RTS Stock Exchange Technical Center To Concentrate On Clearing Of Derivatives Transactions

From now on the RTS Technical Center activities will only be related to derivatives transactions clearing. Effective June 4th, 2003, all non-core businesses such as settlement and client and technical services will be transferred to the RTS Stock Exchange. The decision to restructure the RTS Technical Center business was made by the RTS Board of Directors on August 22, 2002, and approved by the Partnership Derivatives Market Committee.

"The restructuring is a logical step towards ensuring financial transparency and overall reliability of clearing on FORTS," says Vladislav Streltsov, the RTS Stock Exchange Acting President. "Our next task is to increase the capitalization of this new specialized clearing center".