Jsc mwb. Moscow Exchange (mmvb-rts) - access, listing and other details
The Moscow Interbank Currency Exchange (MICEX) is the main Russian stock exchange. It is the largest not only in Russia, but also in the CIS countries and in Eastern Europe.
The exchange was opened in January 1992 as the successor to the State Bank's Currency Exchange. However, its history dates back to 1989, when the first foreign exchange auctions were held by the USSR Vnesheconombank.
Since its inception, the main task of the exchange has been to organize trades in foreign currency. It is here that exchange rates are formed, including the rate of the euro and the dollar against the Russian ruble, which are of most interest to both investors and ordinary citizens. After all, these courses demonstrate the state of the country's economy.
Despite the fact that the name indicates "currency exchange", over the years, the exchange has significantly expanded. Now MICEX is a universal exchange that unites several exchange structures at once and working in different directions.
The MICEX is constantly developing and implementing the most advanced technologies in its work.
For over 12 years, the exchange has been using an electronic trading system and provides remote access to trading via the Internet.
MICEX structure
The MICEX Group includes the following divisions:
- MICEX CJSC;
- MICEX Stock Exchange CJSC;
- National Commodity Exchange CJSC;
- MICEX Clearing House CJSC;
- CJSC JSCB National Clearing Center;
- National Settlement Depository CJSC;
- A number of regional exchange and settlement centers.
MICEX activities
The MICEX is a large financial system that provides services for organizing electronic trading in the foreign exchange and stock markets, as well as settlement, clearing and depository services.
Let's consider each type of activity of the Moscow Interbank Currency Exchange in more detail.
Currency market
Until 1998, foreign exchange trading on the MICEX was carried out in the form of auctions. A foreign exchange auction is not much different from any other type of auction.
The bottom line is that the seller sells foreign currency (the MICEX mainly traded in US dollars, German marks, British pounds and French francs) for the national currency through competitive bidding.
Now the currency is sold and bought on the MICEX in real time through the electronic trading system (SELT), which also combined 8 regional currency exchanges.
It is based on the results of trading on the MICEX that official exchange rate of the Russian ruble to major world currencies. According to the official statistics of the exchange, at the end of 2010, the total turnover of the currency exchange amounted to more than 79.5 trillion rubles.
Of course, the huge amounts of transactions in the foreign exchange market required the exchange to create an effective risk management system. In order to guarantee the timely fulfillment of trading obligations by trading participants, the principle of "payment versus payment". According to it, all settlements with bidders are carried out after they fulfill their obligations.
Stock market
The MICEX Stock Exchange is the largest Russian marketplace where transactions with securities are carried out on a daily basis. It accounts for about 98% of the domestic stock market, as well as over 70% of the total turnover of securities. According to statistics, the total turnover of the exchange in 2010 amounted to more than 23.8 trillion rubles.
Here you can buy the leading industrial enterprises of Russia. For example: OJSC Norilsk Nickel, OJSC Lukoil, RAO UES of Russia, OJSC Gazprom, OJSC Surgutneftegaz and many others.
In total, about 1,300 different securities are sold and bought on the MICEX stock exchange per day.
More than 650 professional organizations work here, whose services are regularly used by hundreds of investors. The trading itself is carried out through a modern electronic trading system, into which regional platforms are integrated.
The stock exchange also provides companies with an IPO to attract investment. Since 2009, the Innovation and Investment Market has also been operating within the MICEX SE.
It was specially created to attract additional investment in the high-tech manufacturing sector.
Here, the placement and trading of securities of high-tech companies working in the development of innovative technologies is carried out.
How can you use it? For example, you came up with and created some interesting Internet project that is useful to people and makes a profit. If you want to develop this project, but you do not have enough money, then you can go to the RII stock exchange.
There are many rich people, as well as companies, who are ready to invest their funds in a promising company in order to increase their money in the future.
True, the legal status of your company in this case must be JSC (open joint stock company) and the estimated capitalization from 50 million rubles Further, the RII exchange helps you to conduct a public offering of shares, in other words, the sale of your company's shares to all people interested in this. Thus, in return for shares, you receive money for the development of your project.
Young companies that are innovative are interesting primarily because they have the prospect of great growth. IN USA a similar exchange is called NASDAQ and such companies are traded on it:
- Microsoft;
- Apple;
- Amazon.com;
- Dell;
- eBay;
- Google;
- Intel;
- and etc.
