About Moscow Exchange
Moscow Exchange was formed in December 2011 from a merger of Russia’s two main exchange groups: MICEX Group, the oldest domestic exchange and operator of the leading equities, bonds, foreign exchange and money markets in Russia; and RTS Group, which at that time operated Russia’s leading derivatives market. This combination created a vertically integrated exchange for trading of all major asset classes. In February 2013, Moscow Exchange completed an initial public offering on its own platform (ticker: MOEX). As of 31 December 2019, the company’s market capitalization was RUB 245.28 billion, and the free float was 57.6%.
Moscow Exchange was formed in December 2011 from a merger of Russia’s two main exchange groups: MICEX Group, the oldest domestic exchange and operator of the leading equities, bonds, foreign exchange and money markets in Russia; and RTS Group, which at that time operated Russia’s leading derivatives market. This combination created a vertically integrated exchange for trading of all major asset classes. In February 2013, Moscow Exchange completed an initial public offering on its own platform (ticker: MOEX). As of 31 December 2019, the company’s market capitalization was RUB 245.28 billion, and the free float was 57.6%.
Strategic Report
We can already state that Moscow Exchange has implemented the key elements of its Strategy 2020 and achieved the financial and operational targets included in that strategy.
Oleg Viyugin, Chairman of the Supervisory Board
Performance Review
In 2019, Moscow Exchange actively developed its business across all major lines and with all clients. A record 1.9 million individuals joined the Exchange in 2019, nearly as many newcomers as in all previous years combined. We consolidated our position as the leading marketplace for Russian companies to raise capital: in 2019, Russian corporates raised RUB 3.6 mln via securities offerings on MOEX. The Exchange continues to roll out new products and services, which strengthened relationships with existing clients and expanded our client base by adding new categories of investors.
Igor Marich, Managing Director
Corporate Governance
Over its seven years as a public company, Moscow Exchange has become one of the leaders in corporate governance in Russia. The Supervisory Board and the management team have made great efforts to introduce best corporate governance practices and have achieved impressive results. I am confident that this will serve as a solid basis for the successful development of the company going forward.
Mikhail Bratanov, Member of the Supervisory Board, Independent Director
Consolidated Financial Statements
Moscow Exchange is continuing to execute on its strategy to increase fee and commission income while controlling growth of operating expenses. This has allowed us to improve the operating leverage and grow cash flow. Under the new dividend policy, the Group will pay out its entire free cash flow to shareholders.
Max Lapin, Chief Financial Officer
