OREANDA-NEWS. November 02, 2010.  Asset Management Company of the Bank of Moscow (AMC of the Bank of Moscow) is increasing the list of Mutual Funds with shares trading on the Moscow Inter-bank Currency Exchange (MICEX). Now, in addition to the funds "Kuznetskiy Most", "Red Square - state-invested company shares" and "Trading Floor – MICEX Index" it will be possible to buy and sell on the MICEX shares of the Mutual Funds "Serebryanniy Bor – Precious Metals" and "Zvyozdniy Boulevard - Stars of the Stock Market".

Shares of AMC of the Bank of Moscow Mutual Funds have traded on the MICEX Stock Exchange since December 2006. The main advantage of trading in shares through the MICEX consists in the opportunity to buy and sell shares in real time, which is of great importance for interval funds. After being entered on the exchange, the shares of the "Kuznetskiy Most" and "Serebryanniy Bor - Precious Metals" interval funds can be bought and sold not only during an open interval, but on any working day of the exchange.

At the beginning of October 2010, the Mutual Fund "Trading Floor - MICEX Index" joined level 1 of the A list.

Exchange trading of investment shares
- cuts costs (no mark-ups or discounts are imposed during sale and purchase of the shares on the exchange);
- cuts the time required for settlements under share sale and purchase transactions – settlements are made on the trading day.

Investment shares turnover on the MICEX is organised in a way similar to that of share and bond trading. Shares of AMC of the Bank of Moscow Mutual Funds can be traded on the MICEX exchange through any company offering broker’s services, including through the Bank of Moscow “Mos-Broker” trading system. For this purpose, a brokerage agreement needs to be signed with the Bank of Moscow.

N.B.: When shares are bought and sold through the AMC, the AMC acts as the client’s tax agent; when operations are performed on the exchange - the broker plays this role. Accordingly, if you purchase shares in the AMC and sell them on the exchange, you will need documentary confirmation for the broker of your expenditures associated with purchasing the shares (and vice versa – confirmation of expenditures for the AMC is you purchase the shares on the exchange).