P.M. BRIEFING : Bonds 1st on Moscow Exchange
The Moscow International Stock Exchange hopes to begin trading in a limited number of government bonds in January, Russian Finance Minister Boris Fyodorov said today.
The government of Russia, the largest and richest of the 15 Soviet republics, was among 20 organizations and individuals that founded the exchange last month.
“We would like to take in the first place a very primitive step,” Fyodorov said of the decision to start by trading bonds before gradually introducing securities.
The Russian-supported exchange is smaller and separate from the Moscow Stock Exchange founded in November by 187 companies. The Moscow Stock Exchange has not yet set an opening date but has ambitious plans to open offices in the New York, Frankfurt, Tokyo and Singapore stock exchanges.
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