What is the MICEX and RTS? Moscow stock exchange MICEX-RTS

About what the MICEX and RTS, know not only professional traders, but also ordinary people. Exchange trade has become a familiar part of everyday life, a stable topic of news tapes, it is discussed at the state level. But how is the Russian trading arranged? What factors influence the stock quotes? What was so special about trading in securities during the financial crisis? What are the principles of the work of stock exchanges and what are the features of the history of the Russian trading market?

What is a stock exchange?

Stock exchanges are organizations that are financial structures where owners of shares and other securities make numerous transactions for buying and selling. As a rule, this happens through intermediaries. The participants of the exchange are securities traders and various financial institutions. Trade follows the internal rules and regimes of the financial institution. A distinctive feature of the stock exchange from others - the commodity is only securities.

Their cost is formed due to the mechanisms of supply and demand, buying and selling takes place according to the regulations. Experts define several functions of stock exchanges. First, it is mediation, creation of conditions for purchase and sale of securities with the participation of issuers and investors. Secondly, it is an indicative function - an assessment of the price and attractiveness of shares. Thirdly, this regulation - in fact, the definition of rules and norms of trade. The history of trading in Russia knows the three largest exchange brands: the Moscow Stock Exchange, the MICEX, the RTS.

MICEX: from the Soviet sources to the present

MICEX (Moscow Interbank Currency Exchange) appeared in 1992. But it is worth noting that the first such financial institutions arose in Russia in the late 18th - early 19th centuries. During the Soviet era, the exchanges did not work. The MICEX originates from foreign exchange auctions, which were arranged by Vnesheconombank. In the second half of the 90s, futures trading, as well as corporate securities, began trading on the exchange. The active work of the MICEX continued even in the 1998 crisis .

In the 2000s, the volume of trading on the exchange began to amount to hundreds of billions of dollars. Here there were quotations of hundreds of companies. More than 200 of them have a total capitalization exceeding $ 300 billion. The shares on the MICEX are traded by the largest Russian companies: Gazprom, Lukoil, Rostelecom.

RTS: years of "independence" and merger with MICEX

For a long time, the MICEX co-existed with another exchange - the RTS, which was established in 1995. Immediately after the launch, she had a special index. For the Russian securities market, it has become one of the key. In 2000, the Moscow Stock Exchange RTS appeared, and on its basis - the FORTS market (known for options and futures). Since 2005, any interested person could trade in anonymous mode through the Internet. Online trading has become so popular that most Russian-speaking users of the network began to understand what the MICEX and RTS are, for which these structures are created.

In 2007, the financial solution RTS START appeared, where small and medium-sized enterprises were able to trade securities. Thus, the exchange turned into a financial instrument, the possibilities of which were useful to the widest audience: from ordinary citizens to any kind of business. In 2008, on the initiative of the RTS Moscow Exchange, the "Ukrainian Exchange" appeared. Thanks to this, Ukrainian citizens were able to trade shares through the Internet. In 2008, the RTS market saw the stock market in rubles, where the most liquid assets that were issued in Russia were traded. At the end of 2011, both financial organizations merged into OJSC "Moscow Stock Exchange". MICEX, RTS, their projects and decisions nevertheless played a major role in the development of the Russian stock market.

Factors determining the value of shares

The main indicator of the value of securities on exchanges is quotes. They are expressed more often in points or currency units. The factors that determine the quotes of the MICEX and RTS, in general, are based on market-specific laws that are specific to other exchanges. First of all, these are indices on other trading floors. The situation in the world has a very strong effect on Russian exchanges. Quotations reflect, as a rule, profitability of the company. The higher it is, the higher the points on the stock exchange. Another factor is the policy of the authorities both in the external arena and within the country. If things are not very good in relations with other states, this threatens investors' distrust and capital outflows.

Foreign traders have had a good time studying the Russian stock market. They know what the MICEX and RTS are, and also their successor in the person of the Moscow Stock Exchange. Therefore, having received a negative signal from the political arena, they can decide to withdraw capital from Russia. The quotes of shares of companies are affected by the publication of data on revenues and losses. Securities of successful businesses are bought better and grow in value. The most important factor, especially for Russia, is oil prices. When the crisis began to approach, many traders were surprised: "What is it?" MICEX and RTS, like, showed excellent results, but suddenly quotes collapsed at times. The case turned out to be in price for "black gold", which was as cheap as it was.

Interesting about MICEX

The MICEX, according to some analysts, is the largest stock exchange in Eastern Europe. Experts note that foreign investors are very sympathetic to this financial structure. The MICEX is trading shares, shares, bonds, deposit receipts. The exchange allows you to negotiate transactions, repurchase, anonymous purchase and sale. Here you can trade options and futures. Along with the RTS, MICEX actively developed Internet technologies during the formation of the market. Online stock exchange began to be introduced since 1999.

Interesting about RTS

RTS in the years of "independence" by many market experts was considered the largest electronic exchange in Russia. Among its remarkable properties is reliability. The technical center of RTS was created, designed to maximize the stability of the exchange. Some experts are sure that there are no analogues to the programs created by this structure in Russia.

Any exchange - RTS, MICEX, their foreign counterparts - has an infrastructure designed to provide a safe and stable connection between the issuer of securities and the investor.