	Research Analyst	90.000000
Bank St Petersburg, Buy, #51704	Mikhail Shlemov	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Buy	50.84	11/28/2019 11:40:00	E-mail	None Planned	Independent Research	Research Analyst	86.000000
Rusagro, Hold, #51367	Nikolay Kovalev	Rusagro	Equity	US7496552057, AGRO LI	Hold	11.00	11/14/2019 18:29:00	E-mail	None Planned	Independent Research	Research Analyst	12.000000
Eurocash, Hold, #51416	Maria Kolbina	Eurocash	Equity	PLEURCH00011, EUR PW	Hold	23.44	11/13/2019 21:39:00	E-mail	None Planned	Independent Research	Research Analyst	24.000000
El Sewedy Electric, Buy, #51144	Vladimir Sklyar	El Sewedy Electric	Equity	EGS3G0Z1C014, SWDY EC	Buy	12.79	11/13/2019 19:47:00	E-mail	None Planned	Independent Research	Research Analyst	17.000000
Unipro, Hold, #51107	Vladimir Sklyar	Unipro	Equity	RU000A0JNGA5, UPRO RX	Hold	2.68	11/12/2019 20:57:00	E-mail	None Planned	Independent Research	Research Analyst	2.850000
Ford Otosan, Hold, #51340	Vladimir Bespalov	Ford Otosan	Equity	TRAOTOSN91H6, FROTO TI	Hold	67.60	11/11/2019 14:17:00	E-mail	None Planned	Independent Research	Research Analyst	70.000000
Tupras, Buy, #51311	Ekaterina Rodina	Tupras	Equity	TRATUPRS91E8, TUPRS TI	Buy	129.4	11/08/2019 11:44:00	E-mail	None Planned	Independent Research	Research Analyst	159.000000
Komercni Banka, Hold, #51274	Mikhail Shlemov	Komercni Banka	Equity	CZ0008019106, KOMB CK	Hold	791.0	11/07/2019 13:17:00	E-mail	None Planned	Independent Research	Research Analyst	870.000000
DP Eurasia, Hold, #51142	Maria Kolbina	DP Eurasia	Equity	NL0012328801, DPEU LN	Hold	70.00	10/31/2019 16:55:00	E-mail	None Planned	Independent Research	Research Analyst	80.000000
Alior Bank, Buy, #51043	Mikhail Shlemov	Alior Bank	Equity	PLALIOR00045, ALR PW	Buy	30.84	10/28/2019 13:06:00	E-mail	None Planned	Independent Research	Research Analyst	42.000000
Enel Russia, Buy, #50864	Vladimir Sklyar	Enel Russia	Equity	RU000A0F5UN3, ENRU RX	Buy	0.89	10/24/2019 12:25:00	E-mail	None Planned	Independent Research	Research Analyst	1.250000
NLMK, GDR Least Liked Stocks Inclusion	Ilya Piterskiy	NLMK	Equity	US67011E2046	Include to Least Liked portfolio	20.14	10/18/2019 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		Unlimited
X5	Tomas Gatek	X5	Equity	US98387E2054	Buy	31.7	10/16/2019 11:14:08	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	35	n/a	n/a
MTS, ADR Most Liked Stocks Inclusion	Ilya Piterskiy	MTS	Equity	US6074091090	Include to Most Liked portfolio	8.37	10/15/2019 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		Unlimited
Aeroflot, ord. Most Liked Stocks Inclusion	Ilya Piterskiy	Aeroflot	Equity	RU0009062285	Include to Most Liked portfolio	102.8	10/15/2019 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		Unlimited
Qiwi US	Tomas Gatek	Qiwi	Equity	US74735M1080	Buy	19.5	10/15/2019 18:23:03	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	22.0	n/a	n/a
X5 Retail Group, Hold, #50768	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Hold	32.06	10/11/2019 18:27:00	E-mail	None Planned	Independent Research	Research Analyst	35.000000
Eregli	Tomas Gatek	EREGL LI	Equity	TRAEREGL91G3	Buy	7.02	09/17/2019 11:38:28	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	8.0	n/a	n/a
Norilsk Nickel	Tomas Gatek	MNOD LI	Equity	US55315J1025	Buy	25.04	09/18/2019 11:36:41	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	28	n/a	n/a
Dino Polska	Tomas Gatek	DNP PW	Equity	PLDINPL00011	Buy	156	09/18/2019 11:34:58	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	170	n/a	n/a
Garanti	Tomas Gatek	Garanti	Equity	TRAGARAN91N1	Buy	9.47	09/18/2019 11:29:34	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	10.5	n/a	n/a
Buy HSBK	Tomas Gatek	Halyk Bank	Equity	KZ000A0LE0S4	Buy	12	09/27/2019 14:06:00	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	14	n/a	n/a
Anadolu Efes, Buy, #50747	Nikolay Kovalev	Anadolu Efes	Equity	TRAAEFES91A9, AEFES TI	Buy	20.08	10/10/2019 17:03:00	E-mail	None Planned	Independent Research	Research Analyst	27.000000
MD Medical Group, Buy, #50740	Maria Kolbina	MD Medical Group	Equity	US55279C2008, MDMG LI	Buy	4.64	10/09/2019 22:13:00	E-mail	None Planned	Independent Research	Research Analyst	7.000000
Sollers, Buy, #50572	Vladimir Bespalov	Sollers	Equity	RU0006914488, SVAV RX	Buy	295.5	10/02/2019 17:29:00	E-mail	None Planned	Independent Research	Research Analyst	450.000000
Qiwi, Buy, #50185	Vladimir Bespalov	Qiwi	Equity	US74735M1080, QIWI US	Buy	22.33	09/19/2019 21:35:00	E-mail	None Planned	Independent Research	Research Analyst	34.000000
Georgia Healthcare Group, Buy, #50371	Maria Kolbina	Georgia Healthcare Group	Equity	GB00BYSS4K11, GHG LN	Buy	201.5	09/18/2019 12:12:00	E-mail	None Planned	Independent Research	Research Analyst	260.000000
X5 Retail Group, Hold, #50352	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Hold	36.16	09/18/2019 12:03:00	E-mail	None Planned	Independent Research	Research Analyst	38.000000
ERDEMIR, Buy, #37264	Dmitry Glushakov	ERDEMIR	Equity	TRAEREGL91G3, EREGL TI	Buy	7.06	09/17/2019 12:43:00	E-mail	None Planned	Independent Research	Research Analyst	10.000000
Highland Gold, Sell, #50109	Dmitry Glushakov	Highland Gold	Equity	GB0032360173, HGM LN	Sell	232.6	09/04/2019 10:52:00	E-mail	None Planned	Independent Research	Research Analyst	200.000000
El Sewedy Electric, Buy, #49397	Vladimir Sklyar	El Sewedy Electric	Equity	EGS3G0Z1C014, SWDY EC	Buy	13.52	08/28/2019 21:32:00	E-mail	None Planned	Independent Research	Research Analyst	16.000000
Eurocash, Hold, #50018	Maria Kolbina	Eurocash	Equity	PLEURCH00011, EUR PW	Hold	18.14	08/28/2019 20:45:00	E-mail	None Planned	Independent Research	Research Analyst	20.000000
Polymetal International, Hold, #49988	Dmitry Glushakov	Polymetal International	Equity	JE00B6T5S470, POLY LN	Hold	1,116	08/28/2019 12:32:00	E-mail	None Planned	Independent Research	Research Analyst	1080.000000
Surgutneftegas, pref. Most Liked Stocks Inclusion	Ilya Piterskiy	Surgutneftegas	Equity	RU0009029524	Include to Most Liked portfolio	0.48	08/23/2019 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		Unlimited
Acron, Buy, #49913	Elena Sakhnova	Acron	Equity	RU0009028674, AKRN RX	Buy	4,682	08/23/2019 23:13:00	E-mail	None Planned	Independent Research	Research Analyst	5600.000000
Turkish Airlines, Hold, #48949	Elena Sakhnova	Turkish Airlines	Equity	TRATHYAO91M5, THYAO TI	Hold	11.25	08/21/2019 21:03:00	E-mail	None Planned	Independent Research	Research Analyst	13.000000
TCS Group, Hold, #49851	Mikhail Shlemov	TCS Group	Equity	US87238U2033, TCS LI	Hold	19.00	08/21/2019 12:01:00	E-mail	None Planned	Independent Research	Research Analyst	22.000000
Dino Polska SA, Hold, #49850	Maria Kolbina	Dino Polska SA	Equity	PLDINPL00011, DNP PW	Hold	134.6	08/20/2019 22:09:00	E-mail	None Planned	Independent Research	Research Analyst	150.000000
KAZ Minerals, Buy, #49728	Dmitry Glushakov	KAZ Minerals	Equity	GB00B0HZPV38, KAZ LN	Buy	419.1	08/16/2019 11:57:00	E-mail	None Planned	Independent Research	Research Analyst	520.000000
InterRAO, Buy, #49191	Vladimir Sklyar	InterRAO	Equity	RU000A0JPNM1, IRAO RX	Buy	4.26	08/15/2019 12:31:00	E-mail	None Planned	Independent Research	Research Analyst	9.800000
Anadolu Efes, Hold, #49693	Nikolay Kovalev	Anadolu Efes	Equity	TRAAEFES91A9, AEFES TI	Hold	24.08	08/14/2019 12:09:00	E-mail	None Planned	Independent Research	Research Analyst	27.000000
Medlife, Hold, #49683	Maria Kolbina	Medlife	Equity	ROMEDLACNOR6, M RO	Hold	32.00	08/13/2019 16:54:00	E-mail	None Planned	Independent Research	Research Analyst	36.000000
EPAM, Sell, #49627	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Sell	190.0	08/09/2019 21:47:00	E-mail	None Planned	Independent Research	Research Analyst	165.000000
EVRAZ plc, Hold, #49616	Dmitry Glushakov	EVRAZ plc	Equity	GB00B71N6K86, EVR LN	Hold	600.0	08/09/2019 10:37:00	E-mail	None Planned	Independent Research	Research Analyst	630.000000
VEON, ADS Least Liked Stocks Inclusion	Ilya Piterskiy	VEON	Equity	US91822M1062	Include to Least Liked portfolio	2.84	06/28/2019 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		Unlimited
X5 Retail, GDR Most Liked Stocks Inclusion	Ilya Piterskiy	X5 Retail Group	Equity	US98387E2054	Include to Most Liked portfolio	34.00	08/02/2019 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		Unlimited
X5 Retail Group, Buy, #49445	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Buy	33.02	07/31/2019 22:52:00	E-mail	None Planned	Independent Research	Research Analyst	38.000000
Yandex, Buy, #49364	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Buy	38.41	07/26/2019 22:34:00	E-mail	None Planned	Independent Research	Research Analyst	50.000000
KAZ Minerals, Hold, #49297	Dmitry Glushakov	KAZ Minerals	Equity	GB00B0HZPV38, KAZ LN	Hold	577.8	07/25/2019 20:04:00	E-mail	None Planned	Independent Research	Research Analyst	580.000000	N/A	12M
Polymetal International, Hold, #49282	Dmitry Glushakov	Polymetal International	Equity	JE00B6T5S470, POLY LN	Hold	992.0	07/24/2019 18:30:00	E-mail	None Planned	Independent Research	Research Analyst	960.000000
