Moscow's stock exchanges to merge

Moscow’s two stock exchanges the Moscow Interbank Currency Exchange Micex and  Russian Trading Systems RTS are expected to sign a merger agreement early next week.

It is a historic merger considering that for the past 15 years the Micex and RTS have been battling it out for market share.

A memo of understanding announcing the tie-up was issued in February, heralding a marriage that should increase trading volumes and provide deeper liquidity in Moscow’s stock market, but like many things in Russia it has taken time to iron out the details. And it is still a work in progress for example, the name of...