Main events in 1997
January
The MICEX Settlement House began effecting settlements for exchange transactions concluded on the MICEX and became the settlement center of the organized securities market.
The MICEX and the RF CB established not-for-profit partnership "The National Depository Center" (NDC).
Trading in the Swiss franc started on the MICEX.
February
The MICEX started trading in the Italian lira and the Japanese yen.
Non-residents were enabled to work in the secondary market of GKO-OFZ, organized on MICEX.
The Commission for Commodity Exchanges granted the MICEX License #88 to organize exchange trading in standard contracts (derivatives) in Russia.
March
The MICEX started trading in OFZ-PD, issued by the RF Finance Ministry for the Bank of Russia.
The MICEX's first remote terminal abroad was installed at Eurobank (Paris).
Trading in the stocks of Mosenergo, Rostelecom and Norilsk Nickel started in the MICEX Stock Market Section.
April
The Federal Securities Commission granted the MICEX License #1 to organize trading in securities (until 1.10.97).
May
Trading in the stock of RAO UES (listed) and stocks of five Russian companies (unlisted) started in the MICEX Stock Market Section.
The MICEX launched its reserve computing center.
June
Trading in the US dollar started in the System of Electronic Lot Trading, which enables to carry out transactions through remote terminals during one day.
The MICEX started auctions and trading in bonds, which were issued by Russian regions to repay credits against goods (tied credits), given to state-owned farms.
Trading in futures on OFZ-PK started in the MICEX Derivatives Market Section.
July
Secondary trading in the bonds of the Republic of Tatarstan Moscow Region started on the MICEX.
The RF CB sanctioned out-of-the-system transactions in the GKO-OFZ market between clients of one dealer.
August
The MICEX and regional administrations began to conclude agreements of cooperation in developing regional stock markets. The first agreement was signed with the administration of Novosibirsk Region (then, the administrations of Rostov-on-Don and Orlovskaya Regions).
September
The MICEX and regional exchanges-members of the Association of Russian Currency Exchanges signed agreements of cooperation in providing access to trading in corporate and subfederal (regional) securities in the MICEX Stock Market Section for regional participants.
The MICEX and regional exchanges launched a project to create a national system of trading in corporate and subfederal (regional) securities (EFIR program).
The MICEX started to calculate the MICEX Summary Stock Index, based on transactions in stocks listed in the MICEX Stock Market Section.
The Federal Securities Commission granted the MICEX License #000-0001-000001 of 24.09.97 to organize trading in the securities market until 24 September 2007.
October
Trading in futures on the MICEX Summary Stock Index and corporate stocks (LUKoil and RAO UES) started in the MICEX Derivatives Market Section.
November
The MICEX organized the market of bonds, issued to repay budget loans, given in 1993-1995 to fuel and energy enterprises ("energy bonds").
The MICEX and the NYSE signed an agreement of cooperation in the area of education.
December
The MICEX Settlement House started ruble-denominated settlements for transactions in foreign currency. The NDC obtained the FSC's License to conduct depository activities.
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MICEX Portrait
