trovus

RTS Stock Exchange

RTS Stock Exchange  Logo

Back to search results

RTS Stock Exchange

Country Russia
Region Russia
Investor Da Vinci Capital Management

In January 2008, Da Vinci Private Sector Growth Fund made initial investment in RTS Stock Exchange - one of the two leading Russian stock exchanges, with subsidiary exchanges in Kazakhstan and Ukraine. In 2011, RTS and the MICEX stock exchange signed a framework agreement to merge, with the combined entity becoming the 9th-largest exchange group in the world.

Since then, Da Vinci has held RTS-MICEX to grow, accelerating the development of derivatives markets and creating a reliable trading platform, as well as leading the process for much-needed Russian financial market regulatory reform. The business is now in the process of developing an IPO plan of its own, which would value it at up to $6bn.

Currently Russian capital markets infrastructure undergoes main changes and creating a solid local exchange is a milestone event in establishing International Financial Center in Moscow.

What did the business need?

  • Support for developing a genuine growth strategy
  • Development of improved trading platforms
  • Increased international presence
  • Improve local regulatory framework

How did private equity backing create lasting value?

  • Pivotal role in merger of RTS and MICEX
  • Won IPOs and cash equity liquidity by focusing on development of domesticinvestor base and by attracting foreign investors
  • Accelerated and diversify the development of derivatives market
  • Created reliable and high-speed trading platform and high-quality IT services
  • Led the process of Russian financial market regulatory reform
  • Corporate governance, sales and marketing improvements
  • Set up of commodity exchange in Kazakhstan

What outcomes did private equity investment achieve?

  • Business transformed into 9th-largest exchange group in the world
  • Exchange now has international profile and investors
  • Target for IPO with market capitalisation of up to $6bn

$6bn

maximum market cap at IPO

9th

largest global exchange

Case study image