Deutsche Boerse has sent a letter to Sergey Prikhodko, an aide to the Russian president, to outline the plan for a new trading floor.
Photo: Dmitry Azarov
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Deutsche Boerse Lures Issuers from London to Germany
One of the world’s largest exchanges Deutsche Boerse is initiating the creation of a European trading floor for Russian securities. Deutsche Boerse offers cooperation to Russian officials and the MICEX to set up an exchange in Germany. The offer could be accepted under the pressure of political factors, analysts say. A new trading floor could undermine the standing of the London Stock Exchange which has so far been the key trading floor for Russian companies abroad.
Deutsche Boerse’s managing director Reiner Riess and chairman of its executive committee Frank Gerstenschlaeger have sent a letter to Sergey Prikhodko, an aide to the Russian president. The German top managers said they are ready to offer their help to strengthen Moscow’s reputation of a financial center and set up a multinational trading system to change the balance of trading of Russian assets on domestic and foreign markets.
Deutsche Boerse would like to see the Russian MICEX managing the new trading floor. “Operating in the EU this trading floor would offer foreign investors, primarily from the United States and Europe, an easier access to Russian securities,” the letter said.
www.kommersant.com
All the Article in Russian as of Jan. 31, 2008
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