History
January
The daily volume of trading in wheat futures on the NAMEX came near that of Europe’s largest grain exchanges.
Not-for-profit partnership National Depository Center turned 12.
February
The MICEX Stock Exchange’s Board approved the new version of the Specification of the MICEX Index futures, as well as specifications of deliverable futures on individual stocks.
The new version of the Rules of calculation of the MICEX Index was approved.
The MICEX Group’s web site offered a new service to participants in trading: the valuation of the bi-currency basket in real time, USDEUR_BKT. The new service enabled participants to objectively assess the value of the ruble against the world’s most traded currencies in real time and develop their strategy in the foreign exchange market.
NCC obtained a Clearing License from the Federal Financial Markets Service.
A new risk management system (SRM) was implemented in the foreign exchange market, which assigns an internal rating to each member of the Risks Coverage Fund in order to regulate its limit of net positions.
March
Participants in the MICEX government securities market were enabled to conduct repos involving securities the income on which is paid during the period between the execution of the first and second legs of the repos.
The Extraordinary General Meeting of shareholders in the MICEX Stock Exchange appointed Konstantin Korischenko CEO of the MICEX SE.
The MICEX Group signed a Memorandum of Cooperation with the Mongolian Stock Exchange, which provides for the exchange of experiences and information on the use of advanced technologies for the organization of operations in financial markets, cooperation in the area of listing and trading in government bonds and securities of companies of the two countries and cooperation towards the development of dual listing on both exchanges and regular exchange of information on the securities market and the work of the exchanges.
April
The MICEX launched trading in the euro-UD dollar currency pair, providing for the possibility of making trades with “today” and “tomorrow” settlements, as well as swaps. The MICEX Stock Exchange started trading in shares in NEKK Company in the IGC Sector. PFTS Stock Exchange (Ukraine) launched a new trading system, developed on the basis of the IT platform that ensures the operation of the MICEX Group’s on-exchange markets. The new system enables the processing of 1.5 million orders per day and simultaneous support of 10 thousand users. A new RMS was implemented in the derivatives market that enables portfolio margining based on SPAN® (Standard Portfolio Analysis of Risk) technology with a unique technology of controlling orders.
Trading in futures on individual stocks was launched (common shares in Gazprom and Sberbank). The specification of the MICEX Index futures was changed.
The MICEX President Konstantin Korischenko joined the Board of the Russian Union of Industrialists and Entrepreneurs.
May
The maximum historical volume of trading (in contracts) was recorded in the NAMEX market for deliverable wheat futures.
June
The MICEX Group and Russian Nanotechnology Corporation (RUSNANO) signed a cooperation agreement on the creation of a new exchange sector within the MICEX Group, the Market for Innovations and Investments.
The RF Audit Chamber and the MICEX signed an agreement on cooperation on matters related to the formation of appropriate conditions for the functioning of the on-exchange market for public debt, which should ensure high liquidity of government securities and minimize the costs of servicing the public debt.
July
The MICEX Group published its financial statements for the year 2008 under IFRS. As at December 31, 2008, the MICEX Group’s own capital was 17.678,6 mln rubles, 30% more than on the previous reporting date, December 31, 2007 (13.613,7 mln rubles). Net profit increased by 16.7% and amounted to 4.241,1 million rubles against 3.635,8 mln rubles in 2007.
The MICEX Group and the Government of the Republic of Mordovia signed an agreement on cooperation in the development of the Market for Innovations and Investments on the MICEX. The agreement is also aimed at attracting investments in innovation companies of the Republic of Mordovia.
The MICEX Group and the Administration of the Novosibirsk Region signed an agreement on cooperation aimed at attracting investments in innovation companies and fund of the Novosibirsk Region.
A single scale of tariffs on operations involving foreign currencies in the UTS was adopted.
