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Foreign Companies Listing

Foreign companies may be able to list on Russia's stock exchanges before 2015 if a new strategy outlined by MICEX-RTS is realized, Gazeta.ru reported.

At present, legislation permits only Russian companies to trade on Moscow's bourses. The entrance of foreign firms is part of the push to turn Moscow into an international financial center.

The goal is one of many outlined under a development plan for the newly merged exchanges that also suggested that T+3 trading be introduced toward the end of this year, giving traders three days to settle after buying or selling, thus allowing them to trade assets they do not physically own. It is used on the majority of the world's major bourses. An additional trading session between 7 and 11:50 p.m. may also be introduced.

(MT)

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