History
January
MICEX’s stock market section offered bonds of Kremniy CJSC, Invest-Incor CJSC, Promsvyazbank CB, and others.
MICEX addressed its professional stock market participants in a letter on the necessity to develop the government-backed securities market, which would allow asset accumulation market instruments to be used to finance long-term investment programs for developing the infrastructure of the national economy.
At the meeting of the National Economic Council (NEC) in Yekaterinburg, the pilot project for creating an exchange wholesale market of electric power in Russia, which was developed by specialists of RAO UES of Russia and MICEX, was presented.
February
The Association of Distributors of Financial-Economic Information (ADFEI) approved the Code of Behavior in the Financial-Economic Information Market, which featured active protection of intellectual property rights for information, including exchange quotes.
In Moscow, executives from MICEX and the Kazakhstan Stock Exchange (KSEX) signed a memorandum of cooperation and interaction on developing the exchange infrastructure in order to create an integrated exchange area.
As part of a joint program, specialists from the TACIS-INVAS project and MICEX issued the “Issuers’ Guide on Security Issue and Listing Procedures in Russia”.
March
The Nikitskiy Club and the Union of Russian Lawyers held a round table on the topic: “Constitutional Economy and the Status of the Central Bank”, during which participants supported the independence of the Bank of Russia and stability in regulating the currency market.
Sberbank of Russia and MICEX implemented a pilot project for creating a new Internet settlement system for brokers as part of Sberbank.
The National Currency Association (NCA) sent a letter to the Russian President with suggestions on preparing the “Conceptual Foundations of the Russian Currency Strategy in the Middle-Term and Long-Term Perspective”.
MICEX’s stock market section offered bonds of Tatneft JSC, BFA CJSC, Russian Product OJSC, Incor-Finance CJSC, Aeroflot — Russian Airlines OJSC, etc.
MICEX the currency market section began trading in the new “currency swap” instrument.
MICEX’s stock market section introduced a new stock index, the MICEX 10, which was calculated in real time with the ten most liquid shares of Russian leading issuers.
As part of the Internet trading development program in the Russian financial market, MICEX, in cooperation with its partners — CMA Small Systems AB, Hewlett Packard, and the Interfax agency — implemented a pilot of the SSTO (support system of trading operations) information-analysis system.
April
MICEX’s stock market section offered bonds of RTK-Leasing CJSC, Taganrog Metallurgy Plant OJSC, Slavneft JSC, United Machinery Plants OJSC, etc.
MICEX and the М.V. Lomonosov Moscow State University signed a memorandum of cooperation and mutual understanding supporting the University’s science education and cooperation in expanding fundamental and applied research on financial markets and implementing modern information technologies in training financial specialists.
The National Stock Association (NSA) sent an open letter to the FCS of Russia on immediate measures for developing of the Russian securities market and liberalizing the stock market of Gazprom OJSC.
At the meeting of the Inter-state Currency Committee of CIS in Moscow, proposals for creating a model of the integrated currency market of CIS countries, which were prepared by specialists of the International Association of Exchanges (IAE) of the CIS and MICEX, were approved.
The authorized representative of the Russian President in the Privolzhie Federal District (PFD), Sergey Kirienko, and heads of MICEX and NCSEX signed a memorandum of cooperation regarding financial and stock markets in the Privolzhie Federal District.
The regular meeting of MICEX shareholders approved the summary of the exchange’s activities in 2000, planned basic strategies for its development, and the new panel of the Exchange Council was elected, with the chairman of the Bank of Russia, Oleg Mozhaiskov, being re-elected as chairman.
MICEX held a joint meeting of the Union of Russian Lawyers and the Nikitskiy Club, unifying the intellectual elite of scientists and entrepreneurs, on the topic “Court Reform in Russia: Limits and Potentials” with the participation of Dmitriy Kozak, the Deputy Head of the Russian President’s Administration.
May
MICEX signed an agreement with SICEX (Novosibirsk) and NCSEX (Nizhniy Novgorod) aiming to organize direct access to trading in the MICEX commodities market section for regional participants.
The 4th International Kondratiev conference “Dialogue and Interaction between East and West: Alternatives in the 21st Century” was held in Moscow with the participation of the N.D. Kondratiev International Fund, the Pitirim Sorokin International Institute, Nikolay Kondratiev, the President’s Academy of State Service, the V.I. Vernadskiy Russian Academy of Natural Sciences, the International Institute for Problems of Socio-Cultural and Political Development, the UN Informational Centre in Moscow, and the Moscow Bureau of UNESCO. At the conference, N.D. Kondratiev Medals were given to winners of the international contest for contributions to the development of social sciences, held with the financial assistance of MICEX and other organizations.
MICEX held an open meeting of the Board of Directors of the Corporate Enterprising Center(CCE), during which problems of developing entrepreneurship in Russia and training personnel for the new economy were discussed.
The Council of the National Currency Association (NCA) approved the Domestic Currency and Money Market Standards, which determined important principles and regulations for currency and money market participants in Russia. The NCA meeting also approved the analytical report “Conceptual Foundations of the Russian Currency Policy”, which provided a systematic estimation of the Russian currency market and analyzed the goals and strategies of the Russian currency policy from the point of view of market reform implementation.
June
MICEX held an initial offering of bonds of Prombusinessbank JSCB, ОGО Grain Company LLC, and Incor-Finance CJSC.
According to the proposal of the Department of State and Municipal Property of Moscow, shares of 110 Moscow enterprises were added to the MICEX trading system with indicative quotations.
