History
January
The MICEX Stock Exchange started trading shares of Gazprom OJSC, which became possible after amendments to the law removing the limits on circulating shares of the largest issuer in Russia went into effect.
MICEX started publishing the non-coupon profitability curve for SSB-BFL in real time at the exchange.
The Russian Ministry of Finances held a working meeting with market participants at MICEX, during which the 2006 State Domestic Loans Program was discussed.
The regular consensus-forecast of the MICEX Index was calculated on-site at MICEX.
The National Depositary Center (NDC) was accepted to the Association of European Central Depositaries (ECSDA).
February
The Uzbek Republic Commodities and Raw Materials Exchange, the National Commodities Exchange (NCE), the NDC, and the Central Securities Depositary of the Republic of Uzbekistan signed memoranda of cooperation and interaction in Samarkand regarding exchange infrastructure development.
The MICEX SE launched a project for creating a specialized exchange sector of innovative and growing companies (IGC), which will attract investments in the innovative and rapidly expanding sector of the economy for small and medium-sized companies. The project will also involve making prerequisites for mass IPO of these companies and improving venture financing in the country.
MICEX implemented a new system for providing informational support to investors using the MICEX Toolbar program.
In Moscow, the London Stock Exchange and the MICEX SE signed an agreement on common marketing in order to promote IPOs of Russian companies in domestic and foreign markets.
The Managing Director of the Troika Dialog Investment Company, Evgeniy Gavrilenkov, was elected as the Chairman of the MICEX Stock Exchange’s Index Committee.
March
In view of the increase in turnover, MICEX recommended that stock market traders update their remote access to the trading exchange system.
The MICEX Index included ordinary shares of Gazprom OJSC, Mobile TeleSystems OJSC, Uralsvyazinform OJSC, RBC Informational Systems OJSC, and privileged shares of Transneft OJSC.
The new amended text of the method for calculating the MICEX Index was introduced. The MICEX Index’s calculation was based on ordinary shares of Gazprom OJSC, Mobile TeleSystems OJSC, Uralsvyazinform OJSC, RBC Informational Systems OJSC, and privileged shares of Transneft OJSC.
The SMS-Daily service, offering personalized information about trading on MICEX to market participants, became available to subscribers of MTS, Beeline, and MegaPhone.
The MICEX Stock Exchange started trading bonds of Russian Railways OJSC in the amount of 10 billion RUR.
The NDC Board of Directors approved amendments to the provisions regulating the activities of the Depositary Service Committee, Budget Committee, Technical Committee, and Risk Management Committee.
The general meeting of members of the National Depositary Center Non-Commercial Partnership reviewed the results of the previous year, in which the NDC consolidated its market positions regarding capital, infrastructural service development, and corporate management (net profit grew to 199 million RUR, owned capital reached 625 million RUR).
The presentation of the album “Two Centuries of Russian Childhood,” a joint cultural project of the State Historical Museum, the Tretyakovskiy State Gallery and the State SRI for Restoration, realized with the assistance of MICEX, was held in Moscow.
April
The NDC introduced “long-term custody sections” for shares intended for long-term custody.
The Second Annual Student Trading Contest, organized by the Russian Government’s Financial Academy and the Eurofinances Investment Company with assistance of the MICEX SE, took place in Moscow.
The NDC reduced its fees for securities transactions.
New amended texts of documents regulating option trading in the MICEX Commodities Market (Standard Contracts) Section went into effect.
The MICEX SE offered shares of Magnit OJSC, bonds of Russian Communal Systems OJSC, and state loan bonds of the Republic of Sakha (Yakutia).
The Bank of Russia approved the state registration of the National Clearing Center (NCC) JSCB which was founded by MICEX and the NDC to conduct centralized clearing for exchange markets.
The meeting of the Council of the International Association of Exchanges of CIS Countries (IAE of CIS) was held in St. Petersburg, during which participants discussed the development tendencies of national stock markets and considered the integration of CIS stock markets and the problems of mutual allowance for issuers and professional trading participants.
The MICEX SE offered bonds of 2006 Moscow regional internal bonded loans and state bonds of the Yaroslavl region.
The general meeting to hear reports and elect new officials of the National Currency Association (NCA) was held in Moscow, which reviewed the association’s activities and set forth priorities for its development.
The MICEX Stock Exchange offered bonds of the European Bank for Reconstruction and Development (EBRD) with an interest rate amount specified by the MosPrime rate.
The MICEX SE CJSC shareholders summarized the year’s activities at the general meeting and decided to pay dividends in the amount of approximately 9.7 million RUR.
The MICEX CH CJSC shareholders reviewed the results of 2005’s activities at the general meeting and decided to direct the profit towards further development.
The MICEX CH CJSC lengthened its working day to 12 hours and introduced a new work schedule allowing clients to receive the final account abstract for the current day at 23:00.
The NDC and IRCOL switched over to electronic document circulation.
The NDC Board of Directors approved the membership of the Depositary Service Committee, Budget Committee, and Risk Management Committee.
The MICEX Index surpassed 1,500 points.
