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MICEX to calculate index in dollar terms despite Duma bill

MOSCOW, June 1 (RIA Novosti) - Moscow Inter-Bank Currency Exchange intends to calculate its index in dollar terms and offer a range of new exchange-trade indexes, its general director said Thursday.

Alexei Rybnikov's announcement came despite Russia's lower house of parliament giving initial approval to a draft law that would punish officials for talking publicly about monetary amounts in dollars when they could use rubles.

"We will be calculating the MICEX index in dollar terms to indicate where the domestic market is moving from the viewpoint of foreign exchange risks," Alexei Rybnikov told a conference on the Russian stock market.

Rybnikov said the MICEX index committee had prepared recommendations on launching a range of new sectoral indexes, including indexes for the oil, energy, extracting and consumer sectors. He added that the committee had also discussed the possibility of launching indexes for companies making an initial public offering, capitalization-based indexes and indexes reflecting industrial output dynamics.

But Rybnikov did not specify when the MICEX intended to launch its dollar-related and new sectoral indexes.

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