Of course, speaking of the largest Russian stock exchange, it is impossible not to mention MICEX Index... The MICEX Index, together with the RTS Index, is the main indicator of the state of the country.
Simply put, the stock index shows how much the securities of Russian companies that are sold on the market have grown or fallen in price.
To calculate the indicator of the MICEX Index, data on changes in the price of shares are used 30 leading companies... This includes companies such as:
- Gazprom;
- Lukoil;
- Sberbank;
- Norilsk Nickel;
- Rosneft;
- Surgutneftegaz;
- Sberbank;
- Aeroflot;
- and others
The MICEX stock index is a kind of average temperature for the chamber. In other words, it reflects the state of the market as a whole, and not of any particular company. This average indicator helps to understand in which direction the economic state of the country is moving, whether it is falling or rising.
If companies in our country work well and make a profit, then investors are interested in buying shares of such companies.
To make it clearer, let's imagine that you have free funds that you decided to invest in stocks. Let's say you bought shares of several different companies and after some time decided to check their value.
Shares of three of the five acquired companies gained in value, while the shares of the remaining two companies fell. But, if you sell all the shares, then ultimately you remain in the black.
The total profit was + 20%. This + 20% is the very indicator that signals us about a favorable market environment.
Separately, it should be noted that MICEX is the largest government securities trading system, with about 280 authorized dealers operating in this segment. The MICEX index works in a similar way. When the exchange opened, the calculated figure of 100 points was taken, from which the work began.
On the MICEX all types are offered, as well as a full range of possible transactions with them: initial placement and operations on the secondary market, conclusion and execution of REPO transactions (transactions involving the sale of a security with the condition of its redemption after a certain period at a predetermined price).
Derivatives and commodity markets
In addition to trading on the currency and stock exchange, the MICEX is the organizer of trading on the derivatives and commodity markets of the country.
Currently, the exchange holds leading positions in the Russian foreign exchange market, its share is about 95%. Within the framework of the MICEX, the dollar, the euro, the euro-to-dollar rate, as well as futures on interest rates of the interbank money market are traded.
The National Commodity Exchange, part of the MICEX group, is one of the organizers of exchange trading when the state purchases or sells large quantities of certain goods, mainly grain.
The main principle of any exchange is to provide guarantees for the execution of transactions made on it. Therefore, the MICEX provides all professional participants in exchange trading with settlement, clearing and depository services.
To carry out these functions, special units have been created.
The MICEX Clearing House provides settlement services for trading and controls the settlement of transactions.
- Clearing (non-cash) settlements in the foreign exchange market are carried out through the National Clearing Center.
- In the stock and derivatives markets, such settlements are made through the MICEX CJSC.
It should be noted that NCC became the first organization in Russia to provide clearing services. His responsibilities include calculating obligations, organizing their implementation and controlling risks.
The National Settlement Depository is the country's leading settlement depository. It is the leader in both the volume of stored assets and turnover.
Its function is that clients transmit to it deposit your securities, after which the depository provides services for all operations with these securities, including control over the settlement of transactions.
Tasks and functions of the MICEX
In conclusion, I would like to summarize the above and separately note the main tasks and functions of the Moscow Interbank Currency Exchange.
Among the priority tasks of the MICEX are:
- trading in foreign currency;
- determination of the ruble exchange rate against other currencies;
- ensuring the turnover of investment capital in the country's economy;
- the formation of a modern international financial center in Moscow;
- creation of a competitive financial market in Russia and its integration with the world capital market.
The main functions of the exchange:
- Organization of trading within the framework of the currency, stock, derivatives and commodity markets.
- Control over the fulfillment of their obligations by bidders.
- Provision of informative, settlement, clearing and depository services to trading participants.
- Maintaining a balance between the interests of all market participants: investors, shareholders, the state, professional financial organizations, etc.
As you can see, the MICEX is not just a currency exchange, it is a complex financial structure that includes many divisions that perform certain functions and tasks.
A private investor needs to know and understand what the MICEX is, because the bulk of trading in shares takes place on this exchange. And if you plan to become an investor and trade stocks, you must understand where and how you will do it.
P.S. And in conclusion, I suggest you watch a video that will destroy your prejudice about fate and chance.
