RTS without Morgan Stanley

A representative of the investment bank did not join the board of directors of the exchange

The general meeting of the non-profit partnership "Russian Trading System" yesterday elected a board of directors of 17 people. Oleg Safonov, who began working at the RTS Stock Exchange in 2003 as the head of the financial department of NP RTS, was again confirmed as the President of the exchange, and in September 2004 was elected to the post of President.

The list of candidates for the board of directors consisted of three categories. From the first category, the board of directors could include nine representatives of legal entities occupying 15 leading positions in terms of the volume of concluded transactions based on data from NP RTS. The second category included representatives of members of the NP "RTS" from the North-Western, Ural and Volga regions. During the meeting, a representative of the Morgan Stanley investment bank, Igor Kan, complained that he was not included in the list of candidates, after which he was immediately added to the list of the third category. However, Mr. Kahn objected to this that he “would like to be in the first category - where Troika Dialog and other large companies are.” Nominally, Morgan Stanley does not occupy a leading position in terms of transaction volume on the RTS. “We have zero directly there,” says Mr. Kahn himself. However, in his opinion, his bank’s share in transactions is no less significant than the other largest companies on the list. The financier believes that the problem is that most of the volume of transactions is not recorded, since “no one here still trusts anyone.” Mr. Kahn was given the opportunity to express his position by addressing everyone present from the stage, but he did not receive enough votes to join the board of directors.

===================================================== =========

The new board of directors of RTS includes: Jacques Der Megredichyan (Troika Dialog), Dmitry Snesar (United Financial Group), Alexander Pertsovsky (Renaissance Broker), Marlen Manasov (UBS Securities), Maria Yarnykh ( Citibank), Dominic Gualtieri (Alfa Bank), Evgeny Sverdlov (Antanta Capital), Askhat Sagdiev (East Capital), Alexander Kandel (Aton), Sergey Roshchin (Eltra Investment Company), Igor Kuzmin ( Unicom Partner), Dmitry Shteinsapir (Ak Bars), Evgeny Kiselev (Sberbank), Vladimir Melentyev (Gazprombank), Victor Nikolaev (St. Petersburg Stock Exchange), Sergey Sudarikov (IC Region ), Oleg Yachnik (OLMA).

Nikolay KOCHELYAGIN