Moscow Interbank Currency Exchange
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| Type | Stock exchange |
|---|---|
| Location | Moscow, Russia |
| Founded | 1992 |
| Owner | MICEX Group |
| Key people | Ruben Aganbegyan (President) |
| Currency | Russian ruble |
| No. of listings | 239 |
| Market cap | US$721.5 billion (Aug 2010)[1] |
| Indices | MICEX Index |
| Website | www.micex.com |
The Moscow Interbank Currency Exchange (Russian: Московская межбанковская валютная биржа) or MICEX is one of the largest universal stock exchanges in the Russian Federation and East Europe. MICEX opened in 1992 and is the leading Russian stock exchange, there are about 239 Russian companies listed and a market capitalization of US$721.5 billion as of August 2010.
MICEX consists of about 550 participating organizations and members, which do trading for their clients. In 2006 the volume of transactions on the MICEX reached 20.38 trillion rubles (754.9 billion USD), representing more than 90% of the total turnover of the leading stock exchanges in the Russian stock market.
History
MICEX started with currency auctions in November 1989 as an initiative by the Foreign trade and investment bank of the USSR. Thus, for the first time the market ruble exchange rate to dollar was established. In January 1992 it became the main platform for carrying out currency transactions for banks and enterprises.
Since July 1992 the rate in the Moscow Interbank Stock Exchange is used by the Central Bank for the official quotation of ruble to foreign currencies.
In the mid 90's preparation for trading corporate securities and futures began. Despite the August crisis of 1998, the stock exchange continued to strengthen its position as a leading trading platform in Russia.
See also
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