MICEX and RTS Merger Creates Russian Exchange Powerhouse

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 calculation platform.

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: pr@micex.com

Quinn Martin, Frontier, Tel. +7(495)797-3790, e-mail: quinn@frontierpr.com

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