Micex acquires controlling stake in Nizhni Novgorod Currency and Stock Exchange

Source: Micex

Implementing its regional development strategy, the MICEX has increased its share in the capital of the Nizhni Novgorod Currency and Stock Exchange (NNCSE) by acquiring controlling interest in this regional exchange.

The general meeting of shareholders of the NNCSE, held on November 29, 2007, in Nizhni Novgorod, decided to amend the Charter and change the name of the Exchange. The new name of the subsidiary regional exchange is Regional Exchange Center "MICEX - Volga Region".

According to the MICEX President Alexander Potemkin, the Regional Exchange Center will continue to cooperate with the financial community of the Nizhni Novgorod Region.

This year, two regional branches of the MICEX have been re-branded. The Rostov Currency and Stock Exchange was turned into the Regional Exchange Centre "MICEX - South", while the Asian-Pacific Interbank Currency Exchange was turned into the Regional Exchange Centre "MICEX - Far East".

The main goals of the regional subsidiaries of the MICEX is transition from the model of regional currency exchanges representing the MICEX in selected areas of business to the model of full-fledged front office of the MICEX Group in corresponding Federal districts. Regional exchange centers emphasize interaction with regional issuers, participants in trading and investors, promote the entire range of financial instruments and services developed by the MICEX Group and conduct educational and training programs with the participation of the MICEX Group.

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