Nostrum Oil&Gas, Hold, #48968	Alexander Donskoy	Nostrum Oil&Gas	Equity	GB00BGP6Q951, NOG LN	Hold	45.00	07/05/2019 22:30:00	E-mail	None Planned	Independent Research	Research Analyst	50.000000
MOL, Hold, #47233	Dmitry Loukashov	MOL	Equity	HU0000153937, MOL HB	Hold	3,150	06/21/2019 18:15:00	E-mail	None Planned	Independent Research	Research Analyst	3500.000000
Petkim Petrokimya Holding, Buy, #47234	Dmitry Loukashov	Petkim Petrokimya Holding	Equity	TRAPETKM91E0, PETKM TI	Buy	3.94	06/21/2019 17:57:00	E-mail	None Planned	Independent Research	Research Analyst	5.600000
Alrosa, Buy, #48643	Dmitry Glushakov	Alrosa	Equity	RU0007252813, ALRS RX	Buy	85.10	06/17/2019 18:45:00	E-mail	None Planned	Independent Research	Research Analyst	110.000000
Petropavlovsk, Buy, #45771	Dmitry Glushakov	Petropavlovsk	Equity	GB0031544546, POG LN	Buy	8.50	06/17/2019 12:48:00	E-mail	None Planned	Independent Research	Research Analyst	14.000000
Yandex, Buy, #48448	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Buy	37.77	06/11/2019 21:52:00	E-mail	None Planned	Independent Research	Research Analyst	46.000000
TCS Group, U/R, #48443	Mikhail Shlemov	TCS Group	Equity	US87238U2033, TCS LI	U/R	18.88	06/04/2019 17:58:00	E-mail	None Planned	Independent Research	Research Analyst
Lukoil, ord. Most Liked Stocks Inclusion	Ilya Piterskiy	Lukoil	Equity	RU0009024277	Include to Most Liked portfolio	80.30	05/31/2019 15:00:00	E-mail	None Planned	Independent Research	Strategist	N/A		Unlimited
Nostrum Oil&Gas, Buy, #48194	Alexander Donskoy	Nostrum Oil&Gas	Equity	GB00BGP6Q951, NOG LN	Buy	76.20	05/22/2019 20:30:00	E-mail	None Planned	Independent Research	Research Analyst	110.000000
Halyk Bank, Buy, #48147	Mikhail Shlemov	Halyk Bank	Equity	US46627J3023, HSBK LI	Buy	10.95	05/20/2019 22:15:00	E-mail	None Planned	Independent Research	Research Analyst	23.000000
Alrosa, Buy, #48112	Dmitry Glushakov	Alrosa	Equity	RU0007252813, ALRS RX	Buy	92.47	05/17/2019 22:18:00	E-mail	None Planned	Independent Research	Research Analyst	120.000000
Georgia Healthcare Group, Hold, #48053	Maria Kolbina	Georgia Healthcare Group	Equity	GB00BYSS4K11, GHG LN	Hold	230.0	05/15/2019 22:13:00	E-mail	None Planned	Independent Research	Research Analyst	260.000000
Globaltrans, Hold, #47860	Elena Sakhnova	Globaltrans	Equity	US37949E2046, GLTR LI	Hold	9.28	05/13/2019 20:59:00	E-mail	None Planned	Independent Research	Research Analyst	9.000000
TCS Group, Buy, #46948	Mikhail Shlemov	TCS Group	Equity	US87238U2033, TCS LI	Buy	19.88	05/06/2019 22:00:00	E-mail	None Planned	Independent Research	Research Analyst	25.000000
Highland Gold, Sell, #47443	Dmitry Glushakov	Highland Gold	Equity	GB0032360173, HGM LN	Sell	186.6	04/15/2019 12:28:00	E-mail	None Planned	Independent Research	Research Analyst	150.000000
Sollers, Hold, #47232	Vladimir Bespalov	Sollers	Equity	RU0006914488, SVAV RX	Hold	360.5	04/03/2019 19:33:00	E-mail	None Planned	Independent Research	Research Analyst	400.000000
Lenta, U/R, #47236	Maria Kolbina	Lenta	Equity	US52634T2006, LNTA LI	U/R	3.38	04/02/2019 20:54:00	E-mail	None Planned	Independent Research	Research Analyst
Evraz Least Liked Stocks Inclusion	Ilya Piterskiy, Nikolay Mikheev, Duc Nguyen	Evraz	Equity	GB00B71N6K86	Include into the Least Liked Portfolio	4.35	03/30/2018 02:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	RTS Index	Unlimited
Novatek Least Liked Portfolio Inclusion	Ilya Piterskiy, Nikolay Mikheev, Duc Nguyen	Novatek	Equity	US6698881090	Include into the Least Liked Portfolio	26.36	03/15/2017 03:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	RTS Index	Unlimited
Severstal Most Liked Stocks Portfolio inclusion	Ilya Piterskiy, Nikolay Mikheev, Duc Nguyen	Severtal	Equity	RU0009046510	Include into the Most Liked Portfolio	1026	02/08/2019 03:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	RTS Index	Unlimited
X5 Retail Group Most Liked Portfolio inclusion	Ilya Piterskiy, Nikolay Mikheev, Duc Nguyen	X5 Retail Group	Equity	US98387E2054	Include into the Most Liked Portfolio	26.36	02/01/2019 03:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	RTS Index	Unlimited
Mail.ru Group Most Liked Portfolio inclusion	Ilya Piterskiy, Nikolay Mikheev, Duc Nguyen	Mail.ru Group	Equity	US5603172082	Include into the Most Liked Portfolio	24.68	02/01/2019 03:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	RTS Index	Unlimited
Gazprom Neft Most Liked Stocks Portfolio inclusion	Ilya Piterskiy, Nikolay Mikheev, Duc Nguyen	Gazprom Neft	Equity	RU0009062467	Include into the Most Liked Portfolio	5.7	10/12/2018 02:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	RTS Index	Unlimited
Norilsk Nickel Most Liked Stocks Portfolio inclusion	Alexey Zabotkin, Ilya Piterskiy, Nikolay Mikheev	Norilsk Nickel	Equity	RU0007288411	Include into the Most Liked Portfolio	11224	06/22/2018 02:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	RTS Index	Unlimited
Inter RAO Most Liked Portfolio inclusion	Alexey Zabotkin, Ilya Piterskiy, Nikolay Mikheev	Inter RAO	Equity	RU000A0JPNM1	Include into the Most Liked Portfolio	3.77	03/23/2018 03:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	RTS Index	Unlimited
Sberbank Most Liked Portfolio inclusion	Alexey Zabotkin, Ilya Piterskiy, Anastasia Markina, Mikhail Rasstrigin	Sberbank	Equity	RU0009029540	Include into the Most Liked Portfolio	157	03/15/2017 03:00:00	E-mail	None Planned	Independent Research	Strategist	N/A	RTS Index	Unlimited
Nostrum Oil&Gas, Hold, #47096	Alexander Donskoy	Nostrum Oil&Gas	Equity	GB00BGP6Q951, NOG LN	Hold	96.50	03/27/2019 12:06:00	E-mail	None Planned	Independent Research	Research Analyst	110.000000
Georgia Healthcare Group, Buy, #47090	Maria Kolbina	Georgia Healthcare Group	Equity	GB00BYSS4K11, GHG LN	Buy	196.3	03/26/2019 17:45:00	E-mail	None Planned	Independent Research	Research Analyst	260.000000
X5 Retail Group, Buy, #46999	Maria Kolbina	X5 Retail Group	Equity	US98387E2054, FIVE LI	Buy	24.58	03/20/2019 19:30:00	E-mail	None Planned	Independent Research	Research Analyst	34.000000
Halyk Bank, Buy, #46945	Mikhail Shlemov	Halyk Bank	Equity	US46627J3023, HSBK LI	Buy	12.10	03/20/2019 11:48:00	E-mail	None Planned	Independent Research	Research Analyst	22.000000
Moscow Exchange, Buy, #46763	Mikhail Shlemov	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Buy	92.38	03/07/2019 12:59:00	E-mail	None Planned	Independent Research	Research Analyst	120.000000
Steppe Cement, Buy, #46752	Vladimir Bespalov	Steppe Cement	Equity	MYA004433001, STCM LN	Buy	33.00	03/06/2019 21:18:00	E-mail	None Planned	Independent Research	Research Analyst	40.000000
Moscow Exchange, Buy, #46697	Mikhail Shlemov	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Buy	91.57	03/04/2019 18:49:00	E-mail	None Planned	Independent Research	Research Analyst	116.000000
Anadolu Efes, Buy, #46670	Nikolay Kovalev	Anadolu Efes	Equity	TRAAEFES91A9, AEFES TI	Buy	20.06	03/01/2019 22:04:00	E-mail	None Planned	Independent Research	Research Analyst	25.000000
Etalon Group, U/R, #46401	Maria Kolbina	Etalon Group	Equity	US29760G1031, ETLN LI	U/R	1.98	02/19/2019 18:56:00	E-mail	None Planned	Independent Research	Research Analyst
Turkiye Halk Bankasi AS, Hold, #45753	Akin Tuzun	Turkiye Halk Bankasi AS	Equity	TRETHAL00019, HALKB TI	Hold	7.21	02/19/2019 16:11:00	E-mail	None Planned	Independent Research	Research Analyst	8.00
Turkiye Is Bankasi, Hold, #45753	Akin Tuzun	Turkiye Is Bankasi	Equity	TRAISCTR91N2, ISCTR TI	Hold	5.79	02/19/2019 16:11:00	E-mail	None Planned	Independent Research	Research Analyst	6.30
Turkiye Garanti Bankasi, Hold, #45753	Akin Tuzun	Turkiye Garanti Bankasi	Equity	TRAGARAN91N1, GARAN TI	Hold	8.87	02/19/2019 16:11:00	E-mail	None Planned	Independent Research	Research Analyst	9.20
Akbank, Hold, #45753	Akin Tuzun	Akbank	Equity	TRAAKBNK91N6, AKBNK TI	Hold	6.72	02/19/2019 16:11:00	E-mail	None Planned	Independent Research	Research Analyst	7.00
EPAM, Sell, #46335	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Sell	154.1	02/15/2019 15:42:00	E-mail	None Planned	Independent Research	Research Analyst	145.0
Anadolu Efes, Hold, #46267	Nikolay Kovalev	Anadolu Efes	Equity	TRAAEFES91A9, AEFES TI	Hold	22.20	02/12/2019 12:00:00	E-mail	None Planned	Independent Research	Research Analyst	25.00
Eurocash, Sell, #46147	Maria Kolbina	Eurocash	Equity	PLEURCH00011, EUR PW	Sell	19.49	02/06/2019 19:13:00	E-mail	None Planned	Independent Research	Research Analyst	15.00		N/A
Mail.ru Group, Buy, #45856	Vladimir Bespalov	Mail.ru Group	Equity	US5603172082, MAIL LI	Buy	23.44	01/30/2019 21:18:00	E-mail	None Planned	Independent Research	Research Analyst	32.00		N/A
Polymetal International, Hold, #45995	Dmitry Glushakov	Polymetal International	Equity	JE00B6T5S470, POLY LN	Hold	840.0	01/29/2019 12:01:00	E-mail	None Planned	Independent Research	Research Analyst	960.0		N/A
PKN SHORT	Tomas Gatek	PKN	Equity	PLPKN0000018	Sell	29.22	01/10/2019 18:43:13	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	25		N/A
Alrosa buy	Tomas Gatek	ALRS RX	Equity	RU0007252813	Buy	98.65	01/08/2019 13:59:57	E-mail	Daily	Short-term Sales & Trading Idea	Equity Sales	110		N/A