PJSC " Moscow Exchange", Formerly known as" Moscow Interbank Currency Exchange"Is one of the main platforms in Russia. It is convenient for all traders of the post-Soviet space because, in addition to the security of transactions and high capitalization, it provides the opportunity to trade in Russian.
Within the framework of the site, there are stock, foreign exchange, derivatives and money markets. There is also a commodity section, where trading in gold and silver has been conducted since 2013, and grain interventions. The parent structure also has a National Clearing Center and a National Settlement Depository. They provide a full range of services related to exchange transactions.
Historically, the most popular and largest Russian stock exchanges have become MICEX and RTS that work with stocks, futures, bonds and other financial assets. But, until the moment of merging into a single Moscow Exchange, each of them had their own story.
MICEX Stock Exchange (MICEX)
The history of the Moscow Exchange began in 1992, when an independent platform was created on the site of the VEB Currency Exchange. Until then, Vnesheconombank was the only operator, but with the collapse of the USSR, it had neither financial reserves nor the capacity for analytical and trade work. It is not surprising that the vacant niche was instantly occupied by private business.
In the early 1990s, stock trading attracted such a number of merchants that the number of stock exchanges reached 1.7 thousand. Often they became a platform for the withdrawal of capital abroad, cashing out funds and buying up assets of enterprises. The placement of government short-term bonds on the MICEX (since 1993) was perceived as a symbol of confidence on the part of the state and authorities. On the backgroundThe collapse of the Russian economy, wage arrears and the galloping inflation of the stock exchange made export one of the conditions for the survival of the country and business. A few years after the start of work on the MICEX, trading in futures and options appeared, which further strengthened its position. The currency was sold only in the form of auctions, and the process itself was rather slow and laborious.
By 1998, GKOs became one of the most popular financial instruments; on the eve of the state default, the yield on them reached 140%. Considering that trading took place directly on the Moscow Interbank Currency Exchange, the refusal to pay debts hit it exactly. The default discredited the site so much that many investors chose to leave.
Interesting thing. In 1997, the MICEX launched the SELT electronic lot trading system, which was able to supplement the auction system. During the year they operated in parallel, after which SELT became the main platform for the purchase and sale of currency. Its main advantage is openness, small lots and extreme automation. Trades in US dollars and Hong Kong dollars, euros, British pounds, yuan, hryvnias and tenge start in the morning after fixing.
In the same 1997, the MICEX index began to be calculated on the Moscow Interbank Currency Exchange. In 2003, mutual funds entered the market and by the 2008 crisis, about a thousand companies were trading on the site. The total capitalization of companies almost reached $ 600 billion and continued to grow - the country was saturated with oil and gas money.
RTS Exchange (RTS)
One of the main competitors of the MICEX in the arena was the non-profit partnership for the development of the financial market, which was born in 1995. Since the name "NP RFR" was dissonant for the exchange, the new product was named "RTS - Russian Trading System". Almost immediately, the stock indicator began to be calculated, which was simply called the RTS Index.
The fundamental difference from classical exchanges is the flexibility of the RTS
the parties could choose the currency of settlement, the period of purchase and sale, the method of settlement. At first, there was only one market, Classica, characterized by simultaneous money-stock transactions (this prevented the parties from becoming indebted) and more than 500 financial instruments. The RTS itself acted as the clearing agency.
- In 2000 the non-profit partnership received a stock exchange license while simultaneously launching projects and the RTS Board. The first of them was the classic futures and options market, the second was a platform for trading securities, whose issuers were not listed on the RTS. If the shares were quoted very high on the Board, they could move to the regular markets - classic or stock.
- In 2004 the stock exchange was corporatized; in 2005, an anonymous trading regime was launched, which attracted a number of foreign investors and companies from offshore zones. In 2007, the Start platform for small and medium-sized businesses was launched, in 2008 - Global, which provided Russian traders with access to foreign securities around the world.
Interesting thing. Enormous successes were achieved on the basis of interethnic relations. In 2008, practically during the crisis, PJSC "Ukrainian Exchange" was opened in Ukraine. It became a breath of fresh air, since even individuals with a computer, Internet access and initial capital could participate in online trading. In 2009, the Kazakhstani ETS platform, created with the participation of RTS, began its work.
Even in the difficult year of 2009, the owners of RTS managed to increase trading volumes by launching a new market - it was named Standart. A little more than 30 most popular shares were traded here, margin trading and leverage were in place, the exchange was the clearing operator, and settlements were carried out in Russian rubles. The fixing of the margin was carried out in parallel with the FORTS market.
