As a result of trades on the MICEX, held 8 October 2003, the turnover of the Stock Market Section reached 31,28 bln rubles (1,030 bln dollars). This is a record turnover in the whole history of stock trading on the MICEX, which was launched in March 1997. The previous record of 24,01 bln rubles was set 23 May 2003. The MICEX Index, which reflects the dynamics of prices of 18 stocks of leading issuers admitted to trades, reached 567,52 points, having increased by 3,88% over the day. A record number of transactions in securities - 168 970 - were concluded in the course of trades.
The surge of activity was the result of the fact that Moody international rating agency raised Russia's currency rating, eurobonds rating and ruble rating from Ba2 to investment level Baa3.
According to the MICEX CEO Alexander Potemkin, reaching the record level of turnover and the unprecedented number of transactions marks the breakthrough of the Russian financial market, which will now require the MICEX and other professional market participants to make serious efforts to improve the organizational and technological aspects of their work.
The structure of the trading turnover as a result of trades held 8 October in the MICEX Stock Market Section:
- secondary trades in stocks - 22,651 bln rubles;
- secondary trades in corporate and regional bonds - 3,864 bln rubles;
- primary placement of bonds - 1,537 bln rubles;
- REPO operations - 3,228 bln rubles
As of today, 380 securities of over 200 leading Russian issuers are admitted to circulation on the MICEX, including such blue chips as RAO UES, KULoil, Surgutneftegaz, Sberbank, Rostelekom and others with combined capitalization of about 130 bln dollars. Since1997, the MICEX Index has been calculated, which is Russia's leading stock indicator. Over 500 banks and financial companies - members of the Stock Market Section - participate in trades. Over 9 months of 2003, the volume of transactions, concluded in the MICEX Stock Market, has reached 100 bln dollars or about 90% of the total turnover of Russia's leading exchange floors. In terms of this measure the MICEX takes the lead over all leading stock floors of CIS and Eastern Europe.