SGL SJ BUY	Tomas Gatek	SGL	Equity	ZAE000173951	Buy	0.75	01/10/2019 13:58:41	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	1.0		N/A
Evraz SELL	Tomas Gatek	Evraz	Equity	GB00B71N6K86	Buy	4.75	01/08/2019 13:57:21	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	4.5		N/A
NLMK sell	Tomas Gatek	NLMK	Equity	US67011E2046	Sell	22.3	01/08/2019 13:55:46	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	20		N/A
Severstal BUY	Tomas Gatek	Severstal	Equity	US8181503025	Buy	14.4	01/09/2019 17:41:15	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	16		N/A
Sberbank BUY	Tomas Gatek	Sberbank	Equity	US80585Y3080	Buy	11.6	01/09/2019 17:39:38	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	12.5		N/A
Garanti Buy	Tomas Gatek	Garanti	Equity	TRAGARAN91N1	Buy	1.44	01/09/2019 17:34:34	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	1.7		N/A
ALRSRU 20, hold	Stanislav Bozhenko, Igor Rapokhin	Alrosa	Bond	XS0555493203	Hold	105.73	12/20/2018 14:40:00	E-mail	None Planned	Independent Research	Fixed Income Analyst	NA		N/A
VIP 21 3.95, hold	Stanislav Bozhenko, Igor Rapokhin	VEON	Bond	XS1625994022	Hold	97.3	12/20/2018 14:40:00	E-mail	None Planned	Independent Research	Fixed Income Analyst	NA		N/A
ALRSRU 20, sell	Stanislav Bozhenko, Igor Rapokhin	Alrosa	Bond	XS0555493203	Sell	106.35	11/12/2018 14:40:00	E-mail	None Planned	Independent Research	Fixed income analyst	NA		N/A
VIP 21 3.95, buy	Stanislav Bozhenko, Igor Rapokhin	VEON	Bond	XS1625994022	Buy	96.74	11/12/2018 14:40:00	E-mail	None Planned	Independent Research	Fixed income analyst	NA		N/A
Gazprom Neft, Sell, #45695	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Sell	5.20	12/21/2018 13:32:00	E-mail	None Planned	Independent Research	Research Analyst	4.70		N/A
Surgutneftegas, Sell, #45695	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Sell	0.41	12/21/2018 13:32:00	E-mail	None Planned	Independent Research	Research Analyst	0.36		N/A
LUKOIL 23, hold	Maxim Korovin	Lukoil	Bond	XS0919504562	Hold	98.5	12/14/2018 10:38:54	E-mail	None Planned	Independent Research	Strategist	98.5		N/A
GRAIL 22, buy	Stanislav Bozhenko	Georgian Railways	Bond	XS0800346362	Buy	104	12/13/2018 14:21:53	E-mail	None Planned	Independent Research	Credit Analyst	105		N/A
LUKOIL 23, buy	Stanislav Bozhenko	Lukoil	Bond	XS0919504562	Buy	97.3	12/04/2018 14:35:11	E-mail	None Planned	Independent Research	Credit Analyst	98.5		N/A
ALFARU Perp with call in 2022 buy	Maxim Korovin	Alfa Bank	Bond	XS1513741311	Buy	93.2	08/29/2018 13:30:00	E-mail	None Planned	Independent Research	Strategist	100		N/A
KZOKZ 22 fair	Maxim Korovin	KMG	Bond	XS1595713279	Fair	N/A	11/28/2018 14:32:00	E-mail	None Planned	Independent Research	Strategist	N/A		N/A
GAZPRU 22 fair	Maxim Korovin	Gazprom	Bond	XS0805570354	Fair	N/A	11/28/2018 14:32:00	E-mail	None Planned	Independent Research	Strategist	N/A		N/A
KZOKZ 22 sell	Maxim Korovin	KMG	Bond	XS1595713279	Overvalued	N/A	09/26/2018 13:29:00	E-mail	None Planned	Independent Research	Strategist	N/A		N/A
GAZPRU 22 buy	Maxim Korovin	Gazprom	Bond	XS0805570354	Undervalued	N/A	09/26/2018 13:29:00	E-mail	None Planned	Independent Research	Strategist	N/A		N/A
Buy SBERRU 24	Tatiana Chernyavskaya,	Sberbank	Bond	XS1032750165	Buy	100	11/09/2018 19:58:00	E-mail	None Planned	Independent Research	Credit analys/Strategist	104		N/A
RV: switch from VIP 23 7.25 to MOBTEL 23	Stanislav Bozhenko	MTS, VEON	Bond	XS0921331509, XS1400710726	Credit Cheap	N/A	11/26/2018 14:35:00	E-mail	None Planned	Independent Research	Credit analyst	N/A		N/A
Gazprom Neft, Hold, #45159	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Hold	5.55	11/13/2018 12:27:00	E-mail	None Planned	Independent Research	Research Analyst	6.1		N/A
Tatneft, Sell, #45159	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Sell	11.97	11/13/2018 12:27:00	E-mail	None Planned	Independent Research	Research Analyst	11		N/A
Lukoil, Hold, #45159	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	74.97	11/13/2018 12:27:00	E-mail	None Planned	Independent Research	Research Analyst	85		N/A
Mosenergo, Sell, #45057	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Sell	1.87	11/13/2018 11:12:00	E-mail	None Planned	Independent Research	Research Analyst	1.55		N/A
OTP Bank, Buy, #45120	Mikhail Shlemov	OTP Bank	Equity	HU0000061726, OTP HB	Buy	11100	11/12/2018 11:58:00	E-mail	None Planned	Independent Research	Research Analyst	13200		N/A
Aeroflot	Tomas Gatek	Aeroflot	Equity	RU0009062285	Buy	94.05	10/29/2018 11:57:30	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	110		N/A
Aeroflot, Buy, #45002	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Buy	97.25	11/06/2018 15:33:00	E-mail	None Planned	Independent Research	Research Analyst	130		N/A
Ferrexpo, Hold, #44961	Dmitry Glushakov	Ferrexpo	Equity	GB00B1XH2C03, FXPO LN	Hold	216.2	10/31/2018 13:57:00	E-mail	None Planned	Independent Research	Research Analyst	220		N/A
Yandex, U/R, #44914	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	U/R	27	10/26/2018 21:37:00	E-mail	None Planned	Independent Research	Research Analyst			N/A
Severstal, Hold, #44660	Dmitry Glushakov	Severstal	Equity	US8181503025, SVST LI	Hold	16.23	10/11/2018 17:07:00	E-mail	None Planned	Independent Research	Research Analyst	17		N/A
O'key, Buy, #44452	Maria Kolbina	O'key	Equity	US6708662019, OKEY LI	Buy	1.53	10/08/2018 21:48:00	E-mail	None Planned	Independent Research	Research Analyst	2.1		N/A
Surgutneftegas, Hold, #44337	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Hold	0.41	10/08/2018 12:40:00	E-mail	None Planned	Independent Research	Research Analyst	0.47		N/A
Gazprom Neft, Buy, #44258	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Buy	5.79	10/08/2018 12:38:00	E-mail	None Planned	Independent Research	Research Analyst	7.5		N/A
HMS, Hold, #44559	Vladimir Bespalov	HMS	Equity	US40425X2099, HMSG LI	Hold	10.3	10/04/2018 14:32:00	E-mail	None Planned	Independent Research	Research Analyst	11		N/A
PIK Group, Hold, #44159	Maria Kolbina	PIK Group	Equity	RU000A0JP7J7, PIKK RX	Hold	360.7	08/30/2018 16:04:00	E-mail	None Planned	Independent Research	Research Analyst	400		N/A
Lenta, Buy, #44138	Maria Kolbina	Lenta	Equity	US52634T2006, LNTA LI	Buy	4.26	08/29/2018 19:57:00	E-mail	None Planned	Independent Research	Research Analyst	6		N/A
FSK, Buy, #43953	Vladimir Sklyar	FSK	Equity	RU000A0JPNN9, FEES RX	Buy	0.16	08/23/2018 21:48:00	E-mail	None Planned	Independent Research	Research Analyst	0.19		N/A
Bank Pekao, Buy, #43824	Mikhail Shlemov	Bank Pekao	Equity	PLPEKAO00016, PEO PW	Buy	110.1	08/08/2018 22:20:00	E-mail	None Planned	Independent Research	Research Analyst	150		N/A
Aeroflot, Hold, #42907	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Hold	116	08/03/2018 11:42:00	E-mail	None Planned	Independent Research	Research Analyst	132		N/A
Turkiye Vakiflar Bankasi Tao, Buy, #43226	Akin Tuzun	Turkiye Vakiflar Bankasi Tao	Equity	TREVKFB00019, VAKBN TI	Buy	3.97	07/25/2018 20:34:00	E-mail	None Planned	Independent Research	Research Analyst	5.3		N/A
Turkiye Halk Bankasi AS, Buy, #43226	Akin Tuzun	Turkiye Halk Bankasi AS	Equity	TRETHAL00019, HALKB TI	Buy	6.35	07/25/2018 20:34:00	E-mail	None Planned	Independent Research	Research Analyst	8.5		N/A
Yapi ve Kredi Bankasi, Buy, #43226	Akin Tuzun	Yapi ve Kredi Bankasi	Equity	TRAYKBNK91N6, YKBNK TI	Buy	2.05	07/25/2018 20:34:00	E-mail	None Planned	Independent Research	Research Analyst	2.7		N/A
Turkiye Is Bankasi, Buy, #43226	Akin Tuzun	Turkiye Is Bankasi	Equity	TRAISCTR91N2, ISCTR TI	Buy	4.78	07/25/2018 20:34:00	E-mail	None Planned	Independent Research	Research Analyst	6.2		N/A
Turkiye Garanti Bankasi, Buy, #43226	Akin Tuzun	Turkiye Garanti Bankasi	Equity	TRAGARAN91N1, GARAN TI	Buy	6.64	07/25/2018 20:34:00	E-mail	None Planned	Independent Research	Research Analyst	9		N/A
Akbank, Buy, #43226	Akin Tuzun	Akbank	Equity	TRAAKBNK91N6, AKBNK TI	Buy	6.53	07/25/2018 20:34:00	E-mail	None Planned	Independent Research	Research Analyst	8.6		N/A
HMS, Buy, #42484	Vladimir Bespalov	HMS	Equity	US40425X2099, HMSG LI	Buy	10	05/11/2018 13:01:00	E-mail	None Planned	Independent Research	Research Analyst	12		N/A
Lenta, Hold, #43570	Maria Kolbina	Lenta	Equity	US52634T2006, LNTA LI	Hold	5.2	07/24/2018 20:02:00	E-mail	None Planned	Independent Research	Research Analyst	6		N/A
ROSNEFT Short	Tomas Gatek	ROSNEF	Equity	US67812M2070	Sell	6.4	07/17/2018 10:01:00	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	6		n/a
RusAgro, Buy, #43074	Nikolay Kovalev	RusAgro	Equity	US7496552057, AGRO LI	Buy	10.84	07/06/2018 20:42:00	E-mail	None Planned	Independent Research	Research Analyst	13.5		N/A
Kernel Holding, Buy, #43074	Nikolay Kovalev	Kernel Holding	Equity	LU0327357389, KER PW	Buy	48.75	07/06/2018 20:42:00	E-mail	None Planned	Independent Research	Research Analyst	70		N/A
Sell Rosseti	Tomas Gatek	Rosseti	Equity	RU000A0JPVJ0	Sell	0.8	06/28/2018 13:22:00	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	0.5		N/A
BUY Inter Rao	Tomas Gatek	Inter Rao	Equity	RU000A0JPNM1	Buy	4.06	06/28/2018 13:22:23	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	5		N/A