- In 2011 the merger of the MICEX and the RTS was announced, which led to the formation of a super exchange, whose capitalization could reach 700-800 billion US dollars. The circumstances of that deal are little known, however, based on the terms of the transfer of RTS shares by five investors - Renaissance Capital, Aton, Alfa-Bank, Troika Dialog and Da Vinci - to the MICEX, the RTS should have cost about $ 1.2 billion . USA.
Now PJSC " Moscow Exchange"Is the undisputed leader in Russian stock trading. There are six main markets on the united platform - derivatives, stock, foreign exchange, money, MOEX Board and standardized derivatives. In addition, commercial orders of the Ministry of Agriculture of the Russian Federation for grain interventions pass through the site.
Advantages and conditions of the merger:
- development of exchange trading (all securities);
- combined experience to improve the level of clearing, risk management;
- trading in financial instruments of foreign and Russian investors;
- reducing costs for investors and traders.
Terms and financial results of the merger:
| № | Index | MICEX 2010 (thousand roubles.) |
RTS 2010 (thousand roubles) |
MB 2012 (thousand roubles.) |
| 1 | Authorized capital | 1 574 654 | 163 606 | 2 416 918 |
| 2 | Trading volumes | 175 740 000 000 | 46 633 110 | 369 800 000 000 |
| 3 | Net profit | 4 826 263 | 1 005 022 | 8 200 329 |
| 4 | Share premium | 4 998 | 1 137 608 | 27 403 927 |
| 5 | Fee and commission income | 7 768 810 | 1 565 365 | 11 546 969 |
| 6 | Number of issuers | 693 dmg. | 340 units | 545 dmg. |
In January 2016 the monthly trading volume amounted to 67 trillion. rubles or about 800 billion US dollars. Note that when determining the trading volume, the amount of leverage is used, which can be 10-100 times more than the actual financial costs. Judging by the data posted on the official website of the exchange, the situation is an order of magnitude better than that of January 2015.
Full list of Moscow Exchange markets:
- stock market- stock and share market, bond market;
- derivatives market- futures and options;
- currency market- money from other states;
- monetary- deposit and credit operations, REPO;
- commodity market- precious metals;
- standardized derivatives market;
- market of innovations and investments;
- RTS board.
Listing on the Moscow Exchange
Listing on the Moscow Exchange is rather complicated and includes a multi-stage system. It is based on the type of financial instrument, the issuer's status (resident-non-resident) and the trading level. They are of the first, second and third, and the first two are quoted, the last one is not. Based on the membership of the level, the input requirements are determined.
In particular, to enter the first level of shares of Russian issuers, a capitalization of more than 60 billion rubles is required, a free fleet of common shares is more than 10%, a free fleet of preferred shares is more than 50%, the issuer's lifetime is more than three years, and a financial report is attached to the application. over the past three years. The daily trading volume must exceed 1 million rubles. for at least 70% of the time.
As for the issuer itself, the applicant for inclusion in the first level of the issue must form a board of directors, committees for audit, issue, and nominations. It is also necessary to have a corporate secretary, an internal audit policy and a record of this in the statutory documents. The requirements for companies planning to enter the second tier are less stringent.
Quite loyal requirements are imposed on foreign issuers, which practically do not differ from the requirements for residents.
True, they need to be in the primary listing on foreign exchanges (NASDAQ, NYSE, LSE) and provide up-to-date reporting and audit that meets international requirements. Translation into Russian is not required, but a mark from rating agencies is required. The listing fees are very loyal. So, the inclusion of securities (depending on the level) costs 200, 100 or 20 thousand rubles, bonds of the Bank of Russia - 60, 40 and 20 thousand rubles, respectively, shares of mutual funds and participation certificates - 80, 60 and 20 thousand ... Inclusion of securities in the premium segment costs 300 thousand rubles, maintenance has the same price as inclusion.
Over the past year and a half, the Central Bank of Russia has devalued the national currency, making the price of participation in the Moscow Exchange one of the most attractive in the world. This was reflected both in the growth of the key indices of the MICEX and RTS, and in the general mood of investors.
Moscow Exchange and trading features
focused on the selection of securities of only those companies that most of all affect the economic component of state stability. Since this exchange is the largest, most transactions are carried out on it, so that liquidity becomes the cornerstone. To include any company in this list, you must go through a special commission.
