The Moscow Exchange is taking active steps to attract Russian video game developers to the stock market. Natalia Loginova, head of the exchange's issuer relations department, confirmed that more than 150 companies specializing in game development are in focus. This is an ambitious bet on a segment that has significant growth potential but has so far remained in the shadows for domestic investors.
In my assessment, the exchange's initiative looks timely. The Russian gaming industry demonstrates high profitability, as confirmed by global practice, where studios actively use exchange financing to scale. Loginova cited illustrative figures: about a hundred such companies are traded on the Warsaw Stock Exchange, around 50 on NASDAQ Stockholm, and roughly 30 on U.S. platforms. These data clearly show that Russian studios have room to grow.
New council and exchange plans
To accomplish this task, the Moscow Exchange plans to create a specialized video game council within the "Innovation and Investment Market" sector. This structure is aimed at young technology companies that find it difficult to enter the main market on their own without additional support. The council will become a key gathering point for future issuers, allowing for unified approaches to evaluating studios and preparing them for listing.
In parallel, the exchange continues to develop its infrastructure. Starting September 14, the main trading session will be extended to 10 hours across four markets, giving investors an additional hour for operations. Additionally, in the summer, the exchange launched an artificial intelligence-based system to detect transactions with signs of market manipulation and insider trading. This is an important step for increasing confidence in trading, especially ahead of the arrival of new issuers.
The Video Game Association acts as a bridge between the industry and the exchange. It is through this association that the exchange selects candidates ready for financial disclosure and the requirements of public status. Although specific names of potential issuers have not yet been announced, Loginova noted that the association already includes several companies that could potentially go public.
My view: This move by the Moscow Exchange is not just an expansion of its product line, but a signal of the maturity of the Russian gaming market. Investors gain access to a new class of assets with high potential, but it is worth remembering the volatility and specifics of the gaming industry, where the success of one project can dramatically change a company's value.