History
January
MICEX’s currency market section optimized conditions for making trades in large lots with the USD/RUB_TOD instrument in the SELT.
The “Russian Painting 1992–2002” fair, organized by MICEX in connection with the 10th anniversary of the exchange, was held in Moscow.
In 10 years, MICEX became the largest exchange in Russia, the CIS countries and Eastern Europe, and during the decade its aggregate trading turnover exceeded 1 trillion USD.
February
MICEX held auctions to sell BFL of the Bank of Russia from its portfolio with the obligation of return redemption (exchange modified REPO).
MICEX’s stock market section offered bonds of Kalina OJSC and NOMOS-Bank.
MICEX’s commodities market (standard contracts) section made an initial offering of USD and EUR futures with longer periods of execution — 4, 5, and 6 months.
The general meeting of the International Association of CIS Exchanges (IAE of CIS) was held in Baku, where model laws on currency regulation and the securities market were considered.
MICEX and the National Currency Association (NCA) reviewed their grant competition on the problems of the currency market in Russia, the CIS, and other countries.
March
MICEX launched a new electronic dealing system (SPREADO), combining the advantages of exchange and off-exchange currency market technologies.
MICEX’s stock market section made an initial offering of bonds of Severnaya Neft OJSC, Zoloto Severnogo Urala CJSC, and Slavneft OGC OJSC.
At a conference in Kiev, the International Association of Exchanges of CIS Countries (IAE of CIS) and the Association of Futures Markets came to a principal cooperation agreement on developing the infrastructure of term and commodity markets.
MICEX’s stock market section organized the REPO market for corporate securities and introduced the “partial lots” mode.
The “European Union — Russia: the Euro and Currency Market Standards” conference was held in Bruges (Belgium), where issues of financial integration were discussed. The conference’s agenda included the general meeting of the National Currency Association (NCA), where results of the association’s activities in 2001 were summarized and priorities for its further development were planned.
April
MICEX’s stock market section made an initial offering of bonds of RBC Informational Systems and offered bonds of North-Western Telecom OJSC, Viluysk HPS — 3 OJSC, and Interprombank JSCB CJSC.
The presidents of the Shengzhen Stock Exchange and the Shanghai Stock Exchange visited MICEX to learn more about its electronic exchange trading system.
MICEX began trading futures on ordinary shares of RAO UES, Lucoil, Surgutneftegas, and the MICEX-10 stock index.
The MICEX shareholders’ meeting was held, summarizing the exchange’s activities in 2001 and specifying basic trends for its further development.
The CIS Executive Committee approved the plan of action proposed by the IAE of CIS and MICEX for forming an integrated currency and stock market of CIS member-states for 2002–2003.
May
MICEX’s stock market section offered bonds of Volzhskiy Pipe Plant OJSC, Nevinnomysskiy Azot OJSC, LOMO OJSC, Nizhnekamskneftehim OJSC, Severskiy Pipe Plant OJSC, and municipal bonds of the city of Ufa.
Winners of the grant competition conducted by NCA and MICEX on the problems of the currency market were recognized at the meeting of the NCA Council.
MICEX started trading bonds of Russian foreign bonded loans (Eurobonds).
The Bulgarian Stock Exchange in Sofia and MICEX signed a memorandum of cooperation in Moscow on developing the infrastructure of stock markets and attracting investments in companies of the two countries.
The MICEX Exchange Council approved the provision on the commodities market reserve fund, the specifications for new contracts, and considered basic trends of the MICEX commodities market’s development.
The Rostov Chamber of Commerce and Industry signed a memorandum of cooperation with MICEX and RCSEX on developing the infrastructure of the stock and commodity markets.
June
MICEX’s stock market section started trading bonds of the Republic of Bashkortostan and offered bonds of Alfafinance LLC and North-Eastern Alliance JSCB.
The General Director of MICEX, Alexander Zakharov, was awarded a Diploma of Honour from the Russian government “for great personal contribution to the development of the currency and stock markets of Russia”.
At the 4th meeting of the Russian Chamber of Commerce and Industry, the General Director of MICEX, Alexander Zakharov, was elected as a member of the Presidium Board of the Russian CCI and appointed as the Head of the CIS Economic Integration Committee of the Russian CCI.
At the 5th meeting of the Council of Heads of Central (National) Banks of Member-States of the Eurasian Economic Community (EurAsEC) international organization in Bishkek, the General Director of MICEX advocated integrating the securities markets of EurAsEC countries.
July
MICEX’s stock market section offered bonds of CentreTelecom OJSC.
MICEX presented its professional participants with a commodities market development program, including the launch of new instruments and a longer trading time.
The MICEX Exchange Council decided to reduce the commission fee rates for trades in state securities and corporate bonds.
The MICEX Exchange Council made the decision to implement the project of creating an organized market of precious metals using the exchange’s technological base.
