Rus News Journal

The STATE committee on an antimonopoly policy (GKAP) Russia, the Russian exchange union (RBS) and Institute of research of the organised markets (INIOR) 22 - spends on June, 23rd in Moscow conference the Exchange legislation and development of stock exchanges at the present stage . Heads of all of 269 stock exchanges which have passed in GKAP licensing, and also representatives of the government are invited To conference and VS.

It is supposed that at conference projects of positions about the Commission on commodity exchanges and about an order of licensing of commodity exchanges will be discussed. Also it will be presented postatejnyj the comment to the Law of the Russian Federation About commodity exchanges and exchange trade which is rather interesting to stockbrokers - experts. To facilitate present position of stock exchanges, it is supposed to prepare the project of the presidential decree providing, in particular, obligatory realisation through stock exchanges of production of the enterprises - monopolists that will provide control over their activity.

Phone INIOR: (095 262 - 89 - 88.

the AMERICAN corporation Lewis Corporation which is a member of the American and Filadelfijsky stock exchanges, will be accepted in members MMFB. The arrangement on it is reached during recent visit of the president of firm Lewis Levin to Moscow. Board of directors MMFB has given the consent to reception on June, 16th.
It is supposed that the corporation will be engaged in realisation of actions of foreign firms at auctions MMFB, and return operations - placing of actions of the Russian emitters in stock market of the USA in due course will begin. In the following arrival to Moscow representatives of firm plan to offer structure of portfolios of the actions, picked up specially for the Russian investors. For membership in MMFB Lewis Corporation it is necessary to pay in currency for a market rate the sum, equivalent 5 million rbl. (course cost of 10 actions MMFB necessary for the status of a full member of a stock exchange).

Phone MMFB: (095 923 - 26 - 11.

the PRESIDIUM of exchange council RFB has made decision to begin on June, 17th the regular auctions at a stock exchange in July. With that end in view accreditation of broker offices of shareholders - members RFB on June, 22nd begins. According to chief executive RFB Alexander Derjabin, at a stock exchange the point of collective access to telecommunication network EL - BIS thanks to which brokers RFB can conclude transactions with the papers which are in circulation in a network will be opened. On RFB it is supposed to involve the dealer mechanism, which provides allocation of broker firms - experts (market - makers) for work with papers of this or that emitter.
as Derjabin has informed, payment of an admission fee for participation in the auctions, defined for 1992 in 200 thousand rbl., shareholders can carry out with a delay.

phone RFB: (095 262 - 29 - 33.

the Law on Republic Bashkortostan commodity exchanges, in a number of points, according to the experts, considerably different from the similar Russian document on JUNE, 15TH is passed.
According to the law of Bashkortostan, the highest authority at imposing of penal sanctions on a stock exchange, a suspension of action of the licence for the right of exchange trade and at other conflict situations is not GKAP (as in the Russian law), and court. Besides, in Bashkortostan, unlike Russia, it is authorised to public and religious organisations to be founders of stock exchanges. In republic the status of the single visitor of a stock exchange is forbidden, compulsion of creation of the certified centre is fixed at each stock exchange for carrying out of examination of the goods exposed on the auctions. Are considerably cut down, in comparison with the Russian law, powers of the state commissioner on control over stock exchanges. Thus, as local experts mark, in republic the favorable zone for investment and development of exchange activity is created.