Russia Missing Opportunity to Boost Trading in Micex Revamp
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Russia’s stock exchange is missing an opportunity to boost trading as it reorganizes its benchmark equity index, according to the asset management arms of OAO Sberbank, Alfa Bank and VTB Group.
The Moscow Exchange will add 20 new stocks to the ruble-denominated Micex Index from tomorrow, making its composition identical to the 50-stock RTS Index, which will remain priced in dollars. The move won’t increase trading volumes, as the Micex will remain skewed toward the biggest companies, according to Sberbank Asset Management, VTB Capital and Alfa Capital.