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MICEX Group

MICEX Group. MICEX Group: history. MICEX was established in 1992 as a currency exchange in the form of a closed-end joint-stock company Shareholders: Central Bank of the Russian Federation Association of Russian Banks Sberbank RF Vneshtorgbank Rosbank International Moscow Bank

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MICEX Group

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  1. MICEX Group

  2. MICEX Group: history • MICEX was established in 1992 as a currency exchange in the form of a closed-end joint-stock company • Shareholders: • Central Bank of the Russian Federation • Association of Russian Banks • Sberbank RF • Vneshtorgbank • Rosbank • International Moscow Bank • Bank of Moscow • 9 other leading commercial banks of Russia • In 2004 on the base of the MICEX stock market the MICEX Stock Exchange was formed

  3. MICEX Group:financial supermarket • The MICEX Group offers trade and settlement services on the 5 markets: • currency market (since 1992) • federal bonds market (since 1993) • market of derivative financial instruments (since 1996) • equities market (since 1997) • market of corporate and regional bonds (since 1999) • Operates under the licenses of: • Central Bank of Russian Federation (currency market) • Federal Service for the Financial Markets (securities market) • Ministry of the Antimonopoly Policy (derivative market)

  4. MICEX Group: structure MICEX National Mercantile Exchange E-Stock • The technological support of the MICEX projects • Trades in the commodities • The State commodity interventions in the grain market • Trades in the currency, derivatives, federal bonds markets • Clearing in the exchange markets National Clearing Center MICEX Settlement House National Depositary Center MICEX Stock Exchange • Cash Settlements • Listing. Trades • Depositing and settlements in the securities Regional currency and stock exchanges St.-Petersburg Yekaterinburg Samara N. Novgorod Novosibirsk Rostov-on-Don Vladivostok

  5. MICEX Group: the national financial infrastructure St.-Petersburg Novosibirsk N. Novgorod Moscow Samara Rostov-on-Don Yekaterinburg Vladivostok

  6. MICEX Group: structure of the volume of transactions

  7. MICEX: the currency market • Trading is held in five currencies: the US dollar, the Euro, the Ukrainian hrivna, the Kazakhstan tenge, the Byelorussian ruble • Settlements on the currency market are effected today and tomorrow • As a result of trading on the MICEX. the Russian Central Bank fixes the official exchange rate of the US dollar • The volume of transactions in 2006 has reached 955.9 bln USD, which is1.6 times more than in 2005 • The volume of transactions in January—March 2007 has reached 254.7 bln USD, which is1.4 times more than in January—March 2006

  8. MICEX: the federal bonds market • The MICEX organizes the primary placement and the secondary circulation of federal bonds, Bank Of Russia bonds (OBRs) • The volume of transactions in 2006 has reached 163.7 bln USD, which is 1.6 times more than in 2005 • The RGBI Index has decreased in 2006 by 0.6% to 117.25 points • The volume of transactions in January—March 2007 has reached 54.6 bln USD, which is 1.9 times more than in January—March 2006 • The RGBI Index has decreased in January—March 2007 by 0.3% to 116.86 points

  9. MICEX SE: the stock market • The MICEX Stock Exchange — the leading stock exchange in Russia • In 2006 the MICEX’s share in the Russian stock market turnover has reached 90% • The volume of transactions in 2006 has reached 754.9 bln USD, which is 3.3 times more than in 2005 • The volume of transactions in January—March 2007 has reached 626.2 bln USD, which is 1.9 times more than in January—March 2006

  10. MICEX SE: the stock market

  11. MICEX SE: the equities market • 288 equities of 190 issuers are traded on MICEX SE • 66 equities of 52 issuers listed on MICEX SE, including such companies as Gazprom, RAO UES, LUKoil, Rostelecom and Sberbank • The volume of transactions with equities in 2006 has reached 550.2 bln USD, which is 3.9 times more than in 2005 • The volume of transactions with equities in January—March 2007 has reached 219.3 bln USD, which is 2.7 times more than in January—March 2006 • The MICEX Index has reached 1698.08 points by the March 30, 2007(from the beginning of 2007 the increase is 0.3%)

  12. MICEX SE: the equities market capitalization • Equities market capitalization has grown 6.5 times during 2003—2006 • Equities market capitalization in January—March 2007 has increased by 2.6% to 908.1 bln USD • The most capitalized companies are: • Gazprom — 249.5 bln USD • Rosneft — 77.6 bln USD • Lukoil — 73.8 bln USD • Turnover velocity of the equities market in January—March 2007 was 65.1%, which is 18.1 percentage points more than in January—March 2006

  13. MICEX SE: the Internet-based trading • The development of the Internet-based trading has allowed: • to cover the all-Russia territory • to connect about 100 thousands minor private investors • The number of trades’ participants. using Internet in brokerage systems has grown to 365 since 2000 • Above 60% of daily turnover at the MICEX stock market is made with the use of Internet technologies

  14. MICEX: the derivatives market • September 2004 — largest Russian banks set up a pool of liquidity providers • Total trading volume in April 2006 — March 2007—41.4 bln USD • End-of-January open interest —2.71 bln USD • Record daily volume — 910.8 mln USD

  15. MICEX SE: listing requirements

  16. MICEX SE: development potential • The MICEX SE development potential is determined by the high growth rate of the stock market

  17. MICEX: leader among exchanges of the CIS and CEE • The capitalization of the Russian stock market is 100.5% of Russia’s GDPor 1.03 trillion USD (as of April 1, 2007) • The volume of trading in the Russian stock market is over 60% of the stock market of the countries of the CIS. Central and Eastern Europe

  18. MICEX Group: IT Infrastructure Wide-area telecom infrastructure (“MICEX Trading Network”) MICEX Trading Members connected via Trading Network MainComputer Center Back-upComputer Center Core Telecom Infrastructure Telecom Providers Market Information Dissemination Systems of Information Agencies Trading Halls Internet Access System Web-server Regional Access Centers Electronic Broker Systems Clients of Electronic Brokers Internet Clients receiving Market Information via Internet Electronic Broker Systems connected to Regional Centers Trading Members connected to regional Centers Trading Members connected via MICEX Internet Access Systems Clients of Electronic Brokers connected via Internet Clients of Electronic Brokers connected to Regional Centers

  19. Contacts • Address: • 13, B.Kislovskiy per., Moscow, 125009, Russia • Telephone: • +7 495 234-48-11 • Fax: • +7 495705-96-22 • E-mail: • info@micex.com • Web-server: • www.micex.com Prepared byInformation and Analysis Division of MICEX

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