By Andrei Skvarsky.
Moscow Exchange ended tjis year’s second quarter with financial results described by its chief executive as its “best quarterly numbers”to date.
The exchange, which is a joint-stock company, said in a statement that its net profit,total operating income, earnings per share, and earnings before interest, taxes, depreciation and amortisation (EBITDA) had all increased year-on-year despite the escalating Ukrainian crisis and Western sanctions against Russia.
Moscow Exchange paid a “record” dividend of 2.38 rubles ($0.07) per share. The dividends, paid out by August 15, made up 46% of the bourse’s net profit as calculated on the basis of international financial reporting standards (IFRS).
The statement also mentions various other achievements for 2014.
The exchange has joined the FIX Trading Community, an international financial markets standards body, as a global premier member.
In May, the bourse hosted the 31st annual World Federation of Exchanges (WFE)-International Options Market Association (IOMA) Derivatives Conference.
It has finished reformingits listing process, simplifying the quotation list structure in a way that, it says, offers extra investment opportunities to Russian pension funds, and tightening requirements for issuers, including corporate governance standards.
Yandex, operator of Russia’s largest search engine and one of Europe’s biggest Internet companies, has begun trading on Moscow Exchange.
The exchange’s freefloat has swelled to 55.7%, becoming one of the largest freefloats in the Russian market, as a result of the central bank selling an 11.7% stake in the company.
“We are announcing the best quarterly numbers for Moscow Exchange to date, demonstrating once again that our business model is capable of delivering strong results in any market environment,” chief executive Alexander Afanasiev said.
“We are experiencing high trading volumes across our main markets, we have maintained a disciplined focus on cost control, and we benefit from important reforms to the market infrastructure recently introduced,” he said.
“We have seen a rapidly changing operating environment and market conditions this year, presenting a test to Moscow Exchange and its ability to provide a seamless service to clients and to continue to develop its business. I am pleased to say that we have successfully passed this test,” Afanasiev said.
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