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The MICEX Stock Exchange obtains the unlimited stock exchange license from the RF FCFM
August 24, 2007
On 23 August 2007 the RF Federal Comission for Financial markets decided to grant the MICEX Stock Exchange the unlimited stock exchange license. In compliance with the RF laws, an organization needs the stock exchange license to be able to organize trading on the securities market in the capacity of a stock exchange. The previous license which entitled the MICEX SE to organize trading on the securities market in the capacity of a stock exchange was granted to the MICEX SE on 15 September 2004 for the period of 3 years.
Brief information: The MICEX Stock Exchange is Russia▓s leading stock market. It organizes daily trading in securities of over 620 issuers with the total market capitalization of about 900 billion dollars. The MICEX SE was established in 2003 with the authorized capital of 100 million rubles. Shareholders in the MICEX Stock Exchange are 23 organizations, including the MICEX, leading commercial banks and broker companies and the Association of Russian Banks. Chairman of the Board of the MICEX Stock Exchange is Alexander Potemkin, CEO of the MICEX Stock Exchange is Alexei Rybnikov.
Trading is held electronically, using an up-to-date trading and depository system, connected to regional floors and over 1500 remote terminals of 600 broker companies and banks in 100 Russian cities, which serve about 500 thousand investors. The MICEX SE is among the world▓s top 20 stock exchanges. It accounts for over 95% of the total exchange-based turnover for the Russian market and about 70% of the global turnover of Russian stock assets. This makes the MICEX SE the main center of liquidity for Russian securities and the main floor for international investments in stocks and bonds of Russian companies. The MICEX Index is the main indicator of the Russian stock market.
Find more information on the MICEX Stock Exchange on the MICEX SE web site: < a href = http://www.micex.ru/fbmmvb> http://www.micex.ru/fbmmvb
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