Despite the fact that the MICEX exchange is the largest, the activity of the Russian market is aimed at RTS Index, which is supported by the forecasts of Western analysts. The differences between these indices do not prevent their aggregate from displaying narrowly focused segments and encouraging traders to work with them.
The Moscow Stock Exchange is open from 10.30 am to 6.45 pm Moscow time. Working hours for transactions in foreign currency from 10.30 to 15.00.
Turnover and assets of the Moscow Exchange
The average daily turnover of the exchange varies from five to six billion dollars. According to official data, in 2014 the average monthly turnover amounted to 36.5 trillion rubles. The most weighty MB tools:
- RTS index;
- USD / RUS;
- Gazprom shares;
- Sberbank shares.
In addition to these assets, we can safely talk about 43 futures contracts that are popular in trading.
Major issuers of the MICEX index
Major issuers of the RTS Index
- LUKOIL - 15%
- Gazprom - 15%
- Sberbank - 13.59%
- Rosneft - 9.03%
- Norilsk Nickel - 5.05%
- Surgutneftegaz - 4.21%
- NOVATEK - 3.55%
- RusHydro - 3.37%
- VTB - 2.47%
- Uralkali - 2.41%
Interesting and scandalous facts about the MICEX-RTS
Contrary to generally accepted information about the ideal merger of exchanges, this deal was unsuccessful, the result - the loss of several tens of millions of dollars.
December 19, 2011 - the first trading day on the united exchange, ended with a series of scandals caused by system failures. A system error uncorrected after clearing led to the appearance of open short positions on traders' accounts, which they did not commit. The result for traders and margin calls was significant losses, to refund which the exchange has refused... Although she created new agreements that reliably protected the rights of investors.
During this year, there were seven more similar failures, which broke all records of previous years.
A celebration of social justice
On June 21, 2014, strange things began to happen on the FORTS derivatives market of the Moscow Exchange. From six o'clock in the evening, a kind of automated trading system launched a stormy activity in a "frenzied" mode. She bought futures for dollars at 33.9 rubles and sold at 32.75 rubles. In two minutes of this"Madness" deals were made for seven hundred million dollars. But, someone noticed it and stopped the system. The exchange has officially announced that the deal will not be canceled, but the name of the bank that "got" for such an amount has not been announced. So the high frequency traders have become fabulously rich.
B. Kislovsky office
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The Moscow Exchange was formulated in today's format in 2011. It was created as a result of the merger of the Moscow Interbank Currency Exchange (MICEX) and the Russian Trading System (RTS).
At the time of the merger, the MICEX had existed for about 10 years. Once this site was created under the auspices of the Bank of Russia for holding auctions for the sale of currency - daily fixings. Gradually, currency trading was transferred to the usual continuous exchange format. Until 1998, the MICEX was the place where transactions with government short-term bonds were carried out. The MICEX stock market from the very beginning differed from other sites in that trading was conducted in rubles and in smaller lots.
RTS is the oldest stock trading platform. Transactions were carried out in foreign currency, often in the format of negotiated deals.
In 2013, the Moscow Exchange became a joint stock company, whose securities are freely traded on the market. However, the largest shareholders are still the Central Bank of the Russian Federation, Sberbank, Vnesheconombank and the Bank for Reconstruction and Development.
Listing on the Moscow Exchange
Operations on the Moscow Exchange are carried out in several sections.
First, the currency section: US dollar (USD), euro (EUR), Chinese yuan (CNY), Ukrainian hryvnia (UAH), Kazakh tenge (KZT), Belarusian ruble (BYR).
Secondly, the stock section: trading in shares, federal loan bonds (OFZ), regional and corporate bonds, Eurobonds, depositary receipts, investment shares, mortgage participation certificates (ISU).
Third, the derivatives market of the Moscow Exchange: futures on indices (MICEX index, RTS index, RVI volatility index), individual Russian stocks, federal loan bonds and Russia-30 Eurobonds, currency pairs, interest rates, as well as contracts for exchange commodities: gold, silver, platinum, palladium, copper, oil, sugar. There are also options contracts for some of these futures.
In addition, some commodities are traded on the exchange: gold, silver, so-called state procurement interventions in the grain market are organized.
Money market transactions, including repo transactions, are carried out on the exchange platform.
