Moscow Interbank Currency Exchange
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| Moscow Interbank Currency Exchange | |
 |
|
| Traded securities and tools | |
| shares | |
| bonds | |
| foreign currencies | |
| futures | |
| eurobonds | |
| Currency = ruble | |
| Capitalization of the share market | |
| 753.6 billion USD (October 2006) | |
| The Largest companies by market capitalization: | |
| Gazprom 255.6 billion USD | |
| Rosneft 72.5 billion USD | |
| Lukoil 64.8 billion USD | |
| Volume of the shares = 14.9 trillion | |
The Moscow Interbank Currency Exchange 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, consisting of shares and corporate bonds about 600 Russian companies with a total capitalization of nearly 24 trillion Rubles.
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.
[edit] 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 become by the main platform for carrying out currency transactions for banks and enterprises.
Until July 1992 the rate in the Moscow Interbank Stock Exchange was 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 of Russia.
