Moscow Interbank Currency Exchange (MICEX) was founded in 1992.There conduct daily trading in shares and bonds of 600 Russian companies, including OAO "Gazprom", "Lukoil", Sberbank, OAO "Tatneft" and others. The total value of assets - 24 trillion rubles.Interbank Currency Exchange includes 550 professional participants of the securities market.They serve 280 thousand. Investors.About that, what the Interbank Currency Exchange, you will learn from this article.
history of
In November 1989, Vnesheconombank of the USSR conducted currency auctions.They was first fixed exchange rate to the dollar.After creating all the MICEX currency trading between enterprises and banks were carried out on this site.In July of the same year its rate used by the Central Bank for the quotes of the ruble against foreign currencies.Here for the first time it was held auctions of T-bills.In the mid-90s began preparations for transactions with corporate securities and futures.In August 2006 on the MICEX trading accounted for 95% of Russian companies and 69% of the global volume.The volume of transactions reached 20.4 trillion rubles.Gradually, the MICEX network of partners spread throughout the territory of the Russian Federation.One of them is the Siberian Interbank Currency Exchange.In January 2015, DHS was nationalized in the ARC.
priorities of the organization:
• implementation of trading;
• determining the course of monetary units;
• ensuring the turnover capital of the country;
• the formation of a major financial center;
• creation of a competitive market.
main functions:
• Organization and carrying out of trading.
• Monitoring of compliance.
• Provide informative, settlement, clearing and other services.
Directions
MICEX electronic trading are the US dollar, euro, UAH, KZT, the Belarusian ruble swaps.Operating risk management system, which ensures the timely fulfillment of obligations.One of its principles, sounds like "payment versus payment": Interbank Currency Exchange settles with a participant only after it fulfills its obligations.
Transactions are made electronically on modern depository system, which is connected to the platform and terminals.All payments are made through the Clearing House Interbank Currency Exchange and on the Central Bank - through the Depository Center.
In 2006 - with the expansion of the customer base - the index rose by 68%.The exchange started trading shares of mutual funds, stimulating their development.An additional impetus was the accession process of the Institute specialists in clearing services.
Moscow Interbank Currency Exchange - institution where passes initial placement of securities.It has long been a leader in the number and volume of corporate bonds.Since 2006, the MICEX investors began to place shares.The first clients are Rosneft, OGK-5, Severstal and others. At the same time began to operate sector innovation companies.His goal - to create conditions for efficient investment.To improve the quality of service on the stock exchange have been created listing agency.
government securities and money market
Interbank Currency Exchange - nationwide system of trading government securities.Market participants have access to all the tools: GKO, OFZ, OBR, and others. They can use the full range of operations: primary, secondary placement, the conclusion, the execution of transactions.To date, the GS has more than 280 dealers.The share of this market segment is greater than 17%.In order to effectively invest temporarily free funds, Moscow Interbank Currency Exchange provides a number of tools for the analysis of the market: publish indicators, zero-coupon yield curve.CBR uses this system for deposit and lending operations.The list was extended to include transactions "on demand".
Derivatives Market
Its share exceeds 97%.Trading on the interbank currency exchange futures contracts began in 2006.In order to ensure the execution of transactions was formed reserve and guarantee funds in the volume of 250 million rubles, expanded the range of derivatives introduction portfolio SPAN.In this market, sell futures on interest rates, which the National Foreign Exchange Association and the International Association Swaps (ISDA) is used as the data rate of the ruble.In this segment, there are market makers who support bilateral quotations and liquidity.The total number of professional members of the section - 190 organizations, and the number of participants - 130 credit and financial services companies.
International cooperation in the context of globalization Interbank Currency Exchange Russian razrabatyvet strategy of integration into the world market.The number of foreign participants, the share of transactions of non-resident investors is 20%.The organization cooperates with the NYSE, NASDAQ, Chicago, London, German, Vienna and other similar structures.With many memorandums.Since 2002, the MICEX uchuvstvuet the World Federation of Exchanges.In 2007, the level of participation has been promoted to an affiliate.
Sector of innovative and growing companies
Since June 2006, appeared on the MICEX IGC Sector.It allows the company to market with a small market capitalization.These must meet the requirements of the Central Bank liquidity.To get into the sector, the pace of revenue growth to exceed 20% per year.
Interbank Currency Exchange: currency exchange rates
One of the activities of the organization - trade money signs from different countries.Most of the courses is formed here.They show the state of the Russian economy.Although the name sounds the word "currency", for years the scope of activity of the exchange greatly expanded.MICEX has more than 10 years, provides access to trading over the Internet.
Until 1998, purchase and sale of currency units of different countries of the world took place in the form of auctions.Seller implemented dollars, marks, pounds and francs for the national currency through competitive bidding.Now they go online via SELT on 8 floors.On the basis of these transactions generated a course Interbank Currency Exchange.With an increase in trading volumes appeared risk management system "payment versus payment".
stock market
It is the largest marketplace on which the securities are sold.98% of transactions the domestic stock market held here.The turnover is more than 1500 different CB.The total capitalization of the issuer is 29 trillion rubles.
In the stock market the company is the primary placement of securities in order to attract additional investment.Young and promising people who come up with interesting and useful project may try to place it on the stock exchange MII.At the moment this is the only real way to attract funds from all interested parties in the idea.Legal status of the company to be identified as of and capitalization should be at least 50 million rubles.A large number of companies and wealthy individuals are willing to invest in interesting projects.And they look for ideas is in MII.Young companies may be interested in the prospects of the large growth.A similar organization in the United States called the NASDAQ.It traded: Apple, Microsoft, Amazon.com, Google, Dell, Intel, and others.
Development Indicators
should also mention the MICEX index.He shows how to change the price of the Central Bank of 30 liquid Russian companies "LUKOIL", "Gazprom", Sberbank, Rosneft, MTS, VTB, "Aeroflot" and others. The exchange index shows overall market.When companies operate in profit, the investors buy their shares, that is, the index grows.The family of indices includes the exchange of domestic branch 8, three and two composite capitalization.For the calculated municipal bonds (MICEX MBI) and corporate (MICEX CBI).
Suppose an individual has decided to temporarily idle funds invest in stocks, but after a while - check their value.Central Bank bought 3 of 5 companies rose, and the remaining two - fell.But if you sell them all, the investor will still be in profit.The total yield will be, for example, 20%.This is an indicator that indicates the status of the market.MICEX trades are 280 dealers.
The stock market can also issue bonds.In 2013, 400 issuers carried out 700 issues of a total value of 4 trillion rubles.For comparison: in 2010, there were 66 companies that sold bonds totaling 965 billion rubles.Not last role in increasing the volume of played infrastructure.The stock market participants may enter into transactions with the placement and treatment, and qualified investors - to conduct repo.
Clearing and Depository Services
These operations are performed "Clearing House".Non-cash transactions are carried out through the website Interbank Currency Exchange.Clearing House - the first specific organization in Russia.It is the leader in terms of turnover and assets held in custody.Customers transmit them to the Central Bank, the depositary performs all operations and calculations.
Summary
Moscow Interbank Currency Exchange - the largest structure in Russia, which provides information, depository services, electronic trading, clearing and settlement of transactions carries.All units MICEX serve about one and a half thousand participants of the market - the largest banks and brokerage firms.The main objective of the exchange is the development of market mechanisms to determine the exchange rate and efficient placement of temporarily available funds.
