17 May 2005 13:55

NAUFOR thanks Interfax for contributing to transparency of stock market

NAUFOR, the national stock market participants‘ association, has acknowledged the contribution Interfax Group has made to increasing the transparency of the Russian stock market and thanked it for putting its system for disclosing material events about issuers (www.e-disclosure.ru) in place during the association‘s fifth annual Stock Market Elite ceremony on May 17.

The national jury board of NAUFOR‘s annual contests is composed of authoritative members of Russia‘s stock market, whose professional activities are is directly related to the domestic securities market and significantly determines the direction of its development.
"We have made every effort to turn this system - set up following a decision by the Federal Securities Commission, later the Federal Financial Markets Service - into a means of real support for decision-making on the stock market, and therefore this acknowledgement is very important to us," said Dmitry Olenkov, deputy general director of Interfax Corporate News Agency (Interfax-CNA).
"News about issuer companies has actually now become available in real time through a unified news resource free for all investors," Olenkov said.
Nearly 5,500 companies have disclosed information about material events on Interfax‘s disclosure site at www.e-disclosure.ru. The site publishes some 250 items daily about the results of board and shareholder meetings, the issues of securities, the payment of dividends, and other corporate events.
The stock regulator introduced the mandatory requirement of disclosing significant events for issuer companies on the newswires of authorized news agencies, Interfax being one of them, in October 2003. Experts estimate that 95% of Russian issuers fulfill the requirement. All reports on significant facts are accessible without any restrictions on www.e-disclosure.ru and are transmitted to MICEX and RTS trading floors and to the systems of Internet brokers.
Interfax‘s disclosure system won the International Financial Olympus award in February this year.
NAUFOR has conducted annual Stock Market Elite contests since 2000 to attract public attention to Russia‘s stock market, support and promote professional securities market players, and encourage the further improvement of professionalism on the stock market. The list of NAUFOR award categories embraces all the principal ‘professions‘ represented on the contemporary stock market and the most prominent events reflecting the mainstream trends and priorities of its development.