Moscow on its way to becoming an international financial center Alexander Potemkin, President of the MICEX
MICEX and DB value chains Value Chain Deutsche Börse Group MICEX Group Trading and front-office • Deutsche Börse AG • Frankfurt Stock Exchange • Eurex Frankfurt AG • Eurex Zürich AG • MICEX Stock Exchange • MICEX Clearing • Clearstream International S. A. • Eurex Clearing AG • MICEX • National Clearing Centre (project) Settlement • Clearstream International S. A. • National Depository Center • MICEX Settlement House IT • Deutsche Börse Systems AG • MICEX • Berlin Stock Exchange • Düsseldorf Stock Exchange • Hamburg and Hannover Stock Exchange • Munich Stock Exchange • Stuttgart Stock Exchange • The MICEX Far East (Vladivostok) • The N. Novgorod Stock and Currency Exchange (N. Novgorod) • The Samara Currency Interbank Exchange (Samara) • The St. -Petersburg Currency Exchange (St. -Petersburg) • The Siberian Interbank Currency Exchange (Novosibirsk) • The MICEX South (Rostov-on-Don) • The Ural Regional Currency Exchange (Yekaterinburg) Regional Exchanges 2
Russian issuers on the world exchanges • The ADR/GDR’s traded on DB: · Gazprom · RAO UES · GMK Norilsk Nickel · LUKOIL · Sberbank · Rostelecom · Rosneft · Surgutneftegaz · VTB · MTS and others 3
MICEX in the world ranking Ranking of exchanges by daily average volume of trades with equities and bonds in January–October 2007* # Exchange 1 NYSE Group 2 Trade volume, mln USD Number of issuers of equities # Exchange Trade volume, mln USD Number of issuers of equities 116 246 2 279 13 Swiss Exchange 8 256 346 Nasdaq 60 280 3 075 14 Hong Kong Exchanges 8 236 1 220 3 London SE 59 043 3 287 15 TSX Group 6 640 3 926 4 BME Spanish Exchanges 36 490 3 512 16 Australian SE 5 528 1 942 5 Tokyo SE 26 479 2 413 17 MICEX Group** 4 497 202 6 Euronext 24 093 1 184 18 Taiwan SE Corp. 4 140 686 7 OMX Nordic Exchange 19 117 845 19 Istanbul SE 3 245 319 8 Deutsche Börse 18 898 859 20 National Stock Exchange India 2 967 1 307 9 Shanghai SE 17 373 856 21 Oslo Bors 2 686 246 10 Borsa Italiana 10 473 305 22 American SE 2 633 595 11 Korea Exchange 9 596 1 741 23 Colombia SE 2 318 94 12 Shenzhen SE 9 054 644 24 Sao Paulo SE 2 311 403 * Based on data from WFE and IAE CIS ** Incl. initial placements and REPO MICEX Group ranks #11 4
Internationalization of the Russian financial market 5
Internationalization of the Russian financial market Country Investment bank Austria Raiffeisenbank France BNP PARIBAS СOMMERZBANK Germany Dresdner Bank Deutsche Bank Switzerland The Netherlands Credit Suisse First Boston Bank UBS Securities ABN AMRO Bank ING BANK Citibank Goldman Sachs USA J. P. Morgan Bank International Merrill Lynch Morgan Stanley 6
Distribution of investors-nonresidents by countries Cyprus 1836 Great Britain 84 Germany France 221. 8 bn 34 4 Italy 2 Others 641 Total 2601 China USA Canada 46 5 Others 1 1 Total 71 Total 3 Gabon 324 2. 6 bn 19 Angola 0. 2 bn 278 Total 3 5 Others Ethiopia 5 Japan RSA 14 Korea Seychelles 22 India 27 0. 1 bn 122 Total number of clients-nonresidents Number of countries 3081 77 Australia Figures for investors are given for the end of September; turnover is given for 3 rd quarter of 2007 3 0. 0 bn 7
Ruble gains world recognition • Russia’s international reserves at November 23, 2007: $459. 6 bln — third largest after China and Japan • Currency liberalization — On July 1, 2006 the Bank of Russia fully liberalized cross-border capital flows • The share of cross-border trades in the ruble-US dollar currency market sector in September 2007 — 37. 2% • Volume of ruble-denominated Eurobonds placed in January–November 2007 — $4. 6 bln 8
Factors of Competitiveness of International Financial Centers Factor Average Score 1 Availability of Skilled Personnel 5. 37 2 Regulatory Environment 5. 16 3 Access to International Financial Markets 5. 08 4 Availability of Business Infrastructure 5. 01 5 Access to Customers 4. 90 6 A Fair and Just Business Environment 4. 67 7 Government Responsiveness 4. 61 8 Corporate Tax Regime 4. 47 9 Operational Costs 4. 38 10 Access to Suppliers of Professional Services 4. 33 11 Quality of Life 4. 30 12 Cultural & Language 4. 28 13 Quality / Availability of Commercial Property 4. 04 14 Personal Tax Regime 3. 89 Based on data from “The Corporation of London” 9
Creating IFC in Moscow • • Investments Taxes Employment Image • • • Concentration of offices Transportation infrastructure Safety Stable energy supply Modern communications 10
International financial centers NYSE DB LSE Euronext Moscow TSE HKEx SGX 11
Contacts • www. micex. com • info@micex. com • +7 495 234 -48 -11 • 13, Bolshoi Kislovskiy pereulok, Moscow, 125009, Russia 12
Скачать презентацию Moscow on its way to becoming an international
6dc73a6df5dbe3bff3662dfaa96a257e.ppt