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The Cbonds Valuation Pricing Center is a subdivision of Cbonds and operates in accordance with the Cbonds Valuation Pricing Center Regulations published in the Documents Section below. The main purpose of the Cbonds Valuation Pricing Center is to calculate the Indicative Cbonds Quotes of domestic and international bonds (hereinafter referred to as Indicative Quotes). Currently, the Cbonds Valuation Pricing Center calculates the value of CIS international bonds (global and international notes) that are listed on one of the international stock exchanges and are market-tradable (having regularly updated bid and/or ask quotes on stock exchanges or over-the-counter market).