At the Kazan Universal Exchange in the Tatarstan capital, 1,500 km east of Moscow, traders can find virtually anything for sale from flowers to furniture to plumbing supplies. But upstairs at the exchange itself, the one item they will be hard-pressed to find are corporate stocks.
According to a privatization law in Tatarstan, one of the fastest growing regions in the Russian Federation, corporate shares cannot be traded on the secondary market for three years following the initial issue.
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