Moscow Exchange: All revved up with no place to go

Further reading

• The real emerging Europe • Moscow’s IFC dreams – another Crimean casualty • Sanctions propel Russia towards Asia • Russian capital markets: What’s driving change? • Russia’s new market infrastructure takes shape

Describing the development of Moscow’s stock exchange at a conference in London in October, its chief executive Alexander Afanasiev said: “We have built the house, now we just need to occupy it.” He added ruefully: “Although perhaps ‘occupy’ isn’t the best word for a Russian to be using at the moment…”

Afanasiev’s black humour drew a wry chuckle from the audience, many of whom have nearly as much reason as he does to feel frustrated with the recent reversal of fortunes of Russia’s equity market.