Stock Exchange to Launch on Former St. Petersburg
A new securities trading platform may emerge in Russia based on the former St. Petersburg Exchange, which was renamed the V.V. Nikolaev Eastern Exchange in February 2024.
This information comes from sources within brokerage firms and others familiar with the discussions, according to Lenta.
The new exchange aims to list securities of Russian issuers, stocks of companies from friendly countries, and derivative financial instruments.
Leadership and Involvement
Several insiders suggest that Roman Goryunov, the former CEO of the St. Petersburg Exchange, and his team are involved in the project.
However, the Eastern Exchange has denied their involvement.
Founded in 1991 by Viktor Nikolaev, who led it until his death in 2021, the St. Petersburg Exchange primarily focused on the commodity market, including trading oil and petroleum products.
Structural Changes and Future Prospects
In February, the exchange underwent significant structural changes, including a name change, a 7.7-fold increase in authorized capital to 1.7 million rubles, and a relocation of its main legal entity from St. Petersburg to Vladivostok.
The company stated that new projects are still under discussion and it is too early to provide details.
However, a representative acknowledged that they are assembling a team and searching for experienced professionals to build exchange, clearing, and depository infrastructure.
Sources suggest that the Eastern Exchange aims to offer an alternative for securities trading, especially given the blocking sanctions imposed on the St. Petersburg and Moscow exchanges by the U.S.
