RTS Order-Driven Market: 2004 Results

In 2004 total trading volume on the RTS Group Order-driven market reached the record 609 billion rubles, the 2.7 times increase on the year. The "Gazprom" stock market showed the best dynamics, with total turnover increasing threefold, to 577 billion rubles. Market participants also became more active: if in 2003 326 thousand trades were executed, in 2004 this number increased to 628 thousand.

The most popular stock, except for "Gazprom", was "RAO UES of Russia" common stock (19% of total trading volume), "LUKoil" common stock (15.3%), "Rostelecom" (15.28%). In 2004 total trading volume of second-tier stocks equaled 16% with trading volume of second-tier stocks in December 2004 reaching 30% of the total.

As of December 31 st , 2004, 273 stocks of 188 companies traded on the Order-driven market. To maintain two-sided quotes in 39 stocks of 27 issues the RTS formed the institution of exchange specialists that aim to develop liquidity in second- and third-tier stocks.

The Order-driven market is the unified market created by joint-stock company "RTS Stock Exchange" and St.Petersburg Stock Exchange where corporate stocks are traded. Market participants can submit directly addressed quotes or indirectly addressed quotes

Trading is being done via RTS Stock Exchange JSC (except for "Gazprom" transactions), clearing – through the RTS Stock Exchange non-profit partnership, settlement – via the RTS Stock Exchange Settlement Chamber.