Features of the exchange
Clearing of the Moscow Exchange is carried out through the National Clearing Center CJSC, 100% of the shares of which are owned by the exchange itself.
Based on the results of the MICEX trading, the Central Bank of the Russian Federation determines the official exchange rate of the ruble against a number of foreign currencies. Another important indicator that the market is tracking is a series of MICEX indices reflecting business activity and the state of the Russian economy.
Quotes
The prices for the main, most liquid shares traded on the Moscow Exchange can be viewed on the page.
Contact details
Address: 125009 Moscow, Bolshoi Kislovsky per., 13
Official website of the exchange: https://www.moex.com/
Moscow Exchange
Moscow Exchange Is the largest exchange Group in Russia and Eastern Europe in terms of trading volume and number of clients. It was formed on December 19, 2011 as a result of the merger of the MICEX and RTS exchanges. It is included in the TOP-20 of the world's leading exchanges in terms of the volume of trading in securities and the total capitalization of traded shares. Takes 9th place in the TOP-10 largest exchanges for trading in derivatives.
The total trading volume in all markets in 2011 amounted to 10 trillion US dollars - about 300 trillion rubles. The total number of transactions for the year - 358.5 million [ source?]
The Moscow Exchange plays a key role in the development of the Russian financial sector today. This is the only place for transparent market pricing for Russian assets, where a full range of trading and post-trading services are provided. On the Moscow Exchange, participants have access to a complete infrastructure for trading stocks, bonds, currencies, investment shares, commodities, and derivative financial instruments for all types of assets.
History of the Moscow Exchange
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STRUCTURE OF THE MOSCOW EXCHANGE GROUP
The Moscow Exchange Group includes: CJSC MICEX Stock Exchange, CJSC JSCB National Clearing Center, NCO CJSC National Settlement Depository (NCO CJSC NSD), CJSC Depository Clearing Company (CJSC DCC), CJSC National Commodity exchange "(CJSC NTB), LLC" MICEX-Finance ", CJSC" MICEX-IT ", CJSC" RTS Clearing Center ", LLC" E-Stock ", OJSC" Mosenergobirzha ", PFTS Stock Exchange (Ukraine), PJSC" Ukrainian stock holding ", LLC" Ukrainian Central Counterparty ", JSC" Commodity Exchange ETS ", LLP" Clearing Center ETS ", RTS Exchange Europe Ltd, LLC" Technical Center RTS ", regional offices - CJSC" MICEX-Povolzhye ", CJSC" MICEX -Ural ”, CJSC“ MICEX-South ”, CJSC“ MICEX-North-West ”.
The organizers of trading within the Group are the Moscow Exchange and the MICEX Stock Exchange. Settlements and depository services are carried out by NCO CJSC National Settlement Depository (NCO CJSC NSD), CJSC Depository and Clearing Company and NCO Settlement Chamber RTS. Clearing services are provided by RTS Clearing Center CJSC and National Clearing Center CJSC.
INDICES
Derivatives market
The FORTS futures and options market is the leading derivatives trading platform in Russia and Eastern Europe. FORTS combines the developed infrastructure, reliability and guarantees of the Moscow Exchange, as well as the most modern technologies for trading futures and options, proven over more than ten years of stable and successful market development.
Currently, derivative financial instruments are traded on the FORTS derivatives market, the underlying assets of which are: RTS Index, MICEX Index, Russian Volatility Index, sectoral indices, stocks, federal loan bonds, foreign currency, MosPrime three-month loan rate and commodities. It is included in the TOP-10 of the largest derivatives exchanges in the world. Futures on the RTS Index is the most liquid instrument of the Russian stock market and one of the most traded on index assets in the world.
RII sector
Since July 15, 2009, the Market for Innovations and Investments (MII of the Moscow Exchange) has been operating on the Moscow Exchange - an exchange sector for high-tech companies created by the Moscow Exchange jointly with RUSNANO on the basis of the previously existing Sector of Innovative and Growing Companies (IRK Sector).
The main task of the RII of the Moscow Exchange is to assist in attracting investments, first of all, in the development of small and medium-sized businesses in the innovative sector of the Russian economy.
To organize effective interaction on the RII project, which is of high importance for the innovative development of Russia, the Moscow Exchange has established the Moscow Exchange RII Coordination Council, which includes representatives of relevant ministries and departments, development institutions, legislative authorities and professional associations.