FSK, Hold, #42219	Vladimir Sklyar	FSK	Equity	RU000A0JPNN9, FEES RX	Hold	0.18	06/26/2018 17:22:00	E-mail	None Planned	Independent Research	Research Analyst	0.19		N/A
Switch from the Gazprom curve into the Lukoil one. In particular, GAZ21’s spread to LUKOIL20 is at the lowest in 52 weeks, trading below 15bp (it was 35bp a month ago)	Maxim Korovin, Evgeny Dorofeev	LUKOIL	Bond	XS0554659671	Credit Cheap	15	01/10/2018 20:58:00	E-mail	None Planned	Independent Research	Fixed Income Strategy	35		N/A
GAZ21 gives a 20bp pickup in yield vs. NVTKRM21. Target spread - flat.	Maxim Korovin, Evgeny Dorofeev	LUKOIL, GAZPRU	Bond	XS1038646078	Credit Cheap	20	11/01/2017 18:51:00	E-mail	None Planned	Independent Research	Fixed Income Strategy	0		N/A
Bank St Petersburg, Buy, #42724	Mikhail Shlemov	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Buy	51.55	05/31/2018 21:22:00	E-mail	None Planned	Independent Research	Research Analyst	69		N/A
Aeroflot, U/R, #42727	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	U/R	131.6	05/30/2018 12:07:00	E-mail	None Planned	Independent Research	Research Analyst			N/A
MHP, Buy, #42638	Nikolay Kovalev	MHP	Equity	US55302T2042, MHPC LI	Buy	13.7	05/23/2018 11:39:00	E-mail	None Planned	Independent Research	Research Analyst	18
RusAgro, Hold, #42499	Nikolay Kovalev	RusAgro	Equity	US7496552057, AGRO LI	Hold	11.3	05/14/2018 16:47:00	E-mail	None Planned	Independent Research	Research Analyst	12.5
Mosenergo, Hold, #42434	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Hold	2.56	05/08/2018 21:30:00	E-mail	None Planned	Independent Research	Research Analyst	2.5
Turkish Airlines	Tomas Gatek	Turkish airlines	Equity	TRATHYAO91M5	Sell	16.98	05/03/2018 17:00:00	bloomberg	None Planned	Short-term Sales & Trading Idea	Equity Sales	15		3 months
Yapi Kredi Buy	Tomas Gatek	YKBNK	Equity	TRAYKBNK91N6	Buy	4.14	05/03/2018 16:10:00	bloomberg	Daily	Short-term Sales & Trading Idea	Equity Sales	5		3 months
Buy Garanti	Tomas Gatek	Garanti	Equity	TRAGARAN91N1	Buy	9.19	05/03/2018 16:10:00	bloomberg	Daily	Short-term Sales & Trading Idea	Equity Sales	10.5		3 months
Moscow Exchange, Buy, #42301	Mikhail Shlemov	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Buy	116	04/25/2018 11:15:00	E-mail	None Planned	Independent Research	Research Analyst	140
Tupras, Buy, #41999	Ekaterina Rodina	Tupras	Equity	TRATUPRS91E8, TUPRS TI	Buy	111.4	04/11/2018 20:02:00	E-mail	None Planned	Independent Research	Research Analyst	132
Severstal, Buy, #42119	Dmitry Glushakov	Severstal	Equity	US8181503025, SVST LI	Buy	14	04/10/2018 16:43:00	E-mail	None Planned	Independent Research	Research Analyst	16
RusAgro, Buy, #41961	Nikolay Kovalev	RusAgro	Equity	US7496552057, AGRO LI	Buy	10.2	03/28/2018 16:57:00	E-mail	None Planned	Independent Research	Research Analyst	12.5
Acron, Hold, #41967	Elena Sakhnova	Acron	Equity	RU0009028674, AKRN RX	Hold	4235	03/29/2018 20:56:00	E-mail	None Planned	Independent Research	Research Analyst	4400
Tatneft, Hold, #41991	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Hold	10.46	03/30/2018 12:26:00	E-mail	None Planned	Independent Research	Research Analyst	10.4
O'key, Hold, #42044	Maria Kolbina	O'key	Equity	US6708662019, OKEY LI	Hold	2	04/04/2018 13:54:00	E-mail	None Planned	Independent Research	Research Analyst	2.15
Inter RAO, Buy, #41735	Vladimir Sklyar	Inter RAO	Equity	RU000A0JPNM1, IRAO RX	Buy	3.89	04/09/2018 14:19:00	E-mail	None Planned	Independent Research	Research Analyst	7.8
Rushydro, Buy, #41735	Vladimir Sklyar	Rushydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.75	04/09/2018 14:19:00	E-mail	None Planned	Independent Research	Research Analyst	1.08
TGK-1, Hold, #41735	Vladimir Sklyar	TGK-1	Equity	RU000A0JNUD0, TGKA RX	Hold	0.011	04/09/2018 14:19:00	E-mail	None Planned	Independent Research	Research Analyst	0.013
E.On Russia, Buy, #41735	Vladimir Sklyar	E.On Russia	Equity	RU000A0JNGA5, UPRO RX	Buy	2.9	04/09/2018 14:19:00	E-mail	None Planned	Independent Research	Research Analyst	3.46
OGK-2, Buy, #41735	Vladimir Sklyar	OGK-2	Equity	RU000A0JNG55, OGKB RX	Buy	0.46	04/09/2018 14:19:00	E-mail	None Planned	Independent Research	Research Analyst	0.64
Enel Russia (OGK-5), Buy, #41735	Vladimir Sklyar	Enel Russia (OGK-5)	Equity	RU000A0F5UN3, ENRU RX	Buy	1.51	04/09/2018 14:19:00	E-mail	None Planned	Independent Research	Research Analyst	2.1
Mosenergo, Sell, #41735	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Sell	2.89	04/09/2018 14:19:00	E-mail	None Planned	Independent Research	Research Analyst	2.5
Ferrexpo, Hold, #41051	Dmitry Glushakov	Ferrexpo	Equity	GB00B1XH2C03, FXPO LN	Hold	238.3	04/09/2018 14:30:00	E-mail	None Planned	Independent Research	Research Analyst	240
Etalon Group, Buy, #42106	Maria Kolbina	Etalon Group	Equity	US29760G1031, ETLN LI	Buy	3.02	04/09/2018 21:16:00	E-mail	None Planned	Independent Research	Research Analyst	3.5
Nostrum Oil&Gas, Hold, #41951	Alexander Donskoy	Nostrum Oil&Gas	Equity	GB00BGP6Q951, NOG LN	Hold	307	03/28/2018 12:25:00	E-mail	None Planned	Independent Research	Research Analyst	344
Phosagro, Buy, #41902	Elena Sakhnova	Phosagro	Equity	US71922G2093, PHOR LI	Buy	14.29	03/23/2018 18:31:00	E-mail	None Planned	Independent Research	Research Analyst	17
M.Video, U/R, #41898	Maria Kolbina	M.Video	Equity	RU000A0JPGA0, MVID RX	U/R	405.9	03/22/2018 21:42:00	E-mail	None Planned	Independent Research	Research Analyst
Ferrexpo, U/R, #41826	Dmitry Glushakov	Ferrexpo	Equity	GB00B1XH2C03, FXPO LN	U/R	313	03/20/2018 11:55:00	E-mail	None Planned	Independent Research	Research Analyst
Polymetal International, U/R, #41716	Dmitry Glushakov	Polymetal International	Equity	JE00B6T5S470, POLY LN	U/R	785	03/12/2018 18:19:00	E-mail	None Planned	Independent Research	Research Analyst
Sollers, Hold, #41673	Vladimir Bespalov	Sollers	Equity	RU0006914488, SVAV RX	Hold	630	03/07/2018 14:30:00	E-mail	None Planned	Independent Research	Research Analyst	720
Eurocash, Buy, #41594	Maria Kolbina	Eurocash	Equity	PLEURCH00011, EUR PW	Buy	23.34	02/28/2018 19:07:00	E-mail	None Planned	Independent Research	Research Analyst	30
TGK-1, Hold, #41320	Vladimir Sklyar	TGK-1	Equity	RU000A0JNUD0, TGKA RX	Hold	0.012	02/28/2018 12:07:00	E-mail	None Planned	Independent Research	Research Analyst	0.014
OGK-2, Buy, #41320	Vladimir Sklyar	OGK-2	Equity	RU000A0JNG55, OGKB RX	Buy	0.48	02/28/2018 12:07:00	E-mail	None Planned	Independent Research	Research Analyst	0.66
Mosenergo, Hold, #41320	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	Hold	2.69	02/28/2018 12:07:00	E-mail	None Planned	Independent Research	Research Analyst	2.82
NLMK, U/R, #41487	Dmitry Glushakov	NLMK	Equity	US67011E2046, NLMK LI	U/R	26.67	02/21/2018 11:41:00	E-mail	None Planned	Independent Research	Research Analyst
Rushydro, Buy, #41066	Vladimir Sklyar	Rushydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.77	02/22/2018 11:54:00	E-mail	None Planned	Independent Research	Research Analyst	1.33
Turkiye Vakiflar Bankasi Tao, Sell, #41046	Akin Tuzun	Turkiye Vakiflar Bankasi Tao	Equity	TREVKFB00019, VAKBN TI	Sell	7.28	02/19/2018 17:22:00	E-mail	None Planned	Independent Research	Research Analyst	7
Turkiye Halk Bankasi AS, Sell, #41046	Akin Tuzun	Turkiye Halk Bankasi AS	Equity	TRETHAL00019, HALKB TI	Sell	9.85	02/19/2018 17:22:00	E-mail	None Planned	Independent Research	Research Analyst	9
Yapi ve Kredi Bankasi, Hold, #41046	Akin Tuzun	Yapi ve Kredi Bankasi	Equity	TRAYKBNK91N6, YKBNK TI	Hold	4.81	02/19/2018 17:22:00	E-mail	None Planned	Independent Research	Research Analyst	5.2
Turkiye Is Bankasi, Sell, #41046	Akin Tuzun	Turkiye Is Bankasi	Equity	TRAISCTR91N2, ISCTR TI	Sell	7.6	02/19/2018 17:22:00	E-mail	None Planned	Independent Research	Research Analyst	6.8
Turkiye Garanti Bankasi, Sell, #41046	Akin Tuzun	Turkiye Garanti Bankasi	Equity	TRAGARAN91N1, GARAN TI	Sell	11.92	02/19/2018 17:22:00	E-mail	None Planned	Independent Research	Research Analyst	10.3
Akbank, Sell, #41046	Akin Tuzun	Akbank	Equity	TRAAKBNK91N6, AKBNK TI	Sell	10.57	02/19/2018 17:22:00	E-mail	None Planned	Independent Research	Research Analyst	9.5
SBER	Tomas Gatek	SBER LI	Equity	US80585Y3080	Buy	19.1	02/09/2018 14:00:00	E-mail	Daily	Short-term Sales & Trading Idea	Equity Sales	320		N/A
MGNT LI	Tomas Gatek	MAGNIT	Equity	US55953Q2021	Sell	20.91	02/09/2018 14:00:00	E-mail	Daily	Short-term Sales & Trading Idea	Equity Sales	N/A		N/A
NLMK	Tomas Gatek	NLMK LI	Equity	US67011E2046	Sell	25.99	02/09/2018 14:00:00	E-mail	Daily	Short-term Sales & Trading Idea	Equity Sales	26.26		N/A
TCS	Tomas Gatek	TCS LI	Equity	US87238U2033	Buy	21.8	02/09/2018 14:00:00	E-mail	Daily	Short-term Sales & Trading Idea	Equity Sales Trader	24		N/A
MGNT	Tomas Gatek	MGNT	Equity	N/A	Buy	21.6	02/09/2018 14:00:00	E-mail	Daily	Short-term Sales & Trading Idea	Equity Sales	19		N/A
Global Trans	Tomas Gatek	Globatrans	Equity	US37949E2046	Buy	10.82	02/01/2018 14:25:00	Chat	Daily	Short-term Sales & Trading Idea	Equity Sales	9.8		N/A
Globaltrans, Buy, #41218	Elena Sakhnova	Globaltrans	Equity	US37949E2046, GLTR LI	Buy	10.8	02/02/2018 12:12:00	E-mail	None Planned	Independent Research	Research Analyst	13.3
