10.01.2022 15:48

Moscow Exchange celebrates 30th anniversary

In 2022, the Moscow Exchange Group celebrates its 30th anniversary. Moscow Interbank Currency Exchange (MICEX) was established in 1992, which was later transformed into Moscow Exchange.

Today, Moscow Exchange is:

  • Russia's largest exchange for trading of equities, bonds, derivatives, currencies, money market instruments, precious metals and commodities:
    • Annual trading volume: RUB 1 quadrillion
    • 6,000 instruments
    • 17 million private investors, or more than 10% of Russia’s population
    • Most markets are open 17 hours a day
  • the primary platform for the state and businesses to raise capital:
    • RUB 45 trillion worth of government securities placed
    • companies have attracted RUB 35 trillion to develop their businesses

Mikhail Mishustin, Prime Minister of the Russian Federation, said in a congratulatory letter:

"Over these decades, Moscow Exchange has become a leader in securities trading in Russia and one of the largest exchanges in Russia and Eastern Europe. Today, the holding combines National Settlement Depository, National Clearing Centre, National Mercantile Exchange and MOEX Innovations, as well as facilitating international investment into the Russian economy. Moscow Exchange provides Russian and international financial organizations and investors with high-tech services and facilities. It is noteworthy that Moscow Exchange puts an emphasis on green finance, promotes sustainable business principles among corporate issuers and makes great efforts to improve the financial and investment literacy of our citizens."

Yury Denisov, MOEX Chief Executive Officer, said:

"The history of Moscow Exchange is the history of the Russian financial market. Today, Moscow Exchange is a trading platform for a wide range of financial products. We are actively developing and have already become more than an exchange. We offer OTC services, create platforms that connect financial companies and clients, as well as open up new opportunities for investors, corporations and banks. Millions of Russian and international clients see Moscow Exchange as the starting point to invest, so introducing cutting-edge services, creating new markets and new products within the most robust infrastructure is our priority today and in the future. We are grateful to everyone who has helped develop the exchange infrastructure over all these years – clients, partners, employees, issuers, shareholders, regulators and the professional community. The achievements of Moscow Exchange are our joint efforts and successes."

Major milestones in the history of Moscow Exchange

1992 - The Bank of Russia began to set the official exchange rate for the Rouble based on the exchange’s data.

1993 - The start of auctions and trading of government short-term bonds (GKOs).

1995 - Start of equity trading.

1996 - Start of trading in futures contracts.

1997 - First trading of sub-federal bonds.

1999 - Introduction of online on-exchange trading.

1999 – Establishment of an on-exchange corporate bond market.

2002 - Establishment of National Mercantile Exchange.

2003 - Start of trading in mutual funds.

2007 - Introduction of the central counterparty (CCP) to the FX Market.

2009 - Became full member of the World Federation of Exchanges.

2011 - The merger of MICEX and RTS.

2012 – Designation of National Settlement Depository (NSD) as Russia’s central securities depository.

2012 - Brokerage companies became participants of the FX Market on an equal footing with banks.

2013 - Moscow Exchange held its IPO on its own platform (the company's market capitalization is now RUB 340 billion).

2013 - the Equity Market switched to T+2 technology without full collateral required.

2013 - Start of trading in precious metals.

2013 - Launch of repo transactions with the CCP.

2015 - Individuals began to open individual investment accounts on the exchange.

2016 - Start of trading in ETFs.

2016 - Launch of repo transactions in general collateral certificates (GCCs).

2017 - Implementation of the Unified Collateral Pool project: cross margining between markets and netting of settlement payments.

2017 - Direct access granted to the FX and Money Markets for large Russian corporations

2018 - Development of OTC services on the exchange's markets: launching the OTC debt market system, OTC derivatives market platform, providing access to global FX liquidity.

2018 - Start of trading in Russian-law ETFs.

2019 - Establishment of the Sustainability Sector to finance environmental and socially responsible projects.

2019 - Moscow Exchange joined the UN’s Sustainable Stock Exchanges initiative.

2020 - Moscow Exchange launched a personal finance platform Finuslugi.

2020 - International shares were introduced to expand clients' opportunities to invest in global markets.

2021 - Trading hours on the Equity, FX, Precious Metals and Derivatives Markets increased to 17 hours a day.

2021 - Launch of the Investor's Way training course, which has already been taken by one million people. The course was the first to be accredited by the Financial Literacy Development Association (FDDA).

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