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26 Jul, 2007 04:29

New chair on Russian stock exchange - bullish about the future

The Russian stock exchange has got a new chairman and now wants to trade its shares on its own bourse in order to boost its capitalization.

It is one of the pet projects of the new Chairman, Roman Goryunov, who was elected to the post on Wednesday.

The capitalization of the RTS reached $US100 MLN last year. To grow further, its chairman says the exchange must expand its product portfolio and enter new markets – especially in the CIS.

The RTS exchange is buying a 60% stake in Ukrainian bourse Innex and is ready for further acquisitions in the region.

The exchange also wants to develop its trading of equity and commodity futures in addition to attracting new listings.

“We launched our project called RTS Start, aiming to increase the number of issuers on the Russian market. The volume of stocks we have now is not enough to call the Russian market a developed one. Commodities are also a priority.  We have already launched oil and sugar futures and want to diversify into others,”  Roman Goryunov announced.