Foreign companies may be able to list on Russia's stock exchanges before 2015 if a new strategy outlined by MICEX-RTS is realized, Gazeta.ru reported.
At present, legislation permits only Russian companies to trade on Moscow's bourses. The entrance of foreign firms is part of the push to turn Moscow into an international financial center.
The goal is one of many outlined under a development plan for the newly merged exchanges that also suggested that T+3 trading be introduced toward the end of this year, giving traders three days to settle after buying or selling, thus allowing them to trade assets they do not physically own. It is used on the majority of the world's major bourses. An additional trading session between 7 and 11:50 p.m. may also be introduced.
(MT)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
