OREANDA-NEWS. July 05, 2010. The MICEX Group and the Cyprus Stock Exchange (SSE) have signed a Memorandum of Understanding aimed at promoting cooperation between the two exchanges.

The parties intend to develop mutually beneficial relations in the field of organizing trading in securities and settlements of transactions and implementing joint projects in the securities markets of Russia and Cyprus in the interests of Russian and international investors.

In the framework of their joint work, the parties will be able to form joint working committees on matters of mutual interest, organize joint events aimed at promoting the development of on-exchange markets, exchange information on the activities of the two Exchanges and carry out joint training programs.

The MICEX Group and the CSE are sure that this Memorandum will provide the basis for further fruitful cooperation, which will give investors the most favorable conditions for investing in the global economy.

The MICEX Group is an integrated exchange that provides services related to electronic trading, clearing, settlements as well as depository and information services. The Group is comprised of the MICEX, the MICEX Stock Exchange, the National Mercantile Exchange, the MICEX Settlement House, the National Depository Centre, commercial bank National Clearing Centre, regional exchange and settlement centers, as well as other organizations. The Group serves over 1700 participants in the on-exchange market – leading Russian banks and broker companies from Moscow and other large financial and industrial centers of Russia. At present, the MICEX Group is the largest exchange in Russia, the CIS, Central and Eastern Europe.

In terms of the volumes of on-exchange trading in securities, the MICEX Stock Exchange is among the worlds’ top 25 stock exchanges.