By Jason Corcoran in Moscow
MICEX and the Shanghai Stock Exchange (SSE) have today announced a memorandum of cooperation in the sphere of creating joint indices on the Moscow exchange and to launch exchange traded funds (ETFs) in China.
A delegation of the Shanghai Stock Exchange visited the MICEX on October 12. The two bourses agreed that China Securities Index Company Ltd. (CSI) will be the exclusive distributor of the MICEX index in China for companies intending to launch index funds based on the MICEX indices.
In 2007, MICEX and Hong Kong Exchanges and Clearing agreed to cooperate in developing exchange-based market when they signed a memorandum of understanding.
Rusal, the Russian aluminum producer, has recently applied to sell shares on Hong Kong’s exchange. Moscow-based Rusal would be the only Russian company with shares trading in Hong Kong.
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