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The MICEX Group, which integrates trading and settlement systems for Russia’s financial markets, has announced that its net profit totaled RUR 1,033 million in Q1 2008, an increase of 12.7%.
The net profit of the MICEX itself (the foreign currency exchange) fell 6.8% to RUR 583 million. This was because clearing for the currency market was transferred to a Group subsidiary, The National Clearing Centre, a joint-stock commercial bank. The net profit of the National Clearing Centre amounted to RUR 77 million against a loss of RUR 1 million in Q1 2007.
In the first three months of 2008 the total volume of on-exchange trading across all the markets of the MICEX Group amounted to RUR 26.8 trillion (US$ 1.1 trillion), up 60% on Q1 2007. The daily average volume of on-exchange trades in the markets of the MICEX Group reached RUR 470.8 billion (US$ 19.4 billion).
These unaudited, consolidated financial statements were prepared under Russian Accounting Standards for the Moscow Interbank Currency Exchange (MICEX) and its subsidiary companies (the MICEX Group). The MICEX Group comprises the MICEX Stock Exchange, the MICEX Settlement House, the National Depository Centre, the National Clearing Centre and some other organizations.
Find more information on the MICEX Group’s financial reports on the MICEX website: www.micex.ru/group/finstatement.
About the MICEX Group:
The MICEX Group, which has a central role within the infrastructure of the Russian
capital markets, comprises the Moscow Interbank Currency Exchange (MICEX), the
MICEX Stock Exchange, the National Mercantile Exchange, the MICEX Settlement
House, the National Depositary Center, the National Clearing Center, and regional
exchanges. Together, these organizations provide trading, settlement, clearing and
depositary services to about 1,700 market participants.
