About a unified index family of the Moscow Exchange

Current MICEX and RTS’s index families

Historically, the MICEX and RTS stock exchanges determined their own equity index families, the MICEX indices and RTS indices. An index is in essence a number of figures calculated based on changes in prices of specific securities (index constituents). The most distinct differences between these two index families were approaches for the constituent lists determination as well as currencies in which the share price were denominated. The MICEX indices were always denominated in the national currency, and the RTS Indices — in US dollars. However, both main indices of two families, the MICEX Index and the RTS Index, have become the benchmarks for the Russian stock market.

In addition to the main indicator, capitalization, thematic and sectoral indices were calculated in each index family. Methodologies for calculating such indices also differed. Since the merger of the stock exchanges in December 2011 creation of a unified index family of the integrated exchange has become urgent.