National Commodity Exchange CJSC
Projects for the organization and development of exchange commodity markets have been implemented through the National Commodity Exchange CJSC. The National Commodity Exchange was established in July 2002. The main direction of NTB development is the organization of the exchange commodity market (cash goods, derivatives) in Russia. The National Commodity Exchange has a license from the Federal Service for Financial Markets of Russia No. 129 dated September 26, 2002 to organize exchange trading in commodity sections:
1. Electricity
2. Energy carriers (oil and oil products, gas and gas condensate, coal)
3. Ferrous metals
4. Non-ferrous metals and alloys
5. Building materials
6. Timber and timber
7. Cereals, legumes and industrial crops
8. Agricultural products
9. Pharmaceutical products
10. Aquatic biological resources
11. Chemical industry products
12. Standard contracts
Since 2002, NTB has been involved in the preparation, organization and conduct of exchange trading in the conduct of state procurement and commodity interventions to regulate the market of agricultural products, raw materials and foodstuffs of the Russian Federation. NTB is an authorized exchange of the Ministry of Agriculture of the Russian Federation.
In April 2008, NTB launched trading in delivery futures contracts for wheat of 3 and 4 classes on EXW terms with delivery at elevators in the Southern Federal District of Russia and delivery futures contracts for wheat on FOB terms at the port of Novorossiysk.
Statistics
Dynamics of trading volume in the markets of the Moscow Exchange Group, RUB trillion
The international cooperation
Taking into account the actively ongoing processes of globalization and Russia's accession to the World Trade Organization, the Moscow Exchange is implementing a development strategy that provides for integration into the infrastructure of the world capital market. The number of foreign participants in the markets of the Moscow Exchange Group is growing, the share of foreign investors' operations in the turnover of trading in shares on the MICEX stock exchange exceeds 20%. As part of international cooperation, the Moscow Exchange maintains an active dialogue with such exchanges as the New York Stock Exchange, NASDAQ, the Chicago Mercantile Exchange, the London Stock Exchange, the German Exchange, the Vienna Stock Exchange, OMX Group, the Shanghai Stock Exchange and others. Moscow Exchange has signed memorandums of cooperation with many of these exchanges. Since 2002, the MICEX has been a corresponding member, and in 2007 it becomes an affiliated member of the World Federation of Exchanges, which unites over 100 world exchanges, which together account for 97% of the capitalization of the world stock market. In 2007, the level of participation of the MICEX in this organization was increased from correspondent to affiliated. The Moscow Exchange Group, together with the International Association of CIS Exchanges, participates in projects to create conditions for the formation of an integrated stock market of the CIS countries on the technological basis of the national exchanges of the Commonwealth countries.
The Moscow Exchange Group maintains contacts with international professional financial organizations such as the International Association of Stock Exchanges (FIBV), the Federation of European Stock Exchanges (FESE), the Federation of Euro-Asian Stock Exchanges (FEAS), the International Stock Markets Association (ISMA) and others.
Partnership projects in Russia Skolkovo
On October 10, 2011, the MICEX and the Skolkovo Foundation signed an agreement on cooperation in the development of the MICEX innovation and investment market. Cooperation between the Skolkovo Foundation and the MICEX is aimed at ensuring the implementation of joint projects to support innovative companies using the tools of the Skolkovo Foundation and the MICEX RII, organizing joint events to promote the MICEX RII, information and analytical support for innovative companies. In order to strengthen cooperation between the MICEX and the Skolkovo Fund, the Board of Directors of the MICEX CJSC included Alexey Beltyukov, Vice President, Director for Development and Planning of the Skolkovo Fund, in the coordination council for the MICEX Innovation and Investment Market.
Moscow Exchange is a tourist attraction
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Moscow Exchange in Kitay-Gorod |
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Nowadays, many transactions are carried out using all kinds of trades conducted on specially designated sites. Russian stock exchanges are also among them and still remain something unknown and incomprehensible for the average citizen of the country. This is largely due to the fact that the activities of such organizations on the territory of the state were under the strictest ban for most of the twentieth century. But today you should have at least a basic understanding of the functioning of these powerful economic institutions, since this will allow you to better navigate the news of the economy of the state and the world, and, if you wish, will give you an excellent opportunity to earn some money.
Why were the stock exchanges of the Russian Federation created?
