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Birth of Moscow Exchange
Created through the merger of two largest stock exchanges in Moscow, the Moscow Interbank Currency Exchange and the Russian Trading System. This merger's goal is to turn moscow into an international financial center. -
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History of Moscow Exchange
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Establishment of Clearing House
The Moscow Exchange completed the Clearing House using the National Clearing Centre being the foundation of the structure. A clearing house is a third party to all future and option investment contracts, each having its own clearing house. The establishment of the Clearing House is a landmark for the entirety of the Russian financial market as it brings Russia closer to the advanced international standards. -
Competitive Selection to boost Liquidity
The Exchange annouces their plan to launch a long-term program that boostes liquidity for the FORTS market. It includes competitive selection of markets with the following quarterly options:
- futures-style option on futures contract on Gazprom ordinary shares
- futures-style option on futures on LUKOIL ordinary shares
- futures-style option on futures on Sberbank ordinary shares -
Launches Connectivity Point In Equinix's London LD4 Data Center
Trade was made easier with a new connectivity point released on October 19. Now that customers have gained a streamline access, more services will be provided and costs will be reduced. -
New Platform Launched for Trading and Clearing on FORTS
A new trading platform allows the Exchange's products and services to grow. Trading and clearing process are now able to be seperated which levels the playing field in the foreign markets. -
Resolution of Board of Directors
In this meeting they approved the engagement letter, which enabled the banks to oraganize the IPO for the Moscow Exchange. This was not the only significant announcement, they also approved a dividend policy, 20% for 2012, 25% for 2013 and 30% for 2014, all will be based on net profits. The directors also discussed integration of two markets, the MICEX and FORTS, and the launch of the FX market. -
Implementation of Spectra Platform
This new system has many new strengths, it is high performance, modular archtecture, uses BUS for high speed data transfer and a risk management system is also build into it. Spectra is able to run 30,000 transactions per second with a response time being less then 1 milisecond. -
Moscow Exchange Float
The Moscow Exchange annouces its plans to float on its own platform. Reasoning behind these plans is because Moscow is turning into a global financial center. This move for the Moscow Exchange to float will raise approximately 380 million Euros. This is so that foreign investors will be able to buy shares as well. -
Moscow Exchange IPO and dividends
The IPO price is set to around 55-63 Rubens for every share. These shares are to be offered by MICEX (Moscow Interbank Currency Exchange) limited and MICEX- Finnance.
The company announced its policy in terms of dividends, it will have dividends of no less than 30% of net profits in December 31, 2012, no less than 40% on 2013 and no less than 50% for 2014. All of which will be calculated under the IFRS. The anouncement for final pricing is expected to be on February 15th. -
Tom O'Brien Recieves the Position of Head of International Sales
Tom O'Brien used to work at the London Stock Exchange in various positions. Now he will start a new job as the head of international sales in the Moscow Exchange. He is scheduled to start leading the international sales team in April.