MHP, Hold, #41156	Nikolay Kovalev	MHP	Equity	US55302T2042, MHPC LI	Hold	14.4	01/25/2018 18:27:00	E-mail	None Planned	Independent Research	Research Analyst	15
Gazprom, Hold, #41029	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Hold	2.54	01/16/2018 21:54:00	E-mail	None Planned	Independent Research	Research Analyst	2.6
MOEX	Tomas Gatek	MOEX	Equity	RU000A0JR4A1	Hold	113.69	01/11/2018 11:25:00	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	N/A		N/A
PKN	Tomas Gatek	PKN	Equity	N/A	Sell	106.95	01/11/2018 11:25:00	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	N/A		N/A
Global Tran	Tomas Gatek	Globatrans	Equity	US37949E2046	Buy	9.4	01/11/2018 20:00:00	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	N/A		N/A
RUSHYDRO	Tomas Gatek	RUSHYDRO	Equity	RU000A0JPKH7	Buy	1.34	01/11/2018 11:25:00	E-mail	None Planned	Short-term Sales & Trading Idea	Equity Sales	N/A		N/A
Moscow Exchange, Hold, #40934	Mikhail Shlemov	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Hold	110	12/28/2017 11:17:00	E-mail	None Planned	Independent Research	Research Analyst	123
Rosseti (MRSK Holding), U/R, #40861	Vladimir Sklyar	Rosseti (MRSK Holding)	Equity	RU000A0JPVJ0, RSTI RX	U/R	0.87	12/15/2017 22:40:00	E-mail	None Planned	Independent Research	Research Analyst
FSK, U/R, #40861	Vladimir Sklyar	FSK	Equity	RU000A0JPNN9, FEES RX	U/R	0.16	12/15/2017 22:40:00	E-mail	None Planned	Independent Research	Research Analyst
Rushydro, U/R, #40861	Vladimir Sklyar	Rushydro	Equity	RU000A0JPKH7, HYDR RX	U/R	0.82	12/15/2017 22:40:00	E-mail	None Planned	Independent Research	Research Analyst
E.On Russia, U/R, #40861	Vladimir Sklyar	E.On Russia	Equity	RU000A0JNGA5, UPRO RX	U/R	2.65	12/15/2017 22:40:00	E-mail	None Planned	Independent Research	Research Analyst
OGK-2, U/R, #40861	Vladimir Sklyar	OGK-2	Equity	RU000A0JNG55, OGKB RX	U/R	0.48	12/15/2017 22:40:00	E-mail	None Planned	Independent Research	Research Analyst
Enel Russia (OGK-5), U/R, #40861	Vladimir Sklyar	Enel Russia (OGK-5)	Equity	RU000A0F5UN3, ENRU RX	U/R	1.44	12/15/2017 22:40:00	E-mail	None Planned	Independent Research	Research Analyst
Mosenergo, U/R, #40861	Vladimir Sklyar	Mosenergo	Equity	RU0008958863, MSNG RX	U/R	2.71	12/15/2017 22:40:00	E-mail	None Planned	Independent Research	Research Analyst
EN+ GROUP PLC- GDR REG S WI, Buy, #40833	Dmitry Glushakov	EN+ GROUP PLC- GDR REG S WI	Equity	US29355E2081, ENPL LI	Buy	13.3	12/14/2017 14:57:00	E-mail	None Planned	Independent Research	Research Analyst	20
OTP Bank, Buy, #40672	Mikhail Shlemov	OTP Bank	Equity	HU0000061726, OTP HB	Buy	9955	12/06/2017 17:20:00	E-mail	None Planned	Independent Research	Research Analyst	13200
Tatneft, Sell, #40736	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Sell	8.7	12/05/2017 11:53:00	E-mail	None Planned	Independent Research	Research Analyst	7.6
TMK, Buy, #40691	Ekaterina Rodina	TMK	Equity	US87260R2013, TMKS LI	Buy	5.46	11/30/2017 18:59:00	E-mail	None Planned	Independent Research	Research Analyst	6.9
OTP Bank, U/R, #40467	Mikhail Shlemov	OTP Bank	Equity	HU0000061726, OTP HB	U/R	10445	11/10/2017 18:52:00	E-mail	None Planned	Independent Research	Research Analyst
Georgia Healthcare Group, Hold, #40491	Maria Kolbina	Georgia Healthcare Group	Equity	GB00BYSS4K11, GHG LN	Hold	340.1	11/14/2017 12:13:00	E-mail	None Planned	Independent Research	Research Analyst	380
RusAgro, Hold, #40553	Nikolay Kovalev	RusAgro	Equity	US7496552057, AGRO LI	Hold	11.55	11/17/2017 19:08:00	E-mail	None Planned	Independent Research	Research Analyst	11
Yandex, Hold, #39996	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Hold	33.83	11/02/2017 17:14:00	E-mail	None Planned	Independent Research	Research Analyst	37
Aeroflot, Hold, #40331	Elena Sakhnova	Aeroflot	Equity	RU0009062285, AFLT RX	Hold	180	11/01/2017 16:57:00	E-mail	None Planned	Independent Research	Research Analyst	190
Phosagro, Hold, #40332	Elena Sakhnova	Phosagro	Equity	US71922G2093, PHOR LI	Hold	13.75	11/01/2017 23:31:00	E-mail	None Planned	Independent Research	Research Analyst	14.25
Acron, Buy, #40332	Elena Sakhnova	Acron	Equity	RU0009028674, AKRN RX	Buy	3615	11/01/2017 23:31:00	E-mail	None Planned	Independent Research	Research Analyst	4200
TCS Group, Buy, #40163	Mikhail Shlemov	TCS Group	Equity	US87238U2033, TCS LI	Buy	17.5	10/30/2017 15:55:00	E-mail	None Planned	Independent Research	Research Analyst	24
Sberbank, Buy, #40163	Mikhail Shlemov	Sberbank	Equity	RU0009029540, SBER RX	Buy	192.8	10/30/2017 15:55:00	E-mail	None Planned	Independent Research	Research Analyst	320
Global Ports, Buy, #40291	Elena Sakhnova	Global Ports	Equity	US37951Q2021, GLPR LI	Buy	4	10/31/2017 13:12:00	E-mail	None Planned	Independent Research	Research Analyst	5
Transneft, Buy, #40174	Dmitry Loukashov	Transneft	Equity	RU0009091573, TRNFP RX	Buy	184450	10/30/2017 13:15:00	E-mail	None Planned	Independent Research	Research Analyst	218000
Georgia Healthcare Group, Buy, #39862	Maria Kolbina	Georgia Healthcare Group	Equity	GB00BYSS4K11, GHG LN	Buy	307.5	10/12/2017 12:05:00	E-mail	None Planned	Independent Research	Research Analyst	400
Turkiye Vakiflar Bankasi Tao, Buy, #39795	Akin Tuzun	Turkiye Vakiflar Bankasi Tao	Equity	TREVKFB00019, VAKBN TI	Buy	6.27	10/04/2017 12:08:00	E-mail	None Planned	Independent Research	Research Analyst	8.2
Turkiye Halk Bankasi AS, Hold, #39795	Akin Tuzun	Turkiye Halk Bankasi AS	Equity	TRETHAL00019, HALKB TI	Hold	12.12	10/04/2017 12:08:00	E-mail	None Planned	Independent Research	Research Analyst	14
Yapi ve Kredi Bankasi, Hold, #39795	Akin Tuzun	Yapi ve Kredi Bankasi	Equity	TRAYKBNK91N6, YKBNK TI	Hold	4.32	10/04/2017 12:08:00	E-mail	None Planned	Independent Research	Research Analyst	4.9
Turkiye Is Bankasi, Sell, #39795	Akin Tuzun	Turkiye Is Bankasi	Equity	TRAISCTR91N2, ISCTR TI	Sell	6.78	10/04/2017 12:08:00	E-mail	None Planned	Independent Research	Research Analyst	6.5
Turkiye Garanti Bankasi, Hold, #39795	Akin Tuzun	Turkiye Garanti Bankasi	Equity	TRAGARAN91N1, GARAN TI	Hold	9.68	10/04/2017 12:08:00	E-mail	None Planned	Independent Research	Research Analyst	10.7
Akbank, Sell, #39795	Akin Tuzun	Akbank	Equity	TRAAKBNK91N6, AKBNK TI	Sell	9.4	10/04/2017 12:08:00	E-mail	None Planned	Independent Research	Research Analyst	9.3
Norilsk Nickel, Buy, #39205	Dmitry Glushakov	Norilsk Nickel	Equity	US55315J1025, MNOD LI	Buy	16.45	09/21/2017 12:18:00	E-mail	None Planned	Independent Research	Research Analyst	20.5
Qiwi, Buy, #39461	Vladimir Bespalov	Qiwi	Equity	US74735M1080, QIWI US	Buy	17.77	08/18/2017 16:30:00	E-mail	None Planned	Independent Research	Research Analyst	27
Rushydro, Buy, #39523	Mikhail Rasstrigin	Rushydro	Equity	RU000A0JPKH7, HYDR RX	Buy	0.83	08/29/2017 17:27:00	E-mail	None Planned	Independent Research	Research Analyst	1.15
Gazprom, Buy, #39626	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Buy	2.01	08/30/2017 15:04:00	E-mail	None Planned	Independent Research	Research Analyst	2.3
RBI, Hold, #39540	Jason Hurwitz	RBI	Equity	AT0000606306, RBI AV	Hold	27.01	08/31/2017 11:10:00	E-mail	None Planned	Independent Research	Research Analyst	29
Moscow Exchange, Buy, #39222	Jason Hurwitz	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Buy	105.3	09/04/2017 22:27:00	E-mail	None Planned	Independent Research	Research Analyst	135
LSR Group, Hold, #39687	Maria Kolbina	LSR Group	Equity	US50218G2066, LSRG LI	Hold	3	09/13/2017 13:01:00	E-mail	None Planned	Independent Research	Research Analyst	3.1
Etalon Group, Buy, #39687	Maria Kolbina	Etalon Group	Equity	US29760G1031, ETLN LI	Buy	4	09/13/2017 13:01:00	E-mail	None Planned	Independent Research	Research Analyst	5
GPH, Buy, #38980	Elena Sakhnova	GPH	Equity	GB00BD2ZT390, GPH LN	Buy	677.5	08/04/2017 13:11:00	E-mail	None Planned	Independent Research	Research Analyst	910
NLMK, Hold, #39187	Dmitry Glushakov	NLMK	Equity	US67011E2046, NLMK LI	Hold	21	07/28/2017 12:25:00	E-mail	None Planned	Independent Research	Research Analyst	21
Turkiye Vakiflar Bankasi Tao, Hold, #38986	Akin Tuzun	Turkiye Vakiflar Bankasi Tao	Equity	TREVKFB00019, VAKBN TI	Hold	6.91	07/12/2017 15:49:00	E-mail	None Planned	Independent Research	Research Analyst	7.6
Turkiye Halk Bankasi AS, Hold, #38986	Akin Tuzun	Turkiye Halk Bankasi AS	Equity	TRETHAL00019, HALKB TI	Hold	14	07/12/2017 15:49:00	E-mail	None Planned	Independent Research	Research Analyst	15.4
Yapi ve Kredi Bankasi, Sell, #38986	Akin Tuzun	Yapi ve Kredi Bankasi	Equity	TRAYKBNK91N6, YKBNK TI	Sell	4.58	07/12/2017 15:49:00	E-mail	None Planned	Independent Research	Research Analyst	4.55
Turkiye Is Bankasi, Sell, #38986	Akin Tuzun	Turkiye Is Bankasi	Equity	TRAISCTR91N2, ISCTR TI	Sell	7.77	07/12/2017 15:49:00	E-mail	None Planned	Independent Research	Research Analyst	7.3
Turkiye Garanti Bankasi, Sell, #38986	Akin Tuzun	Turkiye Garanti Bankasi	Equity	TRAGARAN91N1, GARAN TI	Sell	10.41	07/12/2017 15:49:00	E-mail	None Planned	Independent Research	Research Analyst	10.3
Akbank, Sell, #38986	Akin Tuzun	Akbank	Equity	TRAAKBNK91N6, AKBNK TI	Sell	10.25	07/12/2017 15:49:00	E-mail	None Planned	Independent Research	Research Analyst	9.7
Moscow Exchange, Hold, #39016	Jason Hurwitz	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Hold	114.7	07/13/2017 18:38:00	E-mail	None Planned	Independent Research	Research Analyst	125
