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Major Russian stock exchange posts 84% net profit rise in 1Q06

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MOSCOW, May 3 (RIA Novosti) - The Moscow Inter-Bank Currency Exchange said Wednesday its stock segment net profit rose 84.08% in the first three months of 2006, quarter on quarter, to 49.46 million rubles (about $1.8 million).

The value of MICEX Stock Exchange assets grew 32.12% in the reporting period compared to the fourth quarter of 2005 to 303.56 million rubles (about $11 million).

The exchange, one of Russia's largest, attributed its net profit growth to increased sales and revenues from sale of services. Assets grew on the back of expanded trading volumes and increased value of operating and non-operating assets, the exchange said.

Established in 2003 with a charter capital of 100 million rubles (about $3.5 million), the MICEX Stock Exchange currently comprises 23 organizations as its shareholders, including the MICEX, leading commercial banks and broker houses and the Association of Russian Banks.

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