August
MICEX summarized the results of its research contests on the topics: “Problems of Developing the Exchange Currency Market and the Role of Currency and Universal Exchanges in Creating Currency Stability” and “Problems of Developing Regional Securities Markets”.
MICEX’s stock market section offered bonds of Russian Standard Finance LLC and Uralsvyazinform OJSC.
September
The Primorie Chamber of Commerce and Industry signed a memorandum of cooperation with MICEX and ATICEX on developing the stock and commodity markets’ infrastructure.
MICEX and the Reuter informational agency presented a new indicator in the exchange market of shares — the RMX joint stock index.
In Switzerland, the Association of Futures Markets and the International Association of Exchanges of CIS Countries signed a memorandum of cooperation on developing the stock and commodity markets’ infrastructure.
MICEX’s term market (standard contracts) section transferred clearing to the MICEX Clearing House.
The Vienna Exchange and MICEX signed a memorandum of cooperation in the sphere of exchange information distribution.
MICEX started the “Best Private Investor” contest, which would recognize the strongest portfolio investor in Russia.
The Armenian Stock Exchange and MICEX signed a memorandum on developing exchange technologies and creating integrated financial markets.
MICEX’s stock market section offered bonds of Vyksunskiy Metallurgy Plant OJSC, the Moscow Bank for Reconstruction and Development JSCB, Russian Aluminium Finances LLC, Seventh Continent OJSC, Bashkirenergo OJSC, and the Republic of Bashkortostan and the Tver region.
October
The “EU’s Experience and Perspectives on Integrating the Currency-Financial Markets of CIS Countries” conference was held in Belgium with the assistance of MICEX.
The general meeting of the International Association of Exchanges of CIS Countries supported the idea of creating an international depositary centre for the CIS.
MICEX held the first trading of futures for ordinary shares of Gasprom OJSC.
MICEX and NAPSM signed an agreement of cooperation.
MICEX joined the World Federation of Exchanges as a corresponding member.
The Governor of the Sverdlovsk region, E. Rossel, signed a cooperation agreement with executives of MICEX, URCEX and YSEX on developing the securities market in the region.
MICEX’s stock market section offered bonds of Prodimex Trading House CJSC, Interregional Investment Bank JSCB CJSC, Tver Manufacturing Company OJSC, GT-HEC Energo OJSC, LOKO-Bank LLC, First Mortgage Company OJSC, RAO UES of Russia, Alfa-Eco M LLC, ALROSA JSC, Volga-Flot OJSC, Bashinformsvyaz OJSC, and the Rosuglesbyt Company OJSC.
November
The Bank of Russia resumed holding direct REPO trade auctions with lending organizations in MICEX’s SSB-BFL market.
The first trading in the state grain purchase of the 2002 harvest was organized simultaneously in 7 regions using MICEX’s interregional infrastructure.
MICEX’s stock market section offered bonds of RTK-Leasing OJSC, System Finance Investments OJSC, Irkutsk Aviation Production Enterprise OJSC, Severniy Gorod CJSC, Promsvyazbank CJSC, Gasprom OJSC, SMARTS CJSC, Inbankproduct JSCB, and bonds of the Irkutsk region and Nizhny Novgorod.
December
In view of the new order on the obligatory sale of export proceeds, the amended regulations on buying and selling foreign currency in the common trading session of interbank currency exchanges (ЕТС) went into effect, which included a significant reduction of the exchange commission fee and the abolition of 100% advance deposits of monetary assets.
The first auction of rare securities of the Russian Empire was held in Moscow and was organized by MICEX in cooperation with the RIFK investment company.
MICEX opened the Museum of Exchange History, providing information about the origin and development of Russian exchanges from the times of Great Novgorod until today.
The Russian Ministry of Finances announced Sberbank of Russia and MICEX as the winners of the open tender to determine the agent, depositary, and trade organizer for the state securities market.
The CDD of the FEC of the Russian Ministry of Energy FSUE signed an agreement with the Russian exchanges MICEX, NCEX, and CRUEX to create an exchange market for oil and oil products in Russia.
The results of the “Best Private Investor – 2002” contest, held by the VEO-Otkrytie company with the assistance of MICEX, were announced. The winner had a stock portfolio growth of 860% per annum and received the grand prize — a BMW 318i.
MICEX and the Kazakhstan Stock Exchange (KSEX) specified the procedure for creating an integrated exchange currency market of Russia and Kazakhstan.
The CIS Economic Council approved the project of creating an integrated currency market of CIS member-states that was presented by the IAE of CIS.
MICEX’s stock market section offered bonds of Rosinter Restaurants LLC, EurasHolding FC LLC, LMZ Svobodniy Sokol OJSC, Novomoskovsk Joint Stock Company OJSC, Azot, Izhmash OJSC, Impexbank OJSC, Caustik OJSC, Amtelshinprom LLC, and bonds of the Belgorod region, the Republic of Komi and the Khanty-Mansi Autonomous District.