Apr.17, 2012 - Ruben Aganbegyan, president of Micex-RTS stock exchange, during an interview in New York. Source: Getty-Images/Fotobank
On April 17, the recently merged MICEX-RTS exchange hosted a conference in New York called “Russia Is Not About Bears” for funds and individual investors. The event aimed to increase pool of market participants and give an update on advancement in the exchange since the merger. In December 2011, Russia’s two largest stock exchanges, MICEX and RTS merged into one exchange, giving investors in Russia a one-stop-shop for trading equities, bonds, derivatives, and currencies. The exchanges had developed separately for almost two decades and their merger is one of the steps in Moscow’s ambitious plan to become an international financial center. The combined exchange has an estimated value of $4.5 billion and company has reported to be planning an IPO in 2013.
MICEX-RTS plans this year to attract multinational companies that have operations in Russia to issue debt on the Russian exchange in rubbles. “We see first stage is to attract companies that have business or investment base in Russia. We are not competing for the global listings, we are fighting for the ones that are in Russia, so they will not go abroad,” Aganbegyan said. He said that MICEX-RTS is talking to several big international companies right now and plans to have them on board by the end of the year, but the names were not disclosed. Last year MICEX-RTS has signed an agreement on cooperation with the Organization for Economic Co-operation and Development (OECD) to strengthen corporate governance in Russia. Aganbegyan said that through this partnership, the OECD has brought a lot of experience and best practices from other emerging markets.
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