MICEX’s stock market section accepted the criteria for determining low liquidity shares and transferring them to the negotiated trading mode (MNB) and established the price fluctuation limits for all categories of securities.
July
MICEX and the Lebedev Studio implemented a joint project for creating a specialized website “MICEX Real-Time Enterprises” for providing information on Russian regions and leading issuers.
The Baku Interbank Currency Exchange (BICEX) and MICEX signed an agreement of strategic cooperation on developing the financial markets of Russia and Azerbaijan.
MICEX’s stock market section made an initial offering of bonds of Nizhnetagilskiy Metallurgy Plant OJSC and Bashcreditbank RICB OJSC.
MICEX’s commodities market (standard contracts) section began offering regular trading in futures of the official EUR to RUR rate.
TACIS’s “Consulting Services for Investments and Capital Markets” (INVAS) project, implemented by the EU from 1998–2001 with the participation of MICEX, was completed.
In Moscow, the Inter-State Bank, the International Association of Exchanges (IAE) of CIS Countries, MICEX, and the MICEX Clearing House signed an agreement of cooperation on forming a common currency area for CIS member-states.
The first “TimeOnline” internet cafe, organized as part of the “Manezh Exchange Area” project with the participation of Items+ CJSC, Alor-Invest CJSC, and MICEX, was opened in Moscow.
MICEX and the Reuters company provided participants in exchange trading of foreign currency with the possibility to use the “Reuters Dealing Tradelink for MICEX”software and hardware gateway, which allowed automated access to the MICEX SELT from the Reuters Dealing System.
The “From Real-Time Exchanges to Real Sector Enterprises” round table was held in Nizhny Novgorod. The main topic was procedures for introducing regional issuers to the stock market through new financial instruments and information technology.
August
The National Currency Association (NCA) began calculating the indicative rate for granting ruble credits (deposits) in the Moscow interbank market — MosIBOR (Moscow Interbank Offered Rate).
MICEX’s commodities market (standard contracts) section began performing trades using the internet gateway, which made it possible for market participants to make automated trades through broker companies and banks.
September
MICEX resumed holding auctions for the floatation of bonds of the Bank of Russia.
The international forum “The Growth of Banks and the Currency Exchanges’ Role in the Economic Integration of CIS Countries”, organized on the initiative of the Executive Committee of the CIS, Vneshtorgbank, Inter-State Bank, and MICEX, took place in Moscow.
At the annual Harvest Fair in Tambov, MICEX specialists introduced the website created within the joint program with the regional administration for creating a common informational area in the agricultural products market in the Tambov region.
In the city of Lvov, the general meeting of the International Association of Exchanges of CIS Countries (IAE of CIS) took place, during which the program for 2001 — 2002, which was focused on creating an integrated capital market for the Community, was approved.
October
At the meeting of the IAE of CIS in Lvov, the plan of action for 2001–2002, which was focused on creating an integrated capital market for the Community, was adopted.
The National Depositary Center (NDC), in cooperation with the MICEX Clearing House, started serving credit trades with the securities as collateral.
MICEX held the “Investment Climate in Russia in View of the Banking Reform and the Legal System” international conference.
The first “Stock Market — 2001” fair was held in Moscow, where MICEX demonstrated up-to-date exchange technologies for organizing securities trading.
November
The MICEX Clearing House obtained authorization from the Bank of Russia for performing settlement services in foreign currency-stock exchanges.
MICEX’s stock market section offered bonds of Lianozovskiy Diary Plant OJSC, Renaissance Capital Finance LLC, Russian Standard Bank, and CentreTelecom OJSC.
As part of the process of integrating the markets of Russia and the Republic of Belarus in the SELT, MICEX resumed trading Belarusian rubles for Russian rubles.
MICEX and the Tashkent Republic Stock Exchange signed a memorandum of cooperation on developing the integrated exchange area for financial markets of CIS countries.
MICEX provided banks with Internet access to currency trading through the MICEX “i-Trading Client” program.
In Moscow, MICEX and the Ukrainian Interbank Currency Exchange (UICEX) signed a memorandum of cooperation in the sphere of exchange technology development and creating integrated financial markets.
The Interregional Association of Executives of Enterprises (IAEE), MICEX, and SICEX signed an agreement of cooperation in the sphere of securities market development in Siberia.
As part of the contest of the N.P. Fedorenko International Scientific Fund for Economic Research and MICEX, grants to research the problems of the Russian stock market were appropriated.
MICEX started offering bonds of the Republic of Bashkortostan.
December
The management of the Southern Federal District signed a memorandum of cooperation with MICEX and RSCEX in the sphere of developing stock and currency market infrastructures.
The International Currency Committee of the CIS approved the memorandum of cooperation in the sphere of currency relations as a whole, as well as the draft agreement on creating an integrated currency market proposed by the IAE of CIS.
The new textbook “Management of the Modern Company,” prepared in cooperation with leading Russian and American specialists, was presented at MICEX.
Participants in the Russian-French seminar on the financial problems of the Russian economy held at MICEX suggested creating a Payment Union for the CIS.
The winners in the leading stock market issuers category of the “Best Russian Enterprises” contest, held with the assistance of MICEX, were YUKOS OJSC, RAO UES of Russia and Magnitogorsk Metallurgy Plant OJSC.
MICEX’s stock market section started trading bonds issued in the Republic of Komi and the Leningrad region.
MICEX started performing government-backed securities sale operations from the Bank of Russia’s portfolio with return redemption obligation (exchange modified REPO).
MICEX’s stock market section offered bonds of Moscow Bakery Plant OJSC, Credit Swiss First Boston Capital LLC, and Russian Innovative Fuel-Energy Company OJSC.