FFMS allocates CJSC MICEX a stock market license
MOSCOW. Oct 21 (Interfax) - Russia's Federal Financial Markets Service (FFMS) has allocated a stock market license to CJSC Moscow Interbank Forex Exchange (MICEX) a stock market license, the regulator said in a press release.
The stock market license is necessary for the MICEX to merge with the RTS Index, which also has a stock market license.
The head of the project center for the integration of MICEX and RTS indexes, Mikhail Sukhobok, said that CJSC MICEX plans to reform as an open joint-stock company at the moment of the RTS Index's legal merger to the MICEX.
Sukhobok also said that the stock market will be concentrated at CJSC MICEX Stock Exchange on December 19 and the futures market at CJSC MICEX. He added that MICEX Stock Exchange will merge with CJSC MICEX in the second quarter of 2012.