This is a matter for the Central Bank, which has a very cautious policy. We aren't going to see any sharp changes.
This explains the stability of the Russian stock market - it does not grow rapidly after the January upsurge and it is unlikely to drop suddenly.
This restriction will be subsequently lifted and will not discredit investors because they can place 70% of their issue in depositary receipts.
We must provide the Central Bank with more flexible Stabilization Fund investment portfolio, while giving a small sum of about $1 billion to investment companies, to see whose management is more effective.
I believe today's agreement between the RTS and S&P is a deservingly important event, not only for the two parties involved but for the Russian market in general.
Unfortunately, the infrastructure of Russia's securities market has developed in a speculative way.
The market will continue growing, but at a slow pace, for fundamental reasons, including forecasts of oil prices.
The 30% requirement is $0.5 billion at best and does not create a problem for large companies.
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