London And Moscow Stock Exchanges Sign Information-Sharing Agreement

by Carla Johnson, Investors Offshore.com

27 January 2004

The London Stock Exchange and the Moscow-based RTS Stock Exchange have signed a memorandum of understanding that will enable greater cooperation and information sharing between the two bourses.

The MOU is designed to facilitate greater exchange of information on the status of cross-listed securities, which are both admitted to trading on LSE’s International Equity Market (including SEAQ International and The International Order Book) and are listed on the RTS Stock Exchange. Issues on which the exchanges are likely to swap information include cross-listed securities’ suspension from trading, the reasons behind any suspension, and significant price movements.

The agreement will also provide for the exchange of personnel between the two institutions, allowing employees to gain an insight into the workings of each market.

Commenting on the agreement, Chris Gibson-Smith, Chairman of the London Stock Exchange noted: "At the London Stock Exchange, developing relationships with Russian companies and exchanges has been a top priority for a number of years. Representatives from both our exchanges have met here in Moscow and in London on several occasions, to lay the foundations for the strong relationship between us that exists today."

The LSE has signed a number of similar agreements with overseas bourses, including the Johannesburg Stock Exchange and the Hong Kong Stock Exchange.

Meanwhile, several Russian firms already have an established presence on the LSE.

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