The MICEX Settlement House has opened a branch in Vladivostok (the Maritime branch of the MICEX SH), which the Bank of Russia’s Moscow Main Territorial Department has entered into the State Registration Book for credit institutions (registration # 3294/2). The Maritime branch of the MICEX SH begins its work in July this year. The address of the Maritime branch of the MICEX SH: 3, Prospekt Krasnogo Znameni, Vladivostok, 690106.
The Maritime branch of the MICEX SH has been established in the framework of the MICEX Group’s program to create regional exchange centers and provide settlement services on all exchange-based markets in Russia’s provinces.
The Maritime branch is the second regional branch opened by the MICEX Settlement House, following the decision of the Supervisory Council of the MICEX SH to create a branch network of the MICEX SH. The first branch was opened in Rostov-on-Don in March this year. The launch of the Maritime branch will help to improve the work of participants in the financial market in the Far-Eastern region by providing integrated and speedy settlement services for participants in exchange-based trading. This, in turn, will contribute to the implementation of the regional policy of the MICEX Group, aimed at promoting the MICEX Group’s financial instruments and services in Russia’s provinces.
In March 2007, the Asian-Pacific Interbank Currency Exchange, in which the MICEX owns the controlling stake, changed its name for the MICEX Regional Exchange Center – Far East (The MICEX – Far East). The MICEX’s regional branch is expected to evolve into a full-fledged front office of the MICEX Group in the Maritime federal district. Regional exchange centers emphasize interaction with regional issuers, participants in trading and investors.
The MICEX Settlement House was established in 1996 by leading commercial banks, the MICEX and regional currency and stock exchanges. It is a non-bank credit institution, which provides settlement services, including cash settlements for transactions concluded by participants in the financial market. By the size of assets, the MICEX Settlement House is among Russia’s 30 largest lending institutions. It provides settlement services in all exchange-based markets. The volume of payments, which are made daily via the correspondent account of the MICEX SH with the Bank of Russia for transactions concluded on the MICEX amounts to 200 billion rubles. About 400 Russian banks, making up around 30% of the Russian banking system, have opened their accounts with the MICEX SH.