“Clearstream’s announcement is part of Moscow bourse officials’ efforts to lure more foreign investors to trade Russian stocks locally rather than in London and New York. The Moscow Exchange merged its two competing depositories in 2012 and in September extended the time allowed to settle transactions to two days. The Moscow Exchange is optimistic that international depositories will open direct equities accounts. The exchange would like to reduce the volume of Russian equities trading abroad to between 20 percent and 25 percent of the total by 2015, from about 40 percent in 2013, Alexander Afanasiev, chief executive officer at the Moscow bourse, said in a June 2013 interview.”
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