RTS Stock Exchange

Country: Russia

Investors: 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.

$6bn

maximum market cap at IPO

9th

largest global exchange

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