May
The MICEX SE made a public offering of shares of OGK-5 OJSC and began trading bonds of Khabarovsk Krai, the Tomsk region, and the city of Ufa, as well as shares of North-Western Telecom OJSC.
The NDC general meeting elected a new Board of Directors and Auditing Committee.
The NDC and NRC signed an agreement on the pilot operation of the NDC’s electronic document circulation system.
The MICEX SE started trading stock of the leading Russian gold mining company Polus Zoloto OJSC.
The Bank of Russia expanded the list of deposit and credit operations made using the MICEX Electronic Trading System.
The regular general meeting of members of the Association of National Numbering Agencies (ANNA) was held in Moscow, hosted by the NDC.
Shareholders of the National Commodity Exchange CJSC reviewed the results of the NCE’s activities at the general meeting and decided to direct the profit to the exchange’s reserve fund and to its development.
MICEX CJSC shareholders reviewed the results of 2005’s activities and decided to increase the authorized capital of the exchange to 1,154 million RUR and pay dividends.
The MICEX SE started trading bonds of Gazprom OJSC, Moscow regional loans, municipal bonds of Volgograd, and the Republic of Mari-El.
The MICEX SE Board of Directors approved the amended listing regulations and the allowance for offering and circulating securities on the MICEX SE, which provided for the foundation of the Innovative and Expanding Companies (IEC) Sector and the introduction of a new listing level – Quote List “В”.
The MICEX Commodities Market (Standard Contracts) Section started trading futures contracts on the accumulated one-day MosIBOR interest rate and the 3-month MosPrime Rate interest rate formed by the National Currency Association (NCA).
The National Clearing Center JSCB was entered in the United State Register of legal entities by the Federal Taxation Service Department in Moscow.
June
The RCBI (Russian Corporate Bond Index) Index, calculated by MICEX for the corporate bonds market, was increased to 50 issues of securities.
The MICEX SE offered bonds of the Republic of Karelia and began trading bonds of the Chuvash Republic.
The general meeting of the International Association of Exchanges of CIS Countries (IAE of CIS) was held in Yerevan, where participants confirmed the annual activity statement, elected the new membership of the IAE of CIS Council, and discussed the development of national financial markets in CIS countries.
The MICEX SE made a public offering of shares of Rosneft OC OJSC, which were included on Quote List “В”.
The Thomas Murray Company gave the NDC an А+ central depositary rating.
The MICEX Group published its 2005 report according to the International Standards of Financial Reporting (MSFR).
The NDC and the STATUS Registrar Company signed an agreement on the pilot operation of the NDC’s EDC system.
NDC representatives joined the DCC Board of Directors.
The amended listing regulations and allowance for offering and circulating securities on the MICEX SE, which provided for the foundation of the Innovative and Expanding Companies (IEC) Sector and the introduction of a new listing level – Quote List “В,” went into effect.
The NDC began acting as the national numbering agency in Russia, including assigning ISIN and CFI codes.
The NDC took shares of Kazakh issuers into service.
The MICEX Stock Exchange approved the membership of the Budget Committee, Stock Market Committee, and Technical Policy Committee.
The National Clearing Center JSCB received the Bank of Russia’s State Registration Certificate for a lending organization.
A ceremony honoring humanitarian contributions to the G.I. Turner Children’s Scientific-Research Orthopedic Institute, to which MICEX donated funds to buy new equipment for the hospital’s resuscitation department, took place in St. Petersburg.
July
The NDC Board of Directors approved proposals for unifying the procedure for placing securities through the NDC, appointed an auditor, and decreased stock custody fees by 20%.
The NDC started to take corporate bonds into service.
The MICEX SE developed a set of measures for preventing dramatic fluctuations of stock prices in the initial trading period.
MICEX extended the trading period for EUR with settlements “tomorrow”.
The MICEX SE started trading shares of one of the largest Russian oil companies, Rosneft OC OJSC, which made the initial public offering of its securities (IPO) on the stock market.
The MICEX SE offered bonds of Vneshtorgbank OJSC in the amount of 15 billion RUR and began trading shares of OGK-2 OJSC and bonds of the Lipetsk region.
August
MICEX reduced its fee for swap trades during EUR trading in CTS.
The NCE won the tender for choosing exchanges to conduct state purchase and commodity interventions in the agricultural and food products market in 2006–2007.
MICEX held a round table on the topic: “Mass Russian Investment: What the People’s IPO of Rosheft Showed”.
MICEX implemented a new gateway technology to ensure the exchange of information with broker systems on the stock market.
The Bank of Russia granted Banking License No. 3466 for executing banking operations in rubles and foreign currency to the National Clearing Center JSCB, which made it possible for the NCC to launch the practical stage of its preparation for performing clearing activities in the exchange market.
According to the 30 Largest Russian Depositaries ranking for 2005, the NDC was the largest Russian clearing depositary (the NDC’s asset value share was 57%).
The MICEX SE began trading 2006 municipal bonds of the city of Kazan.
September
The NDC Council established new fees and approved the quick settlement procedure and the policy for improving corporate management.
