Supervisory Board of Moscow Exchange approved a new development strategy until 2028, which envisages an increase in net profit to ₽65 billion, capitalization to ₽700 billion, and a ratio of operating expenses to commission income in the range of 50-55%. This is expected to be achieved through high fee income growth rates - CAGR of 13% and above and return on equity above 18%. Moscow Exchange also expects at least 10 IPOs/SPOs per year and a 3-fold increase in the volume of bond issuance.