Russia"s Federal Financial Markets Service...

"This form is more convenient than just a blog. Blogs allow you to comment, argue, debate. On Twitter there is the opportunity to express oneself with more focus, saying exactly what is most urgent," Vladimir Milovidov said.

He added that FFMS is not the only state entity to have an account on the popular site, noting that Russia"s Federal Antimonopoly Service, the U.S. Securities and Exchange Commission, and even Russian President Dmitry Medvedev used Twitter to keep "followers" informed.

While Medvedev has 2,760 followers on Twitter, and the SEC more than 37,000, at the close of business in Moscow on Monday, the FFMS had yet to attract any interest.

Milovidov said the service was targeting sophisticated internet-users who spend hours hooked on the Internet.

"Since the beginning of the financial crisis many individual investors have entered the stock market. As a rule, they spend lots of time in the Internet, trade on the market, communicate and share

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