The MICEX SE offered bonds of Moscow Regional Mortgage Agency OJSC in the sum of 3 billion RUR.
The MICEX SE and ZERICH Capital Management IC, with the assistance of NAPSM, organized the “Investments for Russia” exchange trading tournament and stock market publication contest.
The MICEX SE began trading state bonds of the Irkutsk, Kaluga and Tambov regions, the Komi Republic and Chuvash Republic, and municipal bonds of Magadan.
Leaders of the Committee of European Securities Regulators (CESR) visited MICEX to learn more about the organization of trading in the largest Russian exchange.
The URALSIB Management Company and the MICEX SE announced the start of the “Best Share Broker” contest.
The MICEX SE reduced its fees on non-governmental bond trades by almost half.
MICEX organized an options seminar for professional participants featuring the world-renowned commodities market expert Sheldon Natenberg.
The general meeting of members of the partnership elected Konstantin Korischenko as the Chairman of the NDC Board of Directors.
The administration of Krasnodar Krai and the MICEX SE signed an agreement of cooperation in the sphere of financial and stock market development.
The MICEX CH CJSC was appointed as the authorized clearing NLO for Bank of Russia loans with collateral in securities granted to lending organizations.
October
The MICEX SE introduced the “REPO with shares” modified trading mode.
The NDC responsibility limit for each insured event was increased from 10 million to 25 million USD.
The MICEX SE offered bonds of the Mortgage Lending Agency OJSC, OGK-5 OJSC, and launched trading in shares of TGK-2 OJSC and municipal bonds of the Nizhny Novgorod region and the cities of Bryansk, Lipetsk and Pensa.
The Bank of Russia began performing “until called for” deposit operations and lending operations using the MICEX Electronic Trading System.
The number of Russian private investors in the MICEX SE exceeded 200,000 persons.
The plan for creating the Central Depositary on the basis of the NDC was read at the 8th Russian Conference of Professional Securities Market Participants.
MICEX hosted a talk for the Association of Independent Directors’ Directors Club on the topic: “Perspectives on the Economy and Business Development in Russia”.
The NDC became a member of the International Securities Services Association (ISSA) in the area of securities services.
MICEX held a round table on private investments where the “Social Resources for Mass Investment in Russia” report, which was prepared using the results of the first Russian survey (geo-rating) of mass investment frames, was given.
Shares of Rosneft OC OJSC and Polus Zoloto OJSC were included in the MICEX Index.
The MICEX CH CJSC’s capital exceeded 500 million RUR.
November
The MICEX SE began calculating additional analytical parameters for MICEX stock indices.
The MICEX SE offered shares of System-Gals OJSC and Raspadskaya OJSC, bonds of Gasprom OJSC (for 10 billion RUR), state bonds of the Bashkortostan Republic, the Sakha Republic (Yakutia) and the Irkutsk and Tver regions, and started trading shares of OGK-1 OJSC and bonds of OGK-5 OJSC.
MICEX presented the results of the “2006 Information Transparency Survey of Russian Companies” carried out by the Standard & Poor’s international rating company with the assistance of the MICEX Stock Exchange and the European Bank for Reconstruction and Development.
Exchange specialists began working at the MICEX SE, using exchange procedures to maintain and grow the liquidity of securities as well as of shares of UIFs and second- and third-tier shares.
The MICEX SE approved the listing agent accreditation regulations, which would help issuers join the exchange in the innovative and expanding companies sector.
In order to improve settlement services for regional exchange market participants, the Supervisory Board of the MICEX CH CJSC made the decision to open branches in Vladivostok and Rostov-on-Don.
The NDC Board of Directors decided to establish new fees for custodial and stocktaking services for state and corporate bonds.
The NDC took mortgage cover bonds into service.
The MICEX SE began calculating additional analytical parameters for MICEX stock indices.
December
MICEX was recognized as one of the best financial institutions among correspondents of JP Morgan Chase Bank in terms of the quality of payments made in USD.
The MICEX SE began trading mortgage cover bonds of GPB-Hyphothec ISO OJSC, which was the origin of the mortgage securities exchange market in Russia.
The general meeting of members of the NDC NNC took place, which took into consideration the work done to develop the NDC’s electronic document circulation with registrars and the Modernization of the NDC’s Technological Platform project.
The MICEX SE offered bonds of OGK-3 OJSC and began trading bonds of the Moscow and Kurgan regions and municipal bonds of Volgograd and Astrakhan.
MICEX reduced the fee for trades with USD at CTS by 25%.
The Russian REPO Council, created by the NFA SRO with the assistance of the Bank of Russia and MICEX as part of the REPO operation development project, was presented in Moscow.
MICEX offered state saving bonds (SSB) at auction for the first time.
The MICEX CH CJSC completed the first stage of implementing its new CFT – Bank automated banking system.
MICEX and the German Exchange AG (Deutsche Borse) signed a memorandum of mutual understanding aiming to cooperate in developing the infrastructure of the Russian and German financial markets using advanced exchange technologies and in attracting additional investments in national companies.
The MICEX SE accredited its first listing agents — organizations acting as guides for admitting innovative and growing companies to the exchange.