Due to low trading volumes, common shares in both RBC Information Systems and Armada have been removed from their respective quotation lists on the RTS exchange.  Starting today they will trade on the RTS as unquoted securities.

Liquidity in both stocks on the RTS exchange has been minimal since autumn 2008.  Their exclusion from RTS quotation will limit the trading volumes of foreign investors, and makes the MICEX exchange a more attractive trading platform.  Investors who were up to now still trading Armada and RBC on the RTS are likely to transfer their positions to the MICEX, a process that normally takes three days.

Conclusion

The news is expected and slightly negative for both RBC Information Systems and Armada.  However, it may support trading volumes in both stocks on the MICEX.