How to List a Security
Securities are admitted to trading on MICEX SE through the process of their primary placement and secondary circulation. The secondary circulation of securities is possible with or without listing. Securities can be listed if they meet certain requirements such as: financial performance and the stockholders' structure of the issuer, securities' liquidity, total volume of issue, quality of information disclosure, etc.
The rules of listing stipulate the following categories of securities traded on MICEX SE:
placed securities
(the sale of issuer's own securities to their first owner) |
securities traded in the secondary market
(the Federal Service for Stock Markets/the Bank of Russia have registered the Report on the results of the issue of securities) |
Securities traded in the secondary market of MICEX SE are subdivided into the following sectors:
1. MICEX SE listing (listed securities admitted to circulation on MICEX SE):
In compliance with the "Rules of listing, admission to placement and circulation of securities on MICEX Stock Exchange", adopted by the Executive Board of MICEX SE, prices for transactions in listed securities are acknowledged exchange quotations of these securities. These quotations are used for the purposes of regulating the activities of investment funds, valuating net assets, taxation, calculating lending limits and other purposes.
2. Unlisted sector (securities which can be traded on MICEX SE without listing).
Prices for transactions in unlisted securities, set as a result of trading on MICEX SE, are not acknowledged exchange quotations. MICEX SE does not assume obligations to disclose information on such securities and its issuers for participants in trading.
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MICEX Stock Exchange