To begin with, Russian stock exchanges are non-profit organizations that exist to create all the necessary conditions conducive to the circulation of securities. Moreover, their activities are rather strictly regulated by both domestic and international legislation.
Each Russian stock exchange performs the following main functions:
- Maintaining and organizing the flow of the sale of securities.
- Providing comprehensive information to all interested parties about putting up for sale bonds, shares, etc.
- Guaranteed access to all bidders with equal access directly to the bidding process.
- Determination and announcement of the market price of all securities that appear in the trading field.
- Guarantee of execution of concluded transactions, arbitration, if necessary.
- Support at a high level of professionalism of all persons involved in the auction.
Current market situation
Today, the Russian stock market is still actively developing and forming. However, the large exchanges of the Russian Federation still demonstrate a high level of their work, and it is no more difficult to take part in their activities than on other similar global stock exchanges.
According to specialized experts, today there are about eleven stock exchanges in Russia. But there are only five really worthy and promising of them. These include:
- Russian trade exchange.
- "St. Petersburg".
- St. Petersburg Currency Exchange.
- Siberian Interbank Currency Exchange.
Largest foreign exchange organization
From the very beginning, this structure had as its main specialization conducting foreign exchange auctions, and later there was also a place for a stock exchange, where Russian issuers were trading, the maximum capitalization of which at some points exceeded $ 500 billion.
The Moscow system at the time of its operation serves six markets, namely: derivatives, stock, commodity, over-the-counter, currency, money.
At the same time, the stock segment is additionally divided into three more segments:
- Main market.
- Standart.
- Classika.
It is precisely the segment that accounts for about 80% of all trades in shares and over 99% of trades in bonds. This sector, in fact, is the real center for the formation of liquidity for Russian securities, and is also considered the leading trading platform for foreign investments in the shares of leading domestic companies.
The main Russian stock exchange also has a very active foreign exchange market, which has access to trading in the United States dollar, Ukrainian hryvnia, euro, Belarusian ruble, Chinese yuan, currency swaps and a dual currency basket.
It is noteworthy that this exchange of Russian companies has become the place where many of the commercial structures of Russia that previously worked on foreign trading floors are included. For example, in March 2017, the largest builder in Moscow - the PIK group - decided to terminate its membership on the London Stock Exchange and become a participant in the MICEX-RTS trading. The management of the company explained this decision by the fact that due to this, the liquidity of their shares will be increased.
According to Tom O'Brien, head of the international sales department of the Moscow Exchange, the London trading floor is inferior to the Russian one because it has exclusively foreign money, while the capital of local and foreign companies is concentrated in Moscow.
Petersburg giant
Considering the Russian stock exchanges, it is necessary to pay special attention to the St. Petersburg site. Various commodity futures are traded here and, one might say, form Russian prices for soybeans, corn, wheat, diesel fuel. In comparison with the St. Petersburg Exchange, all other similar Russian exchanges have practically zero liquidity, but they still continue to work.
Main exchange of Siberia
The state registration of the Siberian took place in 1992. Its founders were 32 commercial banks and 17 cities in the region. The trading platform fully accompanies the transactions made on it, starting from the submission of applications and ending directly with the settlement.
The Siberian Russian exchange of trades became famous in the country for the fact that it managed to create a universal Internet trading system called QUIK on the basis of its subsidiary ARQA Technologies.
In addition, a distinctive feature of the described exchange is that it has remote outlets located in Omsk, Barnaul and Krasnoyarsk. At these sites, forward contracts are being traded for the supply of agricultural products for the future harvest.
Since 2007, the main focus of the exchange has been the organization of trading in foreign currencies. Already in the first year, the volume of transactions in currencies amounted to almost 3 billion rubles.
Representative of the Far East
In 1995, the Russian stock exchanges were replenished in the form of the Asia-Pacific Interbank Currency Exchange. Already in 1997, she became a representative of the National Depository Center, and in 2006 became a member of the MICEX Stock Exchange.
Nowadays, the Far Eastern Exchange provides settlement services to over 50 banking institutions and other financial structures located in the region.
Conclusion
The history of the creation of Russian stock exchanges dates back to the time of Peter the Great. More than three hundred years have passed, today exchange trading in Russia is held at the highest level with the involvement of foreign capital. We hope that in the future, the dynamics of the development of exchange trading in the Russian Federation will be positive and capable of significantly increasing the country's prestige in the international arena.