Bank St Petersburg, Hold, #39029	Jason Hurwitz	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Hold	61.5	07/14/2017 21:48:00	E-mail	None Planned	Independent Research	Research Analyst	70
Yandex, Hold, #39039	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Hold	31.68	07/17/2017 17:18:00	E-mail	None Planned	Independent Research	Research Analyst	34
LSR Group, U/R, #39149	Maria Kolbina	LSR Group	Equity	US50218G2066, LSRG LI	U/R	2.69	07/25/2017 15:57:00	E-mail	None Planned	Independent Research	Research Analyst
Global Ports, Buy, #38895	Elena Sakhnova	Global Ports	Equity	US37951Q2021, GLPR LI	Buy	3.5	07/03/2017 15:08:00	E-mail	None Planned	Independent Research	Research Analyst	4.5
Moscow Exchange, Buy, #38941	Jason Hurwitz	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Buy	106	07/05/2017 21:55:00	E-mail	None Planned	Independent Research	Research Analyst	125
Tupras, Hold, #38948	Ekaterina Rodina	Tupras	Equity	TRATUPRS91E8, TUPRS TI	Hold	100.2	07/06/2017 17:20:00	E-mail	None Planned	Independent Research	Research Analyst	100
Globaltrans, Hold, #38709	Elena Sakhnova	Globaltrans	Equity	US37949E2046, GLTR LI	Hold	7.24	06/27/2017 16:45:00	E-mail	None Planned	Independent Research	Research Analyst	8
Yandex, Buy, #38741	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Buy	25.74	06/15/2017 17:44:00	E-mail	None Planned	Independent Research	Research Analyst	31
Qiwi, Hold, #38777	Vladimir Bespalov	Qiwi	Equity	US74735M1080, QIWI US	Hold	25.2	06/19/2017 19:57:00	E-mail	None Planned	Independent Research	Research Analyst	27
Norilsk Nickel, U/R, #38717	Dmitry Glushakov	Norilsk Nickel	Equity	US55315J1025, MNOD LI	U/R	14.14	06/13/2017 22:13:00	E-mail	None Planned	Independent Research	Research Analyst
Turkiye Vakiflar Bankasi Tao, Buy, #38408	Akin Tuzun	Turkiye Vakiflar Bankasi Tao	Equity	TREVKFB00019, VAKBN TI	Buy	6.51	06/06/2017 19:38:00	E-mail	None Planned	Independent Research	Research Analyst	7.9
Turkiye Halk Bankasi AS, Buy, #38408	Akin Tuzun	Turkiye Halk Bankasi AS	Equity	TRETHAL00019, HALKB TI	Buy	12.78	06/06/2017 19:38:00	E-mail	None Planned	Independent Research	Research Analyst	15.8
Yapi ve Kredi Bankasi, Hold, #38408	Akin Tuzun	Yapi ve Kredi Bankasi	Equity	TRAYKBNK91N6, YKBNK TI	Hold	4.42	06/06/2017 19:38:00	E-mail	None Planned	Independent Research	Research Analyst	5
Turkiye Is Bankasi, Hold, #38408	Akin Tuzun	Turkiye Is Bankasi	Equity	TRAISCTR91N2, ISCTR TI	Hold	7.09	06/06/2017 19:38:00	E-mail	None Planned	Independent Research	Research Analyst	7.45
Turkiye Garanti Bankasi, Hold, #38408	Akin Tuzun	Turkiye Garanti Bankasi	Equity	TRAGARAN91N1, GARAN TI	Hold	9.64	06/06/2017 19:38:00	E-mail	None Planned	Independent Research	Research Analyst	10.6
Akbank, Hold, #38408	Akin Tuzun	Akbank	Equity	TRAAKBNK91N6, AKBNK TI	Hold	9.66	06/06/2017 19:38:00	E-mail	None Planned	Independent Research	Research Analyst	10
TMK, Hold, #38553	Dmitry Loukashov	TMK	Equity	US87260R2013, TMKS LI	Hold	5.96	05/31/2017 22:27:00	E-mail	None Planned	Independent Research	Research Analyst	6.2
Novatek, Sell, #38553	Dmitry Loukashov	Novatek	Equity	US6698881090, NVTK LI	Sell	115.7	05/31/2017 22:27:00	E-mail	None Planned	Independent Research	Research Analyst	85
Gazprom Neft, Hold, #38553	Dmitry Loukashov	Gazprom Neft	Equity	RU0009062467, SIBN RX	Hold	3.58	05/31/2017 22:27:00	E-mail	None Planned	Independent Research	Research Analyst	3.7
Tatneft, Hold, #38553	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Hold	6.84	05/31/2017 22:27:00	E-mail	None Planned	Independent Research	Research Analyst	6.7
Lukoil, Hold, #38553	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	49.94	05/31/2017 22:27:00	E-mail	None Planned	Independent Research	Research Analyst	52
Surgutneftegas, Sell, #38553	Dmitry Loukashov	Surgutneftegas	Equity	RU0008926258, SNGS RX	Sell	0.55	05/31/2017 22:27:00	E-mail	None Planned	Independent Research	Research Analyst	0.53
Gazprom, Hold, #38553	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Hold	2.16	05/31/2017 22:27:00	E-mail	None Planned	Independent Research	Research Analyst	2.3
Mail.ru Group, Hold, #38606	Vladimir Bespalov	Mail.ru Group	Equity	US5603172082, MAIL LI	Hold	26.36	06/05/2017 17:22:00	E-mail	None Planned	Independent Research	Research Analyst	29
Yandex, Hold, #38606	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Hold	27.09	06/05/2017 17:22:00	E-mail	None Planned	Independent Research	Research Analyst	31
Bank St Petersburg, Buy, #38680	Jason Hurwitz	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Buy	59.3	06/08/2017 22:20:00	E-mail	None Planned	Independent Research	Research Analyst	70
Acron, Hold, #38569	Elena Sakhnova	Acron	Equity	RU0009028674, AKRN RX	Hold	54.56	05/30/2017 17:27:00	E-mail	None Planned	Independent Research	Research Analyst	53
Qiwi, U/R, #38364	Vladimir Bespalov	Qiwi	Equity	US74735M1080, QIWI US	U/R	19.61	05/15/2017 14:02:00	E-mail	None Planned	Independent Research	Research Analyst
Moscow Exchange, Hold, #38437	Jason Hurwitz	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Hold	107.1	05/19/2017 18:54:00	E-mail	None Planned	Independent Research	Research Analyst	115
Highland Gold, Buy, #38452	Dmitry Glushakov	Highland Gold	Equity	GB0032360173, HGM LN	Buy	153.3	05/24/2017 11:22:00	E-mail	None Planned	Independent Research	Research Analyst	200
PIK Group, Hold, #38347	Maria Kolbina	PIK Group	Equity	RU000A0JP7J7, PIKK RX	Hold	287	05/24/2017 22:49:00	E-mail	None Planned	Independent Research	Research Analyst	310
Qiwi, Buy, #38479	Vladimir Bespalov	Qiwi	Equity	US74735M1080, QIWI US	Buy	22.52	05/26/2017 11:55:00	E-mail	None Planned	Independent Research	Research Analyst	27
Bank St Petersburg, Hold, #38529	Jason Hurwitz	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Hold	61.9	05/26/2017 12:00:00	E-mail	None Planned	Independent Research	Research Analyst	70
Yandex, U/R, #38406	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	U/R	28.99	05/17/2017 17:57:00	E-mail	None Planned	Independent Research	Research Analyst
Cherkizovo Group, U/R, #38344	Nikolay Kovalev	Cherkizovo Group	Equity	US1641452032, CHE LI	U/R	13	05/11/2017 21:52:00	E-mail	None Planned	Independent Research	Research Analyst
Erste Group, Hold, #38306	Jason Hurwitz	Erste Group	Equity	AT0000652011, EBS AV	Hold	32.23	05/05/2017 20:48:00	E-mail	None Planned	Independent Research	Research Analyst	33
Tatneft, Hold, #38232	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Hold	5.95	04/27/2017 21:07:00	E-mail	None Planned	Independent Research	Research Analyst	5.8
Mail.ru Group, U/R, #38243	Vladimir Bespalov	Mail.ru Group	Equity	US5603172082, MAIL LI	U/R	24.55	04/28/2017 19:07:00	E-mail	None Planned	Independent Research	Research Analyst
Cherkizovo Group, Hold, #37929	Nikolay Kovalev	Cherkizovo Group	Equity	US1641452032, CHE LI	Hold	10	04/03/2017 20:50:00	E-mail	None Planned	Independent Research	Research Analyst	10.5
Polymetal International, Buy, #37701	Dmitry Glushakov	Polymetal International	Equity	JE00B6T5S470, POLY LN	Buy	1005	04/06/2017 11:30:00	E-mail	None Planned	Independent Research	Research Analyst	1300
Highland Gold, Hold, #38021	Dmitry Glushakov	Highland Gold	Equity	GB0032360173, HGM LN	Hold	179	04/12/2017 14:37:00	E-mail	None Planned	Independent Research	Research Analyst	180
Sollers, Buy, #38044	Vladimir Bespalov	Sollers	Equity	RU0006914488, SVAV RX	Buy	576	04/13/2017 16:24:00	E-mail	None Planned	Independent Research	Research Analyst	750
Bank St Petersburg, Buy, #38058	Jason Hurwitz	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Buy	59.1	04/14/2017 13:20:00	E-mail	None Planned	Independent Research	Research Analyst	75
Norilsk Nickel, Hold, #37857	Dmitry Glushakov	Norilsk Nickel	Equity	US55315J1025, MNOD LI	Hold	15.61	03/30/2017 12:15:00	E-mail	None Planned	Independent Research	Research Analyst	16
UC Rusal, Buy, #37856	Dmitry Glushakov	UC Rusal	Equity	JE00B5BCW814, 486 HK	Buy	3.84	03/30/2017 11:56:00	E-mail	None Planned	Independent Research	Research Analyst	6
RusAgro, Buy, #37871	Nikolay Kovalev	RusAgro	Equity	US7496552057, AGRO LI	Buy	11.65	03/29/2017 11:10:00	E-mail	None Planned	Independent Research	Research Analyst	14
OFZ Cheap	Maxim Korovin	OFZ	Bond	RU000A0JWHA4	Buy	8.65	11/07/2016 18:00:00	E-mail	Daily	Independent Research	Strategist			Short term
Yandex, Hold, #37686	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Hold	23.62	03/20/2017 20:36:00	E-mail	None Planned	Independent Research	Research Analyst	25
HMS, Buy, #37739	Vladimir Bespalov	HMS	Equity	US40425X2099, HMSG LI	Buy	7.9	03/20/2017 20:06:00	E-mail	None Planned	Independent Research	Research Analyst	9.2
Moscow Exchange, Buy, #37718	Jason Hurwitz	Moscow Exchange	Equity	RU000A0JR4A1, MOEX RX	Buy	110.2	03/16/2017 21:49:00	E-mail	None Planned	Independent Research	Research Analyst	130
Polymetal International, U/R, #37640	Dmitry Glushakov	Polymetal International	Equity	JE00B6T5S470, POLY LN	U/R	913.5	03/13/2017 15:33:00	E-mail	None Planned	Independent Research	Research Analyst
