Trading would be conducted on the MICEX
floor -- the current venue for Russia s active currency trading.
Opened in 1992, MICEX
is the leading Russian stock exchange, consisting of shares and corporate bonds about 600 Russian companies with a total capitalization of nearly 24 trillion Rubles.
Each QIWI ADR represents one ordinary share and has been admitted to trading on MICEX
under the proposed symbol "QIWI." QIWI's ordinary shares are not traded.
The political will behind the proposed merger of Russian exchanges RTS and MICEX
should mean the deal results in improved access for the international investor to Moscow, and accelerated development of capital market infrastructure.
The Russian stock exchange, MICEX
, has announced that it has hired foreign banks to value its rival, RTS.
Russian investors are now showing quite a good activity - RTS and MICEX
reached its local maxima.
Russia's ruble-denominated MICEX
stock index sank by 3.09 percent to 1,371.58 points while the dollar-denominated RTS plunged by 5.13 percent to 1,319.58 points.
The executive told the agency that the fund was negotiating with other stockholders who are planning to offload their stakes and added that major foreign investors were also interested in buying MICEX
shares accounting for between 1% and 3% of its share capital.
The issue carries a floating coupon related to the MICEX
index and a fixed coupon rate of 0.1% a year, paid semi-annually.
The Russian government's plans to transform Moscow into a financial hub have taken a step forward after the countries main stock and derivatives exchanges MICEX
and Russian Trading Systems (RTS) agreed a non-binding deal to merge.
Sistema (LSE:SSA) (RTS:AFKS) (MICEX
:AFKC) (MSE:SIST), which develops and manages businesses in select service-based industries including telecommunications, high technologies, radio and space technologies, banking, real estate, retail, media, tourism and healthcare, stated yesterday (1 September) that its subsidiary, Shyam Telelink Ltd (Shyam Telelink), has received radio frequencies in three more Indian circles, in the CDMA 800 MHz range.