Ramón Morales Adarraga is on the board of Moscow Exchange MICEX-RTS PJSC. Mr. Adarraga previously occupied the position of Chief Executive Officer for Infobolsa SA, Director-International Affairs Division at Sociedad Rectora de la Bolsa de Valores de Madrid SA and Head-Information Technology at Bolsas y Mercados Españoles.

Mr. Adarraga received an undergraduate degree from Instituto Catolico de Administracion y Direccion de Empresas.