Moscow Interbank Currency Exchange

Moscow Interbank Currency Exchange (MICEX) is one of the largest exchanges in Russia, CIS countries and Eastern Europe. In terms of the volume of transactions, the MICEX ranks among the world’s top 20 exchanges by total capitalization of stocks traded.

Liquid shares of Rosneft, Gazprom, Lukoil, RusHydro and others are traded on the MICEX.

There are three sectors of MICEX stock market

Major market

The major market is the center where liquidity of the Russian securities is formed. It is the platform for foreign investments in shares. In this sector shares, government and non-government bonds, depositary receipts and fund shares are traded.

Major market modes of trading:

  • Main trading mode – anonymous order book with T+2 settlements
  • Negotiated deals mode
  • Repo deals mode
  • Securities placement and repurchase mode


The Standard sector is a single system for trading shares, futures, options, and fund shares by the Central Counterparty. It is characterized by the absence of 100% advance asset depositing. Standard T+4 settlements in rubles are applied. In addition to regular trades, there are evening trading hours: from 19:00 to 23:50 Moscow time.


Trading in the Classica sector involves the absence of 100% advance asset depositing. Settlements in both rubles and foreign currency are allowed.

If you need professional advice or have any questions, please feel free to contact us at 8-800-100-35-05 from 10.00 to 18.45 Moscow time.

Derivatives market

The MICEX derivatives market is the futures and options market.

Derivatives market assets:

  • RTS index
  • Sector indexes
  • MosIBOR and MosPrime rates
  • Urals and Brent, diesel oil, gold, silver, energy, etc.

Trading hours: from 10.00 to 23.50 Moscow time

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