RTS Stock Exchange

What RTS Stock Exchange does

RTS Stock Exchange is the historic predecessor entity of Moscow Exchange (MOEX), the largest Russian exchange holding formed in 2011 through the merger of MICEX and the Russian Trading System (RTS). Operating as a public joint-stock company (ПАО «Московская Биржа»), ticker MOEX, the exchange runs a unified multi-asset trading platform covering equities, corporate and government bonds, mutual and exchange-traded funds, futures and options, FX, precious metals, and digital financial assets (ЦФА). Underlying infrastructure includes real-time market data systems, centralized clearing and risk management, indices (IMOEX, IMOEX2, RTSI, MOEXBMI), a bookbuilding platform, and a credit-scoring service.

The company monetizes through a transaction-fee-led model: trading commissions across all asset classes, listing and admission fees for IPOs and bond issuances, market-data subscriptions, clearing and risk-management fees, and marketplace commission via the Finuslugi financial marketplace (which distributes products such as the FinПодушка cashback savings offering up to 14% yield). Its core customer base is segmented horizontally: retail/private investors accessing markets via the moex.com self-service platform, corporate issuers using IPO and listing services, licensed professional market participants (brokers and dealers) transacting through the exchange for institutional and retail clients, and a non-primary international investor segment.

Distribution runs through the moex.com digital trading platform, licensed brokers/dealers, the Finuslugi marketplace, and direct enterprise sales for issuer services. Marketing mix emphasizes the annual "Best Private Investor" competition (100 million ruble prize pool), the IR Premium "The Market Chooses," IPO calendar publication, and market-data APIs. Headquartered at 13, build. 1, Bolotny lane, Moscow, the exchange operates exclusively within the Russian Federation and is regulated by the Bank of Russia.

Name

RTS Stock Exchange

Legal name

ПАО "Московская Биржа"

Website

https://rts.ru

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Moscow Exchange (MOEX), successor to the RTS Stock Exchange via the 2011 MICEX–RTS merger, is Russia's largest exchange holding, operating a unified multi-asset trading platform for retail investors, corporate issuers, and professional market participants across equities, bonds, derivatives, FX, precious metals, and digital assets.

Ownership category

akta.pro rank

Product category

Securities Exchange

NAICS

Securities and Commodity Exchanges (523210), Securities and Commodity Contracts Intermediation and Brokerage (5231), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Algorithmic Trading & Execution Platforms (FSAFANAN)

akta.pro secondary industries

FX Derivatives Exchanges (Currency Futures & Options) (FSAFABAC), Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA)

Keywords

• Securities exchange
• Equity trading platform
• Derivatives market
• Bond trading
• IPO listing services

Headquarters

HQ city

Moscow

HQ country

Russia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Trading and Transaction Fees: Commission-based revenue from executing trades across all market segments including equities, bonds, derivatives, FX, and precious metals. Fees are charged per transaction based on instrument type and volume.
2. Listing and Admission Fees: Fees charged to issuers for listing securities on the exchange, including initial listing fees and ongoing listing maintenance fees for IPOs, bond issuances, and fund unit listings.
3. Market Data Services: Sale of real-time and historical market data, indices, and trading information to professional participants, media, and data subscribers.
4. Clearing and Risk Management Services: Post-trade services including trade confirmation, margin calculation, and risk management for clearing members.
5. Financial Marketplace Services: Partnership revenue through Finuslugi financial marketplace connecting investors with investment products including the 'FinPодушка' cashback product yielding up to 14%.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Moscow Exchange (MOEX), successor to RTS Stock Exchange, operates Russia's largest exchange holding providing integrated multi-asset trading infrastructure across equities, bonds, derivatives, FX, precious metals, and digital financial assets. The exchange delivers centralized clearing and risk management services, market data and benchmark indices (IMOEX, RTSI), full-lifecycle IPO listing services for corporate issuers, and the Finuslugi financial marketplace for retail investment products.

Product overview

Moscow Exchange (MOEX) operates as a comprehensive financial market infrastructure offering a multi-segment platform for trading various asset classes. The core offering includes equities (Stocks), debt instruments (Bonds), and investment funds (Funds and Money Market Funds) on the stock market segment. Derivatives trading covers Digital Asset Futures, Precious Metals Futures, and standard futures contracts. The exchange also provides IPO services, market indices (IMOEX, RTSI), credit scoring tools, bookbuilding platforms, and digital financial assets (ЦФА) services. All products are integrated within a unified trading infrastructure with additional services like market data APIs and the Finuslugi financial marketplace.

