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Depositaries Enter Market

International central depositaries Clearstream and Euroclear will be granted access to the Russian state bond market this year and the country's corporate bond and stock market in 2013, Pyotr Kazakevich, deputy director of the Finance Ministry's state debt and financial asset department, said at a conference, Interfax reported Thursday.

Kazakevich said allowing foreign players into the market might cause a slight outflow of liquidity from Russia, but this would be covered with large inflow.

He said foreign speculators are now present in the Russian markets and "are exploiting imperfections in the infrastructure." "If we ensure a basic and comfortable market, we will attract conservative long-term investors, and we won't see an extreme increase in market volatility," Kazakevich said.

(MT)

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