MOSCOW, November 8 (Itar-Tass) — The Russian stock market opened with the RTS index 0.38-percent decline to 1557.26 points, according to data from the exchange. At the same time trading on the stock market of the Moscow Interbank Currency Exchange (MICEX) was suspended indefinitely.
The MICEX press service so far has no information why and for how long the trading is suspended. “Official information will be posted on the exchange website,” a MICEX representative said.
The index decline occurs against the background of correction of futures for US indices, as well as multidirectional trading on the Asian stock exchanges.
Trading on the MICEX currency section commenced with weakening of the rouble. The dual currency basket during the first few minutes went up by 9 kopecks to the mark of 35.7034 roubles.
The Russian Trading System is a stock market established in 1995 in Moscow, consolidating various regional trading floors into one exchange. Originally RTS was modelled on NASDAQ’s trading and settlement software; in 1998 the exchange went on line with its own in-house system. Initially created as a non-profit organisation, at the moment RTS is in the process of reorganisation: it is being transformed into a joint-stock company. RTS data is distributed worldwide through major financial information vendors such as Reuters. Russia’s stock market surged 686 percent from 2001 through 2005 - and another 66 percent in 2006. The RTS Stock Exchange markets are open from 10:00 till 23:50 Moscow time (GMT+3).
The Moscow Interbank Currency Exchange or MICEX is one of the largest universal stock exchanges in the Russian Federation and East Europe. MICEX opened in 1992 and is the leading Russian stock exchange. About 239 Russian companies are listed, with a market capitalisation of US$950 billion as of December 2010. MICEX consists of about 550 participating organisations and members, which trade for their clients. In 2006 the volume of transactions on the MICEX reached 20.38 trillion roubles (US$754.9 billion), representing more than 90 percent of the total turnover of the leading stock exchanges in the Russian stock market.