Differentiator

Problem solved

Functional benefit

Products and services

• Stocks (Акции) Equity securities certifying ownership rights in a company and entitlement to dividends, traded on the Moscow Exchange stock market segment for retail and institutional investors.
• Bonds (Облигации) Debt securities with regular income payments and known maturity dates, including corporate, government, and municipal bonds for investors seeking fixed-income exposure.
• Funds (Фонды) Investment in mutual funds (PIFs) listed on Moscow Exchange, including open-end, interval, and closed-end funds, providing diversified portfolio exposure.
• Money Market Funds (Фонды денежного рынка) Exchange-traded money market funds providing stable returns for investors seeking low-risk liquidity management instruments, including BPIFs and ZPIFs.
• Digital Asset Futures (Фьючерсы на цифровые активы) Futures contracts on digital assets including Bitcoin and Ether, providing regulated access to cryptocurrency price exposure for Russian investors.
• Precious Metals Futures (Фьючерсы на драгметаллы) Futures contracts on gold and other precious metals with settlement at exchange prices, enabling hedging and speculation on precious metals markets.
• Gold (Золото) Investment in gold reserves through Moscow Exchange via funds or physical metal, giving investors access to gold as an asset class.
• IPO Services (IPO на МОЕХ) Capital raising services for businesses through share sales to investors, including listing, bookbuilding support, IR services, and ongoing listing maintenance.
• Market Indices (Индексы) Benchmark indices including IMOEX, IMOEX2, RTSI, and MOEXBMI that track and represent Russian equity market performance for investors and data subscribers.
• Digital Financial Assets (ЦФА) Platform for trading tokenized securities and digital financial assets, providing regulated access to blockchain-based instruments on the Moscow Exchange infrastructure.

Quantifiable outcome

• Record precious metals swap trading volumes achieved in July 2026
• +1 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

One partnership is on record.

• Finuslugi (Финуслуги)coreGTM or Marketing PartnerFinuslugi financial marketplace (finuslugi.ru) serves as a strategic GTM partner for distributing retail investment products to Moscow Exchange customers. The partnership includes the 'FinPодушка' cashback savings product offering yields up to 14% with promotional codes. The marketplace is marketed on MOEX banners and integrated into the exchange's retail investor ecosystem.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• London Stock Exchange Group: LSEG operates the London Stock Exchange plus FTSE Russell indices, Turquoise, and Refinitiv — a multi-asset exchange and market-infrastructure platform spanning equities, derivatives, FX, and data. Like MOEX, it earns revenue across listing fees, trading, clearing, and market-data subscriptions, making it a direct structural comparable.
• Singapore Exchange (SGX): SGX runs multi-asset listings, derivatives, and fixed-income trading across equities, FX, and commodities. Its role as a regional hub for cross-border issuance and derivatives flow makes it a relevant structural peer to MOEX.
• B3 (Brasil, Bolsa, Balcão): B3 operates Brazil's primary exchange, offering equities, derivatives, FX, fixed income, and securities services through an integrated platform. Its full-stack, single-jurisdiction exchange model with strong domestic retail engagement is structurally similar to MOEX.
• Japan Exchange Group (JPX): JPX operates the Tokyo Stock Exchange plus Osaka Exchange derivatives, offering equities, ETFs, and derivatives on a unified infrastructure — closely paralleling MOEX's combination of benchmark equity indices (IMOEX/TSE) and derivatives market.
• Korea Exchange (KRX): KRX operates Korea's unified exchange across equities, bonds, ETFs, and derivatives with a single integrated trading system. Its full-asset single-venue model under strong domestic regulatory oversight closely parallels MOEX's structure.
• Hong Kong Exchanges and Clearing (HKEX): HKEX operates cash equities, derivatives, commodities, and clearing in a unified venue with strong regulatory backing. Comparable to MOEX for its multi-asset scope, dominant domestic-market position, and growing digital/structured-product offerings.
• Intercontinental Exchange (ICE): ICE owns NYSE and operates one of the largest global multi-asset exchanges and clearing houses across equities, fixed income, commodities, and FX. Its integrated infrastructure of listings, trading venues, clearing, and data services closely mirrors MOEX's full-stack model across asset classes.
• TMX Group: TMX operates the Toronto Stock Exchange, TSXV, and Montreal Exchange derivatives — a multi-asset Canadian venue combining cash equities, fixed income, and derivatives. Comparable to MOEX for its integrated listings + derivatives + market-data business in a single regulated market.
• Nasdaq, Inc. Nasdaq operates a major global exchange and runs benchmark indices, listing services, and market-technology platforms. Comparable to MOEX in its equity listings business, index licensing (IMOEX/RTSI parallel Nasdaq indices), and exchange-as-a-service technology offerings.
• Deutsche Börse AG: Deutsche Börse runs the Frankfurt Stock Exchange plus Eurex derivatives and Clearstream post-trade infrastructure, delivering integrated trading, clearing, and settlement across multiple asset classes — a directly comparable integrated European exchange operator to MOEX.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/russian-trading-system

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RTS Stock Exchange