By Andrei Skvarsky.
Moscow Exchange’s supervisory board has promoted two of the bourse’s senior officers – Anna Kuznetsova, head of equity and bond trade, and Igor Marich, head of foreign exchange (FX) and money trade, – to two-year positions on the exchange’s executive board, its top executive body.
Kuznetsova began her financial career in 1999 and has worked in the securities market since 2001, when she joined former Russian stock exchange RTS, the exchange said in a statement. She went over to another former Russian bourse, MICEX, in 2008. The two exchanges merged in 2011.
Kuznetsova, who is a qualified mathematician, has supervised three large-scale projects at Moscow Exchange – transition of equity trade to the T+2 settlement cycle without full collateral required, introduction of the T+1 settlement cycle, also without full collateral needed, into trade in OFZ government bonds, and a listing modernisation reform.
Marich joined Moscow Exchange in 2000. Previously he had held securities-related positions at banks, being, among other things, involved in reforms of operations with government bonds and in establishing a regulated repurchase agreement (repo) market, a system of short-term borrowing for dealers in government securities.
After taking the helm in FX and money trade in 2011, he has implemented projects including the launch and development of a system of repos with the central counterparty, reforming forex trade on Moscow Exchange, and launching a new money market instrument, the statement said.
Besides Kuznetsova and Marich, who received their appointments on July 21, the executive board consists of Moscow Exchange chief executive Alexander Afanasiev, chief financial officer Evgeny Fetisov, chief information officer Sergei Poliakoff, and chief operating officer Dmitry Shcheglov.