Rival Russian Exchanges Micex, RTS to Merge
The Moscow Interbank Currency Exchange (Micex) and rival Russian Trading System (RTS) Stock Exchange have announced plans to merge into a "single powerful infrastructure and end the competition, which began with the launch of RTS in 1995,” according to officials from both exchanges.
The announcement comes two weeks after Russian president Dmitry Medvedev ordered the Central Bank of Russia to sell its 29.8 percent stake in Micex—the single condition believed to be standing in the way of a merger
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