MIFC: Key Facts

A source of basic facts about the International Financial Centre in Moscow

Task Assignments

06.12.2011 / Moscow

Task Assignments given by the President of the Russian Federation following the MIFC International Advisory Board session
on 28 October 2011.

Events Calendar

May 2019

Media Coverage

29.01.2014 / Interfax

Russia #3 Worldwide in Foreign Direct Investment

FDI in developing and transitional economies hit record highs in 2013, according to United Nations Conference on Trade and Development (UNCTAD) report.

06.04.2013 / Kommersant

Central Bank Builds Financial Center

FFMS merger with the CB will significantly improve regulation – as expected by reform participants and instigators alike. Yesterday the Bank of Russia, FFMS and Minfin reps made a public presentation of the financial megaregulator, as the process has entered implementation stage. In the meantime, MIFC mastermind Alexander Voloshin sees the future unification of oversight as a key milestone for Moscow as International Financial Center.

29.01.2013 / Interfax

MIFC Location to be Determined by Workgroup

Russian Prime Minister Dmitry Medvedev is planning to establish a workgroup to determine the location of Moscow International Financial Center (MIFC) infrastructure.

Our progress / Hot Topics

Trading infrastructure

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Moscow Exchange Worth $3,96-4,4bn on RTS Board

24.07.2012 13:21 / Interfax

The capitalization of MICEX-RTS Moscow Exchange according to RTS Board indicative quotes is $3,955-4,395bn.

As of 12:15 Moscow time there were no trades in this security, with bids at $1,8 and offers at $2 per share. Moscow Exchange charter capital amounts to 2 billion 197 million 409 thousand and 846 shares.

A market source told Interfax that at 13:00 Moscow time RTS Board showed Moscow Exchange quotes from four brokers. Troika Dialog sells the integrated exchange shares at $2,000 (RUB 62,7520), buys at $1,800 (RUB 56,4768), Prospect - $2,050/$1,770 (RUB 64,3208/RUB 55,5355), Olma - $2,000/$1,755 (RUB 62,7520/RUB 55,0649), Renaissance Capital - $2,100/$1,750 (RUB 65,8896/RUB 54,9080).

As reported earlier, Moscow Exchange shares are listed on RTS Partnership’s RTS Board from 24 July, with initial quotes coming from Olma.

“We welcome the initiative, since RTS Partnership is also a minority shareholder of the stock exchange and is interested in indicative quotes for these shares. If the trend is positive, we will join the trading”, RTS Partnership Managing Director Maxim Volkov told Interfax on Monday.

RTS Partnership owns 0,9% of Moscow Exchange shares.

“Ahead of the Moscow Exchange IPO, the market needs an indicative price. We see bidders and sellers for the exchange shares”, said Olma General Director Andrei Belinsky.

Belinsky declined to name the exact Olma quotes for Moscow Exchange shares. “We will probably set a wide corridor between bid and offer at first”, he said.

On June 20, Cartesian Capital Group private equity fund and Russian Direct Investment Fund (RDIF) announced their acquisition of stakes in the MICEX-RTS Moscow Exchange from ZAO Unicredit Bank (Russia). Following this transaction, RDIF will own 2,7% and Cartesian will own 2,5% of MICEX-RTS. UniCredit Bank will reduce its stake in the exchange to 6,2%.

Vedomosti reported in late June that Renaissance Capital has sold off some 2% of MICEX-RTS shares to Ilmarinen, a Finnish pension fund.

RTS Board is an information system of indicative quotations for securities which are not admitted to trading on RTS Stock Exchange. RTS Board securities quotes are not recognized by the regulator as market quotes, and cannot be used for calculating market prices and market capitalization of the issuer. RTS board quotes are used for indicative price calculation of non-traded securities for tax purposes.

Following the MICEX-RTS integration, RTS Board remains property of RTS Partnership.

According to the presentation made by new Head of RTS Partnership Roman Goryunov at the annual partners meeting on 9 July, one of the six priorities of the partnership is development of OTC financial instruments market, including RTS Board.

Indicative quotes for MICEX-RTS Moscow Exchange could serve as benchmark for investors at the IPO planned for 1H 2013. The exchange expects to float $1bn worth of shares based on $6bn capitalization.

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