MOSCOW, Dec. 19, 2011 /CNW/ - The opening bell at the start of trading
today marked the completion of the merger of MICEX and RTS, creating a
single Russian exchange that is well-positioned to become a leading
venue globally for trading across asset classes.
The merger creates a one-stop-shop for local and international market
participants to trade equities, bonds, derivatives and currencies.
The combination of Russia's two exchanges benefits market participants
by creating a single platform for issuers, traders and investors; it
will reduce transaction costs, make trading easier and more accessible
and facilitate product innovation. On the shareholder level, the merger
will drive profitability, diversify the revenue pool and allow for the
creation of a publicly-listed company.
The merger also clears the way for further reforms that are necessary to
establish Moscow as an international financial center.
The capitalization of the combined company was valued at $4.5 billion
ahead of the merger. Subject to market conditions, the exchange is
targeting an IPO in 2013. As a further step toward an IPO, MICEX-RTS
today took on the legal form of open joint-stock company.
In 2012 MICEX-RTS's plans include the launch of trading on the stock
exchange in T+N and the selection of a technological platform that will
establish a single trading account for the spot and derivatives market.
Another key item on the agenda for next year is the merger of Russia's
two main depositories, the National Settlement Depository and the
Depository Clearing Company. Finally, in 2012 the exchange's indices
will be brought under one roof with consistent rules and a single
The exchange is currently undergoing a rebranding exercise and expects
to roll out its new brand identity in the first half of 2012.
Ruben Aganbegyan, President and Chief Executive Officer of MICEX-RTS,
said: "The completion of the merger between MICEX and RTS marks the
culmination of months of hard work by our joint teams. In addition to
creating a single home for the market, the merged exchange will act as
a catalyst for continued improvements in Russia's financial
infrastructure, including the creation of a central securities
depository and settlement in T+N. Today we celebrate the merger of the
two exchanges, and tomorrow we get back to work on building a
world-class financial infrastructure for Russia."
For further information:
Press Service of MICEX-RTS, +7(495)363-3232, e-mail: firstname.lastname@example.org
Quinn Martin, Frontier, Tel. +7(495)797-3790, e-mail: email@example.com