RS Brief news MICEX-RTS renamed to Moscow Exchange

MICEX-RTS renamed to Moscow Exchange

© RIA Novocti, Aleksey Kudenko

The MICEX-RTS joint stock exchange has been renamed to the Moscow Exchange. This change was made thanks to the company's newly-registered charter, which also states that the Chairman of the Board of the joint exchange is its sole head.

The MICEX and RTS exchanges combined towards the end of last year, since then trading has taken place on a single platform. This was done for political reasons, so that the exchange was not weighed down by the internal struggle for the market, enabling it to compete with the world's leading stock exchanges in a bid to establish an International Finance Centre in Moscow. Foreign investors had demanded that the regulations were simplified, referring to the inherent complications in the existence of two parallel structures.

An IPO of the Moscow Exchange is planned for 2013, during which organisers hope to attract over 300 million US dollars in investments.

According to previously-voiced plans, the MICEX-RTS joint stock market should be one of the Top 5 largest stock exchanges in the world in terms of turnover by 2015. In order to achieve this, at the end of the integration process, in 2012-14 the joint exchange will focus on developing its product and infrastructure, and from 2014 will begin actively expanding its presence in the CIS. RS