By Andrei Skvarsky.
Moscow Exchange and Deutsche Börse have signed an agreement allowing Deutsche Bank, Siemens, BMW, Volkswagen and Daimler shares to be traded at the Moscow bourse as from September this year.
The two exchanges picked some of Germany’s most liquid shares for their deal, Moscow Exchange chief executive Alexander Afanasiev said after he and Deutsche Börse deputy chief executive Andreas Preuss signed the agreement, which will make single stock futures of the German underlyings available for trade on the Moscow bourse’s derivatives market.
BMW, Volkswagen and Daimler-Benz-made Mercedes vehicles make up about half of cars owned by Russians, according to Afanasiev.
The shares would have roughly the same price as in other countries, it was announced at the ceremony.
Andrey Shemetov, deputy chief executive of Moscow Exchange, said during the signing ceremony at the Russian bourse’s headquarters that he expected most of the shares to be sold to individuals.
Afanasiev described the deal as “an important step in our strategic partnership with Deutsche Börse”. “Our relationship, which began with a letter of cooperation in 2012, is developing and already bringing tangible results to our customers,” he said.
Preuss, who is also chief executive of Eurex, the German bourse’s derivatives arm, said Deutsche Börse would “continue working together with our partners at Moscow Exchange to further expand our partnership”.
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