The MICEX Index (calculated since 22 September 1997; on 28 November 2002, the name "The MICEX Summary Stock Index" was changed for "The MICEX Index") is an effective capitalization-weighted index of the market of most liquid stocks of Russian issuers admitted to circulation on the MICEX. The Methodology of calculation of the MICEX Index is based on a modern system of index management, which includes the formation of the Index Committee and determines the principles of including securities into the index calculation base based on expert evaluations. The MICEX Index is re-calculated real-time when a new transaction in stocks, comprising the index calculation base, is carried out in the main trading mode.