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Moscow Exchange Sells RTS Clearing House

02.04.2013 11:49 / Interfax

Moscow Exchange MICEX-RTS took a decision in March to sell off RTS Clearing House, according to the exchange’s IFRS consolidated financial report 2012.

The document states that a tender will be held to determine the buyer. RTS Clearing House is ready for immediate sale since March. “The Group intends to complete the sale by August 2013”, reads the document.

RTS Clearing House was part of the RTS Group acquisition package. It was founded in 1999 by the Professional Stock Market Participants Association (the predecessor of National Stock Market Participants Association). RTS Clearing House was primarily servicing RTS Group client accounts in the stock and derivatives market, RTS Board, RTS Money forex market.

Following the RTS Group acquisition, a decision was passed to integrate National Settlement Depositary (NSD) with RTS Clearing House and Depositary Clearing Company. All services were transferred to NSD in the process of integration.

An inside source told Interfax that today RTS Clearing House is merely a company with a Central Bank license, it does not perform any business operations.

According to the source, the stock exchange is currently in price negotiations with a potential buyer. “The buyer is from the energy sector”, said the source.

Also, the exchange financial reports state that stabilization agent VTB Capital bought 27 million 943.57 thousand shares of the Moscow Exchange (some 10% of the total float) over the 30-day stabilization period. “The shares were sold to the group for 1 billion 527.896 roubles”, says the report.

The Moscow Exchange IPO took place in mid-February, at 55 roubles per share and a total float of RUB 15 billion.

The stock exchange shares are currently traded at RUB 49 per share.

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