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Russian stock market’s SWOT analysis : Moscow’s viewpoint

Russian stock market’s SWOT analysis : Moscow’s viewpoint. A. Potemkin MICEX, President. What makes the Russian stock market grow ?. What makes the exchanges’ market grow ?. Issuers : stale bread or hot cakes ?. Second tier equities — « goods in stock ».

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Russian stock market’s SWOT analysis : Moscow’s viewpoint

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  1. Russian stock market’s SWOT analysis: Moscow’s viewpoint A. Potemkin MICEX, President

  2. What makes the Russian stock market grow?

  3. What makes the exchanges’ market grow?

  4. Issuers: stale bread orhot cakes?

  5. Second tier equities — «goods in stock» • For what purposes do you recommend to buy the second tier equities? • As long term investments with a positive outlook — 90% • How fair are the market prices of the second tier equities? • The market prices are lower than fair prices — 75% Based on the MICEX April 2007 survey, respondents are analysts of investment companies and banks

  6. Last 15 Months — Post IPO • source: Tracey Pierce, Head of Global Business Development at the London Stock Exchange

  7. Coming soon …

  8. Investors in the Russian market: who are they? Clients of mutual funds 7.0% Dealers trades 14.2% Non-residents27.7% Russian individuals23.8% Russian legal entities27.3%

  9. Does the foreign capital have a citizenship? Investors-non-residents on the MICEX SE in 1Q 2007Turnover inmln USD and number of participants

  10. How many indices doesthe Russian stock market need? Market in 2006 RTS DJ Titans Russia… MICEX Index MSCI Russia RTX FTSE Russia IOB Index DAXglobal Russia 10

  11. Structure of trades by economy sectors

  12. Equities admitted to trading on the exchange Reserve list selection criteria Тор-100: 100 most capitalized equities Тор-60: 60 most traded equities 30 equities in current index not more than 3 equities from an economy sector (not more than 9 equities from a sector including current portfolio) free-float > 5% common or privileged equities of an issuer if an issuer has equities of any type in an index portfolio, the equities of another type are not included Selection criteria Reserve list (10 sectors)

  13. Index portfolio startingApril 15, 2007 Index portfolio till 15 April (21 equities) Current index portfolio (30 equities)

  14. Index family structure MICEX Index 10 Large Caps MICEX O&G MICEX TLC 30 Middle Caps MICEX PWR 50 Small Caps Consumer Metals & Mining Manufacturing

  15. Infrastructure development prospects:what should be done first? Central Depository • Promotes OTC development • Creates customary environment for non-residents • Offers securities owners’ rights protection • Increases stock market transparency ? Centralized clearing (CCP) • Lowers the participants costs • Increases stock market liquidity • Creates customary environment for non-residents

  16. Contacts • www.micex.ru • info@micex.com • +7 495 234-48-11 • 13, B. Kislovskiy per., Moscow, 125009, Russia

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