The extraordinary general meeting of shareholders of the Asian-Pacific Interbank Currency Exchange (APICEX) was held 20 February 2007 in Vladivistok. Since 2005, the Moscow Interbank Currency Exchange (MICEX) has owned the controlling stake in the APICEX.
The extraordinary general meeting decided to make amendments to the APICEX’s Charter, following changes in the name of the organization and its location. The new full name of the company is The MICEX Regional Exchange Center - Far East; its short name is The MICEX - Far East.
The extraordinary general meeting of shareholders of the Rostov Currency and Stock Exchange (RCSEX) is to be held 27 February 2007. The MICEX is the RCSEX’s only shareholder. The RCSEX is expected to change its name to The MICEX Regional Exchange Center - South or The MICEX – South.
Commenting on these events, the MICEX President Alexander Potemkin said that the renaming of both regional exchanges were part of the strategy of the regional development of the MICEX Group.
The MICEX’s regional affiliated companies are expected to stop being regional currency exchanges representing the MICEX in certain areas of business and turn into full-fledged front offices of the MICEX Group in the Southern and the Far-Eastern federal districts. Regional exchange centers will have to energize their work with regional issuers, participants in trading and investors, promote the whole range of financial instruments and services of the MICEX Group and run educational and training programs with the participation of the MICEX Group.
