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. Last Updated: 07/27/2016

Luzhkov's Exchange

Moscow papers reported last week that Mayor Yury Luzhkov is preparing to enter the stock market with the creation of the Moscow Stock Exchange, to be located at the VVTs All-Russian Exhibition Center, as the former VDNKh is now known.

The news seemed unexpected, and other exchanges have been thrown into a panic. Alexei Vlasov, the president of the Russian Stock Exchange, said he was certain the new exchange would present "colossal competition" for other exchanges.

"It is well known that Yury Luzhkov always finishes what he begins," Vlasov said. "Therefore, there is no doubt that the exchange will get going and start earning money very quickly. I know that the best specialists and the sharpest brokers are going to be working there."

In addition, [Vlasov] said he expects a large portion of the upcoming Moscow Municipal Bond offering to be sold on the new exchange. It's quite possible that other platforms with municipal bond accreditation may find themselves out of work.

Commersant Daily, Jan. 31