"Undoubtedly, this event is important for the MIFC establishment. This is a work result within each of the two exchanges. I am sure, that a joint stock exchange will become one of the best in the world", said the Head of MIFC Taskforce in Russia Alexander Voloshin during the opening ceremony at the combined MICEX-RTS Stock Exchange.

As the Central Bank Deputy President Sergey Shvetsov informed, the stock exchange should become self-regulation and co-partnership center in financial market development, more than 50% of the success depends on regulatory environment and synergy of IFC and joint exchanges mutual development.

"It is impossible to build IFC without a joint stock exchange, and the joint stock exchange can`t be successful without legislative and business environment reform", he said.

The joint stock exchange MICEX-RTS President Ruben Aganbegyan expressed his gratitude to employees of the stock exchanges "for the things to be done".

"I liked Ruben`s words very much (Aganbegyan – Interfax note), that lots of work is ahead. It is important for us, that clients work conveniently at the stock exchange, trade at the derivatives and spot markets from the same account, without any disruptions. Now we need to work on technical infrastructure, software development - to create a really convenient and reliable stock exchange", said the Head of the Federal Financial Markets Service (FFMS) Dmitry Pankin.

Deputy Minister of Finance Alexey Savatyugin, who was against the merger, said at the ceremony that when he came to Moscow 11 years ago, he worked at RTS, and at that time the young team from St. Petersburg started working at the stock exchange in order to create the derivatives market, among them was the last RTS Head Roman Goryunov. "In order to help Roman Yurievich work conveniently, I even had to leave my girlfriend at that time", he recalled.

Alexey Savatyugin mentioned, that at that time juvenile ardour of the RTS employees was based on a challenge to the old state stock exchange MICEX, it was a healthy competition, then the exchanges started to specialize at the certain markets, and then the merger followed. "Thanks God, the merger is finally completed. And completed happily", he said and mentioned the stock exchange competition within Russia finished.

"The project success mainly depends on how the two leaders Ruben and Roman (Ruben Aganbegyan and Roman Goryunov - Interfax) will consider their likings and hobbies", Chairman of the Alor Group Anatoly Gavrilenko said at the ceremony. He presented a toy motorbike to Roman Goryunov and a football to Ruben Aganbegyan.

"Also, we understand how the market effectiveness depends on a teamwork, that`s why the market participants developed a training simulator", Anatoly Gavrilenko continued and presented to Ruben Aganbegyan and Roman Goryunov a pair of skis with two pairs of bindings. Also they`ve got the song of "Nautilus Pompilius" renamed to "Connected with the one chain" as a hymn of the joint stock exchange.

According to Anatoly Gavrilenko, the two exchanges competition disturbed market development in general. "Today the War of the Roses is finished", he said. Roman Goryunov got white roses "for market purity" and Ruben Aganbegyan - red roses "for the State".

"This is a historic day. A new page is now opened. I am sure it opens new opportunities for all of us. I think, the market participants have big hopes on the stock exchange merger. We will try not to disappoint you!", said Roman Goryunov, who is now the First Deputy Chairman of the MICEX-RTS Board.

Биржевая инфраструктура, Аганбегян Р.А., Волошин А.С., Горюнов Р.Ю., Панкин Д.В., Саватюгин А.Л., Швецов С.А.