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Partnership Council Approves Priorities For Russian Trading System Activities In 2002-2003

Date 23/07/2002

On June 27th, 2002, the Council of Partnership "The RTS Stock Exchange" unanimously approved the Directions for non-for-profit Partnership "The RTS Stock Exchange" activities in the next year (July 1, 2002, through July 1, 2003).

According to the document, in the upcoming year the activities of the Partnership will concentrate on the following:

Securities Market Development

  1. Active participation in easing up of RAO Gazprom trading restrictions starting from the infrastructure development phase for this market segment.
  2. Close interaction with Russian exchanges in order to build a single trading environment in Russian Federation geared towards market professionals in the regions.
  3. Cooperation with foreign exchanges and other financial institutions to help bring together Russian and foreign market participants and investors working with ruble- and dollar-denominated RTS-listed instruments.
  4. Implementation of credit settlement mechanisms.

    Technological Innovation

  5. Further development of RTS main market segment by introducing up-to-date technologies including that of continuous trading.
  6. Transaction costs reduction resulting from multilateral clearing.
  7. Development of infrastructure that would be able to facilitate trades with post depositing of assets using partial coverage and order matching considering the participants' mutual limits.
  8. Further development of repo market. Implementation of the system able to monitor the repo market participants' open positions thus minimizing risks.

    Product Line Development

  9. Development of the investment fund market segment and organization of secondary trading of ETF. Technological cooperation based, for instance, on RTS electronic data exchange system.
  10. Fixed income market development:
    • Creation of the Center that will help issuers facilitate bond IPOs.
    • Adding new instruments to RTS fixed income product line, such as government bonds.
  11. Cooperation with stock issuers during IPOs. Creation of the IPO-facilitating system in RTS.
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