Exchange markets

MICEX (Moscow Interbank Currency Exchange)

MICEX group  is the central infrastructural organization of the Russian financial market providing its participants with a full complex of trading, clearing, settlement and depositary services on the basis of the integrated programmed-technical platform of the international level.

It is an integrated exchange structure rendering services of electronic trade organization, clearing, calculations in transactions, depositary and information services. The Group includes MICEX JSC, "MICEX Stock Exchange "JSC, "National commodity exchange" JSC, "MICEX Clearing house" JSC, non-commercial partnership "National depositary centre", JSC Joint-Stock Commercial Bank "National Clearing Center", regional exchange and financial settlements centers, as well as other organizations. They serve more than 1700 participants of the exchange market — leading Russian banks and broker companies in Moscow and other large financial and industrial centers of Russia. The main task of the stock exchange is the development of market mechanisms of definition of the national currency rate and effective investment turnover of the capital in the economy of Russia on the basis of front exchange and information technologies. The basic directions of activity of MICEX:

• currency market;
• share market;
• state securities and monetary market;
• urgent and commodity market;
• calculations and clearing;
• technologies;
• regional infrastructure;
• international cooperation;
• information.

The group history dates from the beginning of 1990s when during the market reforms the leading Russian banks and the Bank of Russia founded the Moscow Interbank Currency Exchange (MICEX) initially focused on organization of foreign currency auctions. From the first working days of the exchange currency market and until now the dollar exchange rate at the MICEX is one of the indicators of economic reforms carried out in the country.

RTS (Russian Trading System)

RTS Group  is an integrated trading-settlement infrastructure organizationally represented by non-commercial partnership RTS, "Stock exchange "Russian Trading System" JSC, "RTS Clearing centre" JSC, non-profit organization "RTS Clearing house", "Depositary and clearing company" JSC and non-commercial partnership "Stock exchange "St. Petersburg". The main objective of RTS Group is formation and development of economically effective infrastructure for formation of prices for Russian securities and financial tools. In addition, RTS Group includes "SKRIN" JSC possessing a unique system of disclosing information on emitters and professional participants of the securities market of Russia.

• classical market;
• currency market;
• RTS START;
• FORTS;
• exchange market;
• RTS Board.

In August 2006 the General meeting of members of non-commercial partnership RTS confirmed the plan of re-structuring of the Group of RTS. According to this plan, the Group centre should become "RTS" JSC. Such decision was dictated by the market situation which showed that the legal form of open joint-stock company is the most perspective for decision of strategic problems. It allows to raise the efficiency of management of the Group and simplify making administrative decisions. The mission of the "Stock exchange "Russian Trading System" JSC is the construction of a liquid securities and derivative financial tools market with the mechanism of effective control from a wide range of participants.