The decision to create the 'RTS Stock Exchange' joint-stock company was made by the RTS Stock Exchange Board of Directors at the end of 2003. The creation of this new organization was in response to the need of market participants of having a transparent public self-regulated profit-making structure.
At present the company is getting ready to start trading; participant accreditation is under way, with 40 companies already registered. The trading and settlement complex has also been tested. The exact date when trading starts will be announced shortly.
At the beginning the new marketplace will facilitate anonymous trading with 100% preliminary deposition of securities in 'delivery versus payment' trading mode. A company - market participants will be able to trade all stocks, including 'Gazprom', from one cash position.
The 'RTS Stock Exchange' joint-stock company chairman and acting president of the RTS Stock Exchange Sergei Rodionov said that the Partnership considers transferring trading activity on FORTS, the derivatives market, from the RTS Stock Exchange non-profit partnership to 'RTS Stock Exchange' OJSC. This move will promote development of new derivative instruments, including commodity derivatives, and help increase capitalization and reliability of RTS derivatives market.
