The Central Bank and Russia’s largest commercial banks established the Moscow Interbank Currency Exchange (MICEX) on 9 January 1992.
In May, the exchange began running auctions and trading on the secondary GKO (short term government bond) market.
In July, trading was launched on the Russian Trading System’s (RTS) Classica market. On 1 September, the USD denominated RTS Index began being calculated.
In September, MICEX launched trading in USD and GKO futures. The contracts immediately became very popular on the Russian market.
In January, MICEX and Central Bank established the National Depository Center (NDC) to ensure settlement in securities on the exchange-based stock market.
In September, the aggregated MICEX equity index, the main RUB denominated Russian market benchmark, was launched. It initially included the five most liquid stocks.
Debut corporate bond placements were made on MICEX, with Gazprom and Tyumen Oil Company being the first issuers.
In January 2006, MICEX launched trading in shares of Gazprom, Russia’s largest company. Since then, Gazprom shares have been one of the most liquid security on Russia’s stock market.
MICEX became the first Russian exchange to receive full member status of the Word Federation of Exchanges.
MICEX and RTS, Russia’s two largest stock exchanges, merged. The unified exchange was named MICEX RTS, then Moscow Exchange.
In November, the Russian regulator granted central securities depository status to the NSD to allow centralized record keeping for securities.
On 15 February, Moscow Exchange completed its own IPO, raising RUB 15 bln.
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