OREANDA-NEWS. May 22, 2012. The MICEX-RTS Board of Directors made a decision to adopt the MICEX-RTS Group Strategy, call an Annual general meeting of shareholders and approve date and agenda for the AGM. 

Previously, the Board of Directors advised the Executive Board to agree the Strategy with customers, regulators and self-regulatory organizations.  Following the results of the discussions the final version of the Strategy was approved by the Board on Monday.  Aleksey Savatyugin, Deputy Finance Minister the Russian Federation, who addressed the MICEX-RTS Board of Directors with comments on the document before, took part in the debate on the Strategy at the meeting of the Board.  

Six major priorities divided into product-oriented and infrastructure-oriented have been determined in the Strategy approved by the Board. The product-oriented priorities include repatriation of IPOs and liquidity to the Russian equity market as well as accelerating development of the derivatives market including expansion of the range of products it offers.

The MICEX-RTS infrastructure projects imply creating a clearing system that will offer an opportunity to calculate a market participant's single cash position across all asset types; insuring competitiveness of the Group's settlement services; creating reliable and high performance technological platform with an array of related services; active involvement in conducting the regulatory reform.

Two large areas for work are followed from the Strategy that has induced the Board of Directors to recommend that the Annual General Meeting consider separation of power between the President and Chief Executive Officer because of a large number of tasks that need to be accomplished.  The President will be responsible for law-related issues, GR, IR and preparing to an IPO. The Company"s CEO will be in charge of the business organizational arrangements and operation administration of the company.  The President and CEO will share the responsibility for the company"s development and implementation of the Strategy.

A candidate for CEO is to be approved by the AGM, for the President – by the Board of Directors that will be elected at the AGM.

It is recommended that Ruben Aganbegyan remains the President of MICEX-RTS. Now he will be able to focus entirely on "external" issues of the Exchange.  Alexander Afanasiev, Deputy Chief Executive Officer of OJSC MICEX-RTS, is proposed to be the company"s CEO by the Board of Directors 

In addition, the AGM"s agenda will include issues related to a new version of the company"s Articles of association that will include also a new name of the Exchange, approval of the annual report, financial statements, election of the Board of Directors and Audit Committee, remuneration amount for members of the Board of Directors and Audit Committee, appointment of audit firm, distribution of profit, including dividends, etc.

The Articles of association of the Exchange is going to be changed to include the new name "Moscow Exchange MICEX-RTS" (short name "Moscow Exchange").

The AGM will take place on June 20, 2012 at 4.00pm MSK in the office of MICEX-RTS at 4/7 Vozdvizhenka Str, Bld 1, 7th floor, 125009, Moscow. Registration of the meeting"s participants will start from 2.00pm MSK.