Highland Gold, U/R, #37640	Dmitry Glushakov	Highland Gold	Equity	GB0032360173, HGM LN	U/R	159.3	03/13/2017 15:33:00	E-mail	None Planned	Independent Research	Research Analyst
Lenta, Buy, #37568	Maria Kolbina	Lenta	Equity	US52634T2006, LNTA LI	Buy	6.97	03/07/2017 11:41:00	E-mail	None Planned	Independent Research	Research Analyst	9.5
Kernel Holding, Hold, #37517	Nikolay Kovalev	Kernel Holding	Equity	LU0327357389, KER PW	Hold	79.6	03/01/2017 11:41:00	E-mail	None Planned	Independent Research	Research Analyst	85
EPAM, Hold, #37480	Vladimir Bespalov	EPAM	Equity	US29414B1044, EPAM US	Hold	74.33	02/27/2017 23:05:00	E-mail	None Planned	Independent Research	Research Analyst	79
Turkiye Vakiflar Bankasi Tao, Hold, #37271	Akin Tuzun	Turkiye Vakiflar Bankasi Tao	Equity	TREVKFB00019, VAKBN TI	Hold	5.25	02/23/2017 13:29:00	E-mail	None Planned	Independent Research	Research Analyst	5.7
Turkiye Halk Bankasi AS, Hold, #37271	Akin Tuzun	Turkiye Halk Bankasi AS	Equity	TRETHAL00019, HALKB TI	Hold	11.46	02/23/2017 13:29:00	E-mail	None Planned	Independent Research	Research Analyst	13
Yapi ve Kredi Bankasi, Hold, #37271	Akin Tuzun	Yapi ve Kredi Bankasi	Equity	TRAYKBNK91N6, YKBNK TI	Hold	3.95	02/23/2017 13:29:00	E-mail	None Planned	Independent Research	Research Analyst	4.25
Turkiye Is Bankasi, Hold, #37271	Akin Tuzun	Turkiye Is Bankasi	Equity	TRAISCTR91N2, ISCTR TI	Hold	6.33	02/23/2017 13:29:00	E-mail	None Planned	Independent Research	Research Analyst	6.8
Turkiye Garanti Bankasi, Hold, #37271	Akin Tuzun	Turkiye Garanti Bankasi	Equity	TRAGARAN91N1, GARAN TI	Hold	9.03	02/23/2017 13:29:00	E-mail	None Planned	Independent Research	Research Analyst	10
Akbank, Hold, #37271	Akin Tuzun	Akbank	Equity	TRAAKBNK91N6, AKBNK TI	Hold	8.98	02/23/2017 13:29:00	E-mail	None Planned	Independent Research	Research Analyst	9.15
FSK, Buy, #37215	Mikhail Rasstrigin	FSK	Equity	RU000A0JPNN9, FEES RX	Buy	0.24	02/02/2017 20:56:00	E-mail	None Planned	Independent Research	Research Analyst	0.3
Tupras, Buy, #37198	Ekaterina Rodina	Tupras	Equity	TRATUPRS91E8, TUPRS TI	Buy	81.65	02/03/2017 11:10:00	E-mail	None Planned	Independent Research	Research Analyst	100
Turcas, Sell, #37198	Ekaterina Rodina	Turcas	Equity	TRATRCAS92E6, TRCAS TI	Sell	1.54	02/03/2017 11:10:00	E-mail	None Planned	Independent Research	Research Analyst	1.4
Aygaz, Buy, #37198	Ekaterina Rodina	Aygaz	Equity	TRAAYGAZ91E0, AYGAZ TI	Buy	12.75	02/03/2017 11:10:00	E-mail	None Planned	Independent Research	Research Analyst	15
Turkish Airlines, Hold, #36805	Elena Sakhnova	Turkish Airlines	Equity	TRATHYAO91M5, THYAO TI	Hold	5.47	01/31/2017 19:39:00	E-mail	None Planned	Independent Research	Research Analyst	6
Sollers, Hold, #37146	Vladimir Bespalov	Sollers	Equity	RU0006914488, SVAV RX	Hold	628	01/31/2017 13:46:00	E-mail	None Planned	Independent Research	Research Analyst	700
NCSP, U/R, #37135	Elena Sakhnova	NCSP	Equity	US67011U2087, NCSP LI	U/R	8.91	01/30/2017 20:10:00	E-mail	None Planned	Independent Research	Research Analyst
RusAgro, Hold, #37149	Nikolay Kovalev	RusAgro	Equity	US7496552057, AGRO LI	Hold	14.2	01/27/2017 18:47:00	E-mail	None Planned	Independent Research	Research Analyst	15.5
Bank St Petersburg, Sell, #36997	Jason Hurwitz	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Sell	75.55	01/13/2017 22:19:00	E-mail	None Planned	Independent Research	Research Analyst	65
Etalon Group, Hold, #37009	Maria Kolbina	Etalon Group	Equity	US29760G1031, ETLN LI	Hold	3.92	01/16/2017 18:08:00	E-mail	None Planned	Independent Research	Research Analyst	4
Yandex, Hold, #36951	Vladimir Bespalov	Yandex	Equity	NL0009805522, YNDX US	Hold	21.95	01/10/2017 18:13:00	E-mail	None Planned	Independent Research	Research Analyst	23.3
Tatneft, Sell, #36878	Dmitry Loukashov	Tatneft	Equity	RU0009033591, TATN RX	Sell	6.71	12/23/2016 16:16:00	E-mail	None Planned	Independent Research	Research Analyst	5.7
Lukoil, Hold, #36878	Dmitry Loukashov	Lukoil	Equity	RU0009024277, LKOH RX	Hold	56.18	12/23/2016 16:16:00	E-mail	None Planned	Independent Research	Research Analyst	64
Gazprom, Hold, #36878	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Hold	2.5	12/23/2016 16:16:00	E-mail	None Planned	Independent Research	Research Analyst	2.8
Acron, Sell, #36807	Elena Sakhnova	Acron	Equity	RU0009028674, AKRN RX	Sell	60.91	12/15/2016 14:05:00	E-mail	None Planned	Independent Research	Research Analyst	53
Nordgold, Hold, #36747	Dmitry Glushakov	Nordgold	Equity	US65557T2050, NORD LI	Hold	3.2	12/14/2016 19:25:00	E-mail	None Planned	Independent Research	Research Analyst	3.4
Polymetal International, Buy, #36747	Dmitry Glushakov	Polymetal International	Equity	JE00B6T5S470, POLY LN	Buy	783	12/14/2016 19:25:00	E-mail	None Planned	Independent Research	Research Analyst	1000
Highland Gold, Hold, #36747	Dmitry Glushakov	Highland Gold	Equity	GB0032360173, HGM LN	Hold	125.5	12/14/2016 19:25:00	E-mail	None Planned	Independent Research	Research Analyst	140
TCS Group, Sell, #36738	Jason Hurwitz	TCS Group	Equity	US87238U2033, TCS LI	Sell	10.05	12/12/2016 18:19:00	E-mail	None Planned	Independent Research	Research Analyst	8
Bank St Petersburg, Hold, #36738	Jason Hurwitz	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Hold	59.1	12/12/2016 18:19:00	E-mail	None Planned	Independent Research	Research Analyst	65
Sberbank, Hold, #36738	Jason Hurwitz	Sberbank	Equity	RU0009029540, SBER RX	Hold	169	12/12/2016 18:19:00	E-mail	None Planned	Independent Research	Research Analyst	175
Bank Pekao, Hold, #36745	Jason Hurwitz	Bank Pekao	Equity	PLPEKAO00016, PEO PW	Hold	120.5	12/08/2016 22:36:00	E-mail	None Planned	Independent Research	Research Analyst	130
Bull option strategy on Gazprom	EQD trading desk	Gazprom	Equity	US3682872078	Buy		11/28/2016 13:00:00	E-mail	None Planned	Short-term Sales & Trading Idea	trader	5.6
Dixy, Sell, #36492	Maria Kolbina	Dixy	Equity	RU000A0JP7H1, DIXY RX	Sell	311.6	11/16/2016 21:50:00	E-mail	None Planned	Independent Research	Research Analyst	250
Gazprom, Buy, #36273	Dmitry Loukashov	Gazprom	Equity	RU0007661625, GAZP RX	Buy	2.19	11/01/2016 14:44:00	E-mail	None Planned	Independent Research	Research Analyst	2.8
Polymetal International, U/R, #36103	Wiktor Bielski	Polymetal International	Equity	JE00B6T5S470, POLY LN	U/R	879.5	10/19/2016 13:23:00	E-mail	None Planned	Independent Research	Research Analyst
Turkiye Vakiflar Bankasi Tao, Buy, #35500	Akin Tuzun	Turkiye Vakiflar Bankasi Tao	Equity	TREVKFB00019, VAKBN TI	Buy	4.46	10/19/2016 20:18:00	E-mail	None Planned	Independent Research	Research Analyst	6
Turkiye Halk Bankasi AS, Buy, #35500	Akin Tuzun	Turkiye Halk Bankasi AS	Equity	TRETHAL00019, HALKB TI	Buy	8.91	10/19/2016 20:18:00	E-mail	None Planned	Independent Research	Research Analyst	15
Yapi ve Kredi Bankasi, Buy, #35500	Akin Tuzun	Yapi ve Kredi Bankasi	Equity	TRAYKBNK91N6, YKBNK TI	Buy	3.53	10/19/2016 20:18:00	E-mail	None Planned	Independent Research	Research Analyst	4.6
Turkiye Is Bankasi, Buy, #35500	Akin Tuzun	Turkiye Is Bankasi	Equity	TRAISCTR91N2, ISCTR TI	Buy	4.76	10/19/2016 20:18:00	E-mail	None Planned	Independent Research	Research Analyst	6.6
Turkiye Garanti Bankasi, Buy, #35500	Akin Tuzun	Turkiye Garanti Bankasi	Equity	TRAGARAN91N1, GARAN TI	Buy	7.95	10/19/2016 20:18:00	E-mail	None Planned	Independent Research	Research Analyst	10
Akbank, Buy, #35500	Akin Tuzun	Akbank	Equity	TRAAKBNK91N6, AKBNK TI	Buy	8.05	10/19/2016 20:18:00	E-mail	None Planned	Independent Research	Research Analyst	9.9
Lenta, Hold, #36133	Maria Kolbina	Lenta	Equity	US52634T2006, LNTA LI	Hold	7.81	10/20/2016 20:10:00	E-mail	None Planned	Independent Research	Research Analyst	9
HMS, Hold, #36136	Vladimir Bespalov	HMS	Equity	US40425X2099, HMSG LI	Hold	6.99	10/21/2016 16:24:00	E-mail	None Planned	Independent Research	Research Analyst	7.4
Jeronimo Martins, Hold, #33661	Maria Kolbina	Jeronimo Martins	Equity	PTJMT0AE0001, JMT PL	Hold	16.22	10/21/2016 16:34:00	E-mail	None Planned	Independent Research	Research Analyst	17
Eurocash, Hold, #33661	Maria Kolbina	Eurocash	Equity	PLEURCH00011, EUR PW	Hold	40.5	10/21/2016 16:34:00	E-mail	None Planned	Independent Research	Research Analyst	46
KTK, Buy, #35912	Wiktor Bielski	KTK	Equity	RU000A0JPYD7, KBTK RX	Buy	73.2	10/07/2016 16:30:00	E-mail	None Planned	Independent Research	Research Analyst	100
Halyk Bank, Buy, #35937	Jason Hurwitz	Halyk Bank	Equity	US46627J3023, HSBK LI	Buy	6.21	10/05/2016 20:20:00	E-mail	None Planned	Independent Research	Research Analyst	7.5
Globaltrans, Hold, #35782	Elena Sakhnova	Globaltrans	Equity	US37949E2046, GLTR LI	Hold	4.7	09/27/2016 19:11:00	E-mail	None Planned	Independent Research	Research Analyst	5
Steppe Cement, Buy, #35741	Vladimir Bespalov	Steppe Cement	Equity	MYA004433001, STCM LN	Buy	18.5	09/21/2016 18:24:00	E-mail	None Planned	Independent Research	Research Analyst	29
LSR Group, Hold, #35622	Maria Kolbina	LSR Group	Equity	US50218G2066, LSRG LI	Hold	3	09/09/2016 17:08:00	E-mail	None Planned	Independent Research	Research Analyst	3.5
O'key, Sell, #35434	Maria Kolbina	O'key	Equity	US6708662019, OKEY LI	Sell	1.7	09/02/2016 21:03:00	E-mail	None Planned	Independent Research	Research Analyst	1.4
