Moscow Exchange Group manages Russia’s main trading platform for equities, bonds, derivatives, currencies, money market instruments and commodities.
The Group comprises:
- PJSC Moscow Exchange MICEX-RTS, which operates the Equity & Bond Market, FX & Money Market, Derivatives Market and Precious Metals Market;
- NCO CJSC National Settlement Depository (NSD), the central securities depository;
- JSC Non-Banking Credit Institution - Central Counterparty National Clearing Centre (CCP NCC, or NCC);
- JSC National Mercantile Exchange (NAMEX), which operates the Commodities Market; and
- MOEX Innovations, which develops innovative technologies and works with fintech start-ups.
Moscow Exchange holds majority stakes in all key subsidiaries, including a 100% stake in NCC a 99.997% stake in the NSD, and a 62% stake in the NAMEX.
Moscow Exchange was formed in December 2011 from a merger of Russia’s two main exchange groups: MICEX Group, the oldest domestic exchange and operator of the leading equities, bonds, foreign exchange and money markets in Russia; and RTS Group, which at that time operated Russia’s leading derivatives market. This combination created a vertically integrated exchange for trading of all major asset classes. In February 2013, Moscow Exchange completed an initial public offering on its own platform (ticker: MOEX). As of 31 December 2017, the company’s market capitalisation was RUB 248.7 billion, and the free float was 57.5%.