August
Two different bond issues were restructured for the first time in the trading system of the MICEX Stock Exchange, using multilateral clearing. In the course of the restructuring, to enable settlements between holders, the MICEX Stock Exchange used technologies enabling, through the mechanism of multilateral clearing, to net reciprocal obligations under purchase and sale transactions concluded on the Exchange by holders of traded bonds of NIKOSHIM INVEST, Series 02, with URALSIB Capital, – the issuer’s restructuring agent.
The NDC obtained state registration. Non-profit partnership The National Depository Center was reorganized and transformed into Closed Joint-Stock Company The National Depository Centre.
The Bank of Russia began to conclude repos in the stock market in the “Repo Auction” and “Fixed Rate” modes.
The maximum volume of trading (in contracts) was recorded in the NAMEX’s market for deliverable wheat futures.
September
A record-high volume of trading in the MICEX Index futures was reached in the MICEX derivatives market.
The MICEX and the Government of the Krasnoyarsk Region signed a general agreement on cooperation in the development of the financial and commodity markets in the Region.
October
The MICEX received the status of full member of the World Federation of Exchanges.
The MICEX derivatives market launched trading in new deliverable futures on common shares in Lukoil and Norilsk Nickel. The MICEX Cup for trading in the derivatives market was started.
The MICEX Group and the Istanbul Stock Exchange signed a memorandum of understanding.
The procedure for confirmation of the status of agricultural producers, followed by the accreditation of participants in on-exchange trading in the course of public purchase interventions in the grain market in 2009 was started.
A delegation of the Shanghai Stock Exchange (SSE) visited the MICEX. The two parties discussed cooperation issues, including cooperation in the dissemination of the MICEX indices in China. During the visit, the parties signed a Memorandum of cooperation in the creation of joint indices based on instruments traded on the MICEX and the launch of joint index funds (ETFs, Exchange Traded Funds) on the Shanghai Stock Exchange.
November
In order to expand the circle of participants in trading in the Unified Trading Session (UTS) of interbank currency exchanges, the MICEX implemented in its foreign exchange market a project to provide access to trading in the UTS to credit institutions – residents of the countries of the Eurasian Economic Community (EurAsEC) that have joined the Agreement on Cooperation in organizing an integrated foreign exchange market of EurAsEC member states of January 25, 2006.
The MICEX Group summed up the results of its work in the first 10 months of 2009. In the first 10 months of 2009, the total volume of trades in all of the MICEX Group’s markets amounted to almost 150 trillion rubles (148.8 trillion rubles or about 4.6 trillion dollars), up 27.6% on the same period of 2008.
The National Clearing Centre was accepted as a member of the European Association of clearing houses – central counterparties.
The MICEX Settlement House opened a correspondent account in KZT with the National Bank of Kazakhstan.
The NDC reaffirmed its leadership position among Russia’s depositories.
The public book of orders of the Institute of Human Stem Cells (a biotech company) was opened in the framework of the IPO made in the MICEX market for innovations and investments.
December
Members of the PFTS Association approved the decision to increase the authorized capital of the PFTS Stock Exchange and sell an additional issue of shares to the PFTS’ strategic investor, the MICEX.
The MICEX, the NAUFOR, the NSMA and the RTS signed an agreement on cooperation.
The MICEX Stock Exchange began to publish sectoral indices of the consumer sector and the chemical industry.
The ceremony of launching trading was held in the MICEX Market for Innovations and Investments, timed to coincide with the public offering of shares in the Institute of Human Stem Cells.
The Board of the MICEX Stock Exchange established the Committee on settlements and processing of operations of the MICEX Stock Exchange.
The composition of the Committee was approved on the advice of the Directorate of the MICEX SE.
The MICEX Group commemorated the 10th anniversary of on-exchange Internet trading in Russia. 95% of trades in the MICEX Group’s markets are made on orders entered through the MICEX Internet gateways.
The MICEX held the first auction to place pension savings in deposits with credit institutions. Vnesheconombank acted as the organizer of the auction, acting as a state management company for pension savings.