Moex Unveils Exec Board, Exchange Council New Appointments

Moscow Exchange has announced a number of new appointments at its executive board and exchange council.

Anna Kuznetsova, managing director of Moex’s equity and bond market and Igor Marich, managing director of Moex’s FX and money markets were made members of the executive board for two years, Moex says in a statement Friday.

The appointment of “two key front-office directors who have a 15-year history with the Exchange, as well as unique expertise and a track record of managing major exchange products and new projects” brings the number of members of the Executive Board to six, Moex says.

Current members include CEO Alexander Afanasiev, chief financial officer Evgeny Fetisov, chief information officer Sergei Poliakoff and chief operating officer Dmitry Shcheglov.

Kuznetsova began her career in the financial markets at NAUFOR in 1999 and moved to RTS Stock Exchange in 2001, the statement says.

She joined MICEX Stock Exchange in 2008, being in charge of the securities market. She directly supervised the implementation of three large-scale initiatives at the Moscow Exchange such as the migration of the equity market to T+2 settlements without full collateral required, transferring OFZs to the unified T+1 settlement cycle without full collateral required as well as reforms to the listing process, Moex explains.

Igor Marich has been working for Moscow Exchange since 2000. 

Prior to joining the exchange, he held different positions at banks where he was responsible for development of securities operations.

After being appointed as head of the money and FX market at Moex in 2011, he implemented a number of prominent projects such as the launch and development of repos with the CCP, reformation of the on-exchange FX market, and the launch of a new money market instrument on the basis of CCP-cleared repo, the statement says.

In addition, at its meeting on 21 July 2016, the Moscow Exchange supervisory board approved a new version of the exchange council provisions and named new members of the council, Moex reports.

According to the amended provisions, the chairman of the council will be appointed by its newly selected members, and not by the supervisory board.

The board also endorsed Anatoly Shvedov, chairman of Goldman Sachs Bank (Russia), and Andrey Shemetov, head of global markets, Sberbank CIB, as members of the exchange council. They will replace Steven Hellman, former CEO at Credit Suisse (Moscow), and Maksim Safonov, former head of global markets department at Sberbank CIB.

The exchange council includes 26 senior representatives of the top-15 market participants by trading volume, executives of leading self-regulating organisations, asset management companies, investment banks, custodians and the Bank of Russia.  Its main function is to craft strategic proposals for the development of exchange infrastructure and of Russia”s financial market overall, Moex explains.

Moex shareholders to vote on subsidiaries consolidation 

Meanwhile, Moex’s says its supervisory board has decided to call an extraordinary general meeting of shareholders to address the issue of the corporate restructuring of PJSC Moscow Exchange.

Shareholders will be asked to approve consolidation by PJSC Moscow Exchange of its fully-owned subsidiaries CJSC MICEX stock exchange and MB Technologies and the terms and conditions of the restructuring, Moex says.

The meeting will be held on September 2 2016.

CJSC MICEX Stock Exchange and OJSC MB Technologies are part of Moscow Exchange Group’s unified trading, settlement and technological system. 

“The restructuring will optimise the Group’s corporate structure, streamline customer relationships with group companies and reduce costs both for customers and for the Exchange” Moex says.

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Galen Stops

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