By Ivan Anderzhanov
The MICEX Group and the Istanbul Stock Exchange (ISE) have signed a memorandum of understanding today to cooperate with each other and to foster a relationship between for the benefit of Turkish and Russian securities markets.
Within the framework of the MoU, the two exchanges intend to organise regular meetings between senior executives and arrange secondment of staff in order to enhance understanding of developments in each market.
ISE and MICEX plan to carry out joint research projects for the purpose of calculation of a joint composite stock index, which may be the basis of index related products that can be traded on both markets.
MICEX president Konstantin Korischenko, said “This MoU opens the way for our two Exchanges to start practical dialogue aimed at evaluating areas of bilateral cooperation for the sake of our national markets”.
Hüseyin Erkan, the ISE Chairman & CEO, added. “We also strongly support the cooperation of the central clearing and depository institutions of both markets.”
