The MICEX Stock Exchange (the MICEX SE) has launched trades in securities which had circulated in the MICEX Stock Market Section. In the first trading session, held 11 January, about 36 thousand transactions were carried out. The volume of trading amounted to 10.7 billion rubles (388 million US dollars), stocks accounting for 5.9 billion rubles and bonds accounting for 4.8 billion rubles. This is the usual average daily turnover of trading for the first post-New Year holiday days. Trades are held in 399 securities of 268 issuers, admitted to trades on the MICEX SE. The number of listed securities is 172 (89 issuers), which is 23% more than the number of securities which were listed in the MICEX Stock Market Section. The procedure of trades and settlements has not changed much for participants, while their costs have been reduced as a result of decreasing the commission rate (2-7% for different instruments).
Trades in securities were transferred to the MICEX Stock Exchange as a result of the reorganization of the MICEX stock exchange business. The MICEX reorganization program was triggered by the amendments to the Law "On the Securities market". The functions pertaining to the organization of trading in corporate securities were distributed between the MICEX and the MICEX SE in the following way:
- the MICEX SE organizes the process of trading, work with clients, listing and the development of exchange technologies;
- the MICEX provides clearing services and the technological support.
The procedure of entering orders and carrying out transactions on the MICEX SE is the same as was in the MICEX Stock Market Section. Today, the number of participants in trades on the MICEX SE is 510 organizations-professional participants in the securities market. 386 organizations are admitted to trading, the number of their clients (investors) amounting to 96 thousand.
The MICEX SE has become a specialized division within the MICEX group, which organizes trades in corporate securities. The MICEX SE aims at radically improving the quality of its services for clients. It intends to introduce new instruments and trading modes and optimize its work with clients.
Find detailed information on the MICEX Stock Exchange at the MICEX SE web site (http://www.micex.ru/fbmmvb).
