3,500 Companies join Interfax disclosure system
Over 3,500 companies have joined the information disclosure system established by authorized agencies pursuant to new requirements of the Russian Federal Securities‘ Commission in the six months since the system‘s launch.The number of issuers‘ disclosures published on the agencies‘ newswires rose from 70 a day in December 2003 to 130 in March 2004. The total number of reports disseminated by the agencies in six months exceeded 10,000.
Company disclosures are being disseminated among Interfax subscribers, all traders on Russia‘s leading trading floors - MICEX and RTS - and circulated through the trading systems of Internet brokers. They are also openly available on www.e-disclosure.ru.
"The average number of visits to the freely accessible Interfax headline newswire grew by over a quarter in March and almost 70% compared to the beginning of the year demonstrating the continuing landslide growth of interest in corporate information," said Dmitri Olenkov, head of the project and deputy general director of Interfax-AKI.
The regulations on information disclosure by securities issuers approved by the Federal Securities‘ Commission resolution N.03-32/ps on October 13, 2003 require that major facts about securities issues be reported on newswires.
Interfax and AK&M won an open contest held by the Federal Securities‘ Commission to select an institution for publishing securities information.
Interfax group is a leading supplier of news, analysis, market data and rating services to the Russian financial market.