KOMERCNI BANKA, Hold, #35513	Jason Hurwitz	KOMERCNI BANKA	Equity	CZ0008019106, KOMB CP	Hold	818	08/30/2016 20:08:00	E-mail	None Planned	Independent Research	Research Analyst	900
TCS Group, Sell, #35384	Jason Hurwitz	TCS Group	Equity	US87238U2033, TCS LI	Sell	6.07	08/24/2016 17:39:00	E-mail	None Planned	Independent Research	Research Analyst	4.5
Bank St Petersburg, Hold, #35384	Jason Hurwitz	Bank St Petersburg	Equity	RU0009100945, BSPB RX	Hold	56.95	08/24/2016 17:39:00	E-mail	None Planned	Independent Research	Research Analyst	60
Sberbank, Sell, #35384	Jason Hurwitz	Sberbank	Equity	RU0009029540, SBER RX	Sell	137.4	08/24/2016 17:39:00	E-mail	None Planned	Independent Research	Research Analyst	125
M.Video, Hold, #35435	Maria Kolbina	M.Video	Equity	RU000A0JPGA0, MVID RX	Hold	356.7	08/23/2016 22:26:00	E-mail	None Planned	Independent Research	Research Analyst	400
Take profits in LKOD & ROSN	Richard McKay	LKOD, ROSN	Equity		Sell		08/18/2016 11:00:00	E-mail	None Planned	Short-term Sales & Trading Idea	Salestrader
Raspadskaya, Sell, #35209	Wiktor Bielski	Raspadskaya	Equity	RU000A0B90N8, RASP RX	Sell	34.22	08/12/2016 21:18:00	E-mail	None Planned	Independent Research	Research Analyst	28
Global Ports, U/R, #35191	Elena Sakhnova	Global Ports	Equity	US37951Q2021, GLPR LI	U/R	2.36	08/04/2016 13:21:00	E-mail	None Planned	Independent Research	Research Analyst
Buy Alrosa	Richard McKay	Alrosa	Equity	RU0007252813	Buy		08/02/2016 14:00:00	Phone	None Planned	Short-term Sales & Trading Idea	Salestrader
Sell Russian Oil, sell Rosneft.	Richard McKay	Rosneft	Equity	US67812M2070	Sell		07/28/2016 16:00:00	Phone	Daily	Short-term Sales & Trading Idea	Salestrader
Buy Rosseti	Richard McKay	Rosseti	Equity	RU000A0JPVJ0	Buy		07/27/2016 16:00:00	Phone	None Planned	Short-term Sales & Trading Idea	Sales trader
Tofas Sell	Vladimir Bespalov	TOFAS TURK OTOMOBIL FABRIKASI A.S.	Equity	TOFAS TURK OTOMOBIL FABRIKASI A.S.	Sell	22.92	07/27/2016 12:35:00	E-mail	None Planned	Independent Research	Reserach	21.2		12 Months
Bank Zachodni WBK S.A. Sell	Jason Hurwitz	Bank Zachodni WBK S.A.	Equity	Bank Zachodni WBK S.A.	Sell	280	07/27/2016 13:55:00	E-mail	None Planned	Independent Research	Reserach	240		12 Months
Bank Pekao Hold	Alexey Zabotkin	Bank Pekao	Equity	BPKD BANK PEKAO SA GDS (REPR 1 ORD PLN1)(REG S)	Hold	41.4	07/27/2016 10:05:00	E-mail	None Planned	Independent Research	Reserach
Orange Polska SA	Ivan Kim	Orange Polska	Equity	OPL WSE	Buy	5.19	07/26/2016 09:00:00	E-mail	None Planned	Independent Research	Reserach	6.5		12 Months
NLMK BUY	Wiktor Bielski	NLMK	Equity	NLMK NOVOLIPETSK STEEL GDS EACH REPR 10 ORD RUB1 'REG S'	Buy	14	07/25/2016 18:00:00	E-mail	None Planned	Independent Research	Reserach	16.7		12 Months
NOVATEK SELL	Dmitry Loukashov	Novatek	Equity	NVTK OAO NOVATEK GDR (EACH REPR 10 ORD) 'REG S'	Sell	101.8	07/26/2016 08:30:00	E-mail	None Planned	Independent Research	Reserach	85		12 Months
Magnit - Hold	Maria Kolbina	Magnit	Equity	MGNT PJSC MAGNIT GDR (5 GDRS REPR 1 ORD) (REG S)	Hold	35.9	07/25/2016 16:40:00	E-mail	None Planned	Independent Research	Reserach	41		12 Months
Take profit in Alrosa	Richard McKay	Alrosa	Equity	RU0007252813	Sell		07/22/2016 11:00:00	Phone	None Planned	Short-term Sales & Trading Idea	Salestrader
LENTA HOLD	Maria Kolbina	LENTA	Equity	LNTR LENTA LTD GDR (EACH 5 REPR 1 ORD) (144A)	Hold	7.59	07/21/2016 21:20:00	E-mail	None Planned	Independent Research	Reserach	8.5		12 Months
Sell Severstal	Richard McKay	Severstal	Equity	US8181503025	Sell		07/21/2016 11:00:00	Phone	None Planned	Short-term Sales & Trading Idea	Sales Trader
O'key Hold	Alexey Zabotkin	O'key Group	Equity	OKEY O'KEY GROUP S.A. GDR (EACH REPR 1 ORD) (REG S)	Hold	2.12	07/21/2016 09:55:00	E-mail	None Planned	Independent Research	Reserach			6 month implied
Megafon Hold	Ivan Kim	Megafon	Equity	MFON PJSC MEGAFON GDR (EACH REPR 1 ORD) (REG S)	Hold	10.75	07/21/2016 09:15:00	E-mail	None Planned	Independent Research	Reserach	10.5		12 Months
Magnit	Maria Kolbina	Magnit	Equity	MGNT PJSC MAGNIT GDR (5 GDRS REPR 1 ORD) (REG S)	Buy	36	07/20/2016 15:30:00	E-mail	None Planned	Independent Research	Reserach	41		12 Months
MD MEDICAL GROUP - BUY - reiterated (12 months)	Maria Kolbina	MD Medical group	Equity	MDMG MD MEDICAL GROUP INVESTMENTS PLC GDR (EACH REPR 1 ORD) (REG S)	Buy	6.52	07/20/2016 16:45:00	E-mail	None Planned	Independent Research	Reserach	7.5
Severstal - Buy - 12 months	Wiktor Bielski	Severstal	Equity	SVST PUBLIC JOINT STOCK COMPANY SEVERSTAL GDR (EACH REPR 1 ORD RUB0.01)(REGS)	Buy	11.61	07/20/2016 15:15:00	E-mail	None Planned	Independent Research	Reserach	13.3
Polymetal international - downgrade to Sell - 12 month	Aexey Zabotikin	Polymetal International	Equity	POLY POLYMETAL INTERNATIONAL PLC ORD NPV	Sell	1098	07/20/2016 17:00:00	E-mail	None Planned	Independent Research	Reserach	840
MMK Buy Reiterated	Alexey Zabotikin	MMK	Equity	MMK OJSC MAGNITOGORSK IRON & STEEL WORKS GDR (EACH REPR 13 ORD RUB1) (REG S)	Buy	5.8	07/20/2016 12:35:00	E-mail	None Planned	Independent Research	Reserach
EVRAZ - Sell reiterated	Alexey Zabotkin	EVRAZ plc	Equity	EVR EVRAZ PLC ORD USD1.00	Sell	154.4	07/20/2016 12:35:00	E-mail	None Planned	Independent Research	Reserach
RUSAGRO - Buy Reiterated	Alexey Zabotkin	Rusagro	Equity	AGRO ROS AGRO PLC GDR (5 REPR 1 ORD) REG S	Buy	14.22	07/20/2016 12:35:00	E-mail	None Planned	Independent Research	Reserach
X5 Retail Group buy Reiterated	Alexey Zabotkin	FIVE X5 RETAIL GROUP N.V GDR EACH REPR 0.25 SHS EUR1 REG'S'	Equity	FIVE X5 RETAIL GROUP N.V GDR EACH REPR 0.25 SHS EUR1 REG'S'	Buy	21.8	07/20/2016 12:35:00	E-mail	None Planned	Independent Research	Reserach
KCell	Ivan Kim	KCEL KCELL JOINT STOCK COMPANY GDR (EACH REPR 1 COM SHR) (REG S)	Equity	Kcel LI	Buy	3.45	07/19/2016 16:35:00	E-mail	Daily	Independent Research	Reserach	4.5
Georgian Banks II	Jason Hurwitz	BGEO Group PLC	Equity	BGEO LN	Sell	2750	07/19/2016 15:05:00	E-mail	None Planned	Independent Research	Reserach	2500
PIK Group (Sell reiterated)	Maria Kolbina	PIK Group	Equity	PIK PIK GROUP GDR (EACH REP 1 ORD RUB62.5)(REGS)	Sell	3.79	07/18/2016 15:25:00	E-mail	None Planned	Independent Research	Reserach
ERSTE GROUP BUY RE-ITERATED	Alexey Zabotkin	ERSTE GROUP	Equity	0MJK ERSTE GROUP BANK AG ERSTE GROUP BANK ORD SHS	Buy	23.16	07/15/2016 13:00:00	E-mail	None Planned	Independent Research	Researach
NLMK BUY REITERATED	Wiktor Bielski	NLMK	Equity	NLMK NOVOLIPETSK STEEL GDS EACH REPR 10 ORD RUB1 'REG S'	Buy	1.98	07/14/2016 18:45:00	E-mail	None Planned	Independent Research	Reserach
Steppe Cement Buy to Hold	Vladimir Bespalov	STEPPE CEMENT	Equity	STCM STEPPE CEMENT LTD ORD NPV	Hold	23.5	07/14/2016 16:00:00	E-mail	None Planned	Independent Research	Steppe Cement
Gerogia "Like" Credit Profle	Maxim Korovin	Ministry of Finance of Georgia	Credit	Credit (incl XS0617134092, 37311PAA8, A1GP1W)	Buy	252	07/11/2016 11:25:00	E-mail	None Planned	Independent Research	Research Analyst
CEEMEA Morning Comment 160706	Alexey Zabotkin	NCSP (Novorossiysk Commercial Sea Port)	Equity		Buy	4.8	07/06/2016 10:00:00	E-mail	None Planned	Independent Research	Deputy Head of Research
CEEMEA Morning Comment	Alexey Zabotkin	Global Ports	Equity		Hold	2.78	07/06/2016 10:00:00	E-mail	None Planned	Independent Research	Deputy Head of Research
KTZ42 trades trough KZOKZ44	Maxim Korovin, Tatiana Chernyavskaya	KTZ	Bond	XS0799658637	Credit Expensive		07/06/2016 19:30:00	E-mail	None Planned	Independent Research
METINR20 is rich against VIP21	Maxim Korovin, Tatiana Chernyavskaya	Metalloinvest	Bond	XS0918297382	Credit Expensive		07/06/2016 19:30:00	E-mail	None Planned	Independent Research
PGILLN20 tight vs. NLMKRU19	Maxim Korovin, Tatiana Chernyavskaya	Polyus Gold	Equity	XS0922301717	Credit Expensive		07/06/2016 19:30:00	E-mail	None Planned	Independent Research
PGILLN20 tight vs. ALROSA20	Maxim Korovin, Tatiana Chernyavskaya	Polyus Gold	Bond	XS0922301717	Credit Expensive		07/06/2016 19:30:00	E-mail	None Planned	Independent Research
ALFARU21 at lows vs. SBERRU21	Maxim Korovin , Tatiana Chernyavskaya	Alfa Bank	Bond	XS0620695204	Credit Expensive		07/06/2016 19:30:00	E-mail	None Planned	Independent Research
ALFARU21 at lows vs. VTB20	Maxim Korovin, Tatiana Chernyavskaya	Alfa Bank	Bond	XS0620695204	Credit Expensive		07/06/2016 19:30:00	E-mail	None Planned	Independent Research
GAZ21 looks tight vs. SBERRU21	Maxim Korovin, Tatiana Chernyavskaya	Gazprom	Bond	XS0708813810	Credit Expensive		07/06/2016 19:30:00	E-mail	None Planned	Independent Research
GAZ22 4.95 looks tight vs. the Lukoil curve	Maxim Korovin, Tatiana Chernyavskaya	Gazprom	Bond	XS0805570354	Credit Expensive		07/06/2016 19:30:00	E-mail	None Planned	Independent Research
RUB is likely to revisit 67-71 area against USD	Maxim Korovin, Tatiana Chernyavskaya	Bank of Russia	FX		Sell	64.64	07/06/2016 11:35:00	E-mail	None Planned	Independent Research
OFZ Navigator - CPI-linker looks attractive	Maxim Korovin Tatiana Chernyavskaya	Russian Fed	Bond		Cheap		07/04/2016 16:45:00	E-mail	None Planned	Independent Research

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