MOSCOW, October 17 (RIA Novosti) - The Moscow Inter-Bank Currency Exchange (MICEX) has postponed the launch of its futures market until next year, the MICEX stock exchange director said Tuesday.
MICEX had earlier announced plans to launch its futures market in the second half of 2006.
Alexei Rybnikov said the decision was due to other priorities in the exchange's strategy, and that the project demanded considerable resources.
"This is quite a vast project, and requires considerable resources. All funds available to MICEX Group are distributed in compliance with the tasks set by its shareholders," Rybnikov said.
