Summary Box: Russia's 2 main exchanges merge

AP News
Posted: Dec 19, 2011 4:12 PM
Summary Box: Russia's 2 main exchanges merge

URGE TO MERGE: Russia's two main stock exchanges on Monday completed their official merger in a hope to increase transparency and liquidity and attract foreign listings.

HEATED COMPETITION: The merger is part of the Russian government's plan to encourage Russian and foreign equity issuers to list their companies in Moscow, rather than London or other global financial centers.

OPENING MARKETS: Russia is also about to open a central securities depositary which will allow foreign funds to own their own shares directly, which will open the market to a larger pool of foreign investors.