I believe today's agreement between the RTS and S&P is a deservingly important event, not only for the two parties involved but for the Russian market in general.
This explains the stability of the Russian stock market - it does not grow rapidly after the January upsurge and it is unlikely to drop suddenly.
We wouldn't want the Russian companies to ignore the domestic market too much. We would like a Russian investor to have an easy and simple access to Russian assets.
The market will continue growing, but at a slow pace, for fundamental reasons, including forecasts of oil prices.
Unfortunately, the infrastructure of Russia's securities market has developed in a speculative way.