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Implementing the MICEX Group’s regional development strategy, the MICEX has acquired 100% stake in the Urals Regional Currency Exchange (URCEX), thus becoming the only shareholder in this regional exchange. On 5 December it was decided to amend the charter of the URCEX and turn it into the Regional Exchange Center "MICEX - Urals.”
According to the MICEX President Alexander Potemkin, the acquisition of 100% of the shares in URCEX is another measure taken by the MICEX to develop a national network of regional branches and strengthen the MICEX Group’s positions in Russia’s provinces. The Regional Exchange Center will continue to cooperate with the financial community of the Urals Region.
Regional Exchange Center "MICEX - Urals” is the fourth regional subsidiary exchange recently rebranded by the MICEX. This year regional exchange centers were established in Rostov-on-Don (“MICEX-South”), Vladivostok (‘MICEX-Far East’), Nizhny Novgorod (“MICEX - the Volga Region”).
The main goals of the regional subsidiaries of the MICEX is transition from the model of regional currency exchanges representing the MICEX in selected areas of business to the model of full-fledged front office of the MICEX Group in corresponding Federal districts. Regional exchange centers emphasize interaction with regional issuers, participants in trading and investors, promote the entire range of financial instruments and services developed by the MICEX Group and conduct educational and training programs with the participation of the MICEX Group.
The Urals Regional Currency Exchange, established in 1992, operates a currency market, a government securities market, a commodity market and a stock market. In the first 11 months of 2007, turnovers for the URCEX markets amounted to:
the currency market: 370 billion rubles,
the government securities market: 207 billion rubles,
the money market: 16 billion rubles,
the stock market: 1232 billion rubles.
Find more information on the URCEX web site: www.URCEX.ru.
The Moscow Interbank Currency Exchange (MICEX), established in 1992, is the head company of an exchange holding. The MICEX Group is an integrated exchange providing services connected with organizing electronic trade, clearing and settlements as well as depository and information services. The Group also includes the MICEX Stock Exchange, the National Mercantile Exchange, the MICEX Settlement House, the National Depository Center, the National Clearing Center, regional exchange centres, regional settlement centres and some other organizations. The Group serves over 1700 participants in the exchange-based market - leading Russian banks and broker companies from Moscow and other large financial and industrial centres of Russia. Today the MICEX Group operates several key segments of the financial market: the currency market (since 1992), the government bonds market (since 1993), the derivatives market (since 1996), the share market (since 1997), the market for corporate and regional bonds (since 1999) and the money market (2004). Having implemented an up-to-date electronic trading and depository system, the MICEX became a universal financial exchange which served as a basis for the national system of trading and settlements on Russia’s regulated financial market. By the total trade volume (in January-November 2007: 96.9 trillion rubles or 3.8 trillion dollars, the average daily volume of transactions: 425 billion rubles or 16.7 billion dollars) the MICEX is the largest exchange in Russia, the CIS and Eastern Europe. It is among the world’s top 20 leading stock exchanges.
