OREANDA-NEWS. January 13, 2010. In 2009, the MICEX Stock Exchange confirmed its position as the center of price formation for securities of Russian companies. The total volume of transactions on the MICEX Stock Exchange amounted to 40.66 trillion rubles (USD 1304 billion). In the total volume of trading in the secondary market for stocks and depository receipts for shares in Russian companies, the proportion of the MICEX Stock Exchange increased to 70% (in 2008: 63%).

The MICEX Index, the main indicator of Russia’s stock market, is comprised of 30 stocks of leading Russian issuers representing the main sectors of Russia’s economy. In 2009 it grew by 121% to 1370 points (on 31.12.2009).

In 2009 the volume of on-exchange secondary trading in securities increased by 11% against 2008 and reached 17.36 trillion rubles. The number of transactions also increased, indicating that market liquidity remained unchanged. In the second half of the year the decline, caused by the crisis, was reversed, which led to a considerable increase in the liquidity of the on-exchange market and the capitalization of Russian issuers. In June, the MICEX Stock Exchange registered a record-high volume of transactions in shares (secondary trading without negotiated deals) that amounted to 1.52 trillion rubles a month. This is a historical record for the market. In that month, a record-high number of transactions in shares were closed, 11.1 million. On June 2, the number of transactions in shares conducted in the MICEX stock market reached its historical maximum, 823 thousand.

At the end of the year, the capitalization of stocks of Russian companies traded on the MICEX Stock Exchange amounted to 20.17 trillion rubles (on 31.12.2009), having increased by 105%. Best selling stocks included shares in Sberbank (24.6% of the total trading volume), Gazprom (23.2%), Rostelecom (11.0%), LUKoil (6.1%), Rosneft (6.0 ), Norilsk Nickel (5.4), VTB Bank (3.5%), Surgutneftegaz (3.3%), Tatneft (2.1%) and RusHydro (1.1%).

At the end of the year, the number of issuers and issues of securities traded on the Exchange fell only slightly: on 31.12.2009, 1.314 securities of 696 issuers were traded on the Exchange, including stocks, bonds and shares of investment funds (on 31.12.2008: 1 374 securities of 774 issuers).

The number of professional participants trading in the markets of the MICEX Stock Exchange remained at the previous year’s level. On 31.12.2009, the number of participants in trading in securities on the MICEX Stock Exchange amounted to 654 organizations (31.12.2008: 667).

In 2009, the investor base increased significantly. The low value of stocks drew the attention of investors (in particular, individual investors) to the stock market. During the year, the number of unique clients in the MICEX Group’s stock market increased by 20% to 696 thousand, of which 672 thousand were unique clients-individuals. Individuals accounted for 53% of the volume of trading in stocks on the MICEX SE.

The volume of placements of bonds amounted to 930.1 billion rubles, a historical record for this market. The exchange took measures aimed at minimizing defaults in the bond market, including the reform of the bonds listing and the introduction of more stringent requirements for issuers of bonds compared to the current legislation.

The primary bond market opened for large, prime borrowers: the average volume of placements increased from 3.64 billion rubles in 2008 to 5.74 billion rubles in 2009. Last year saw the placement of 162 issues of bonds of 98 issuers. At present, the MICEX Stock Exchange organizes trading in 702 issues of regional and corporate bonds and commercial papers of 423 issuers. Their total nominal value is 2.74 trillion rubles.

In 2008 the MICEX launched trading in commercial papers. Last year, issuers showed great interest in the new instrument as a convenient means of managing short-term liquidity. In 2009, 28 issues of commercial papers of 16 issuers, worth 138.6 billion rubles, were placed on the Exchange.