The National Clearing Centre (NCC), a Moscow Exchange Group company, has announced that it has obtained clearing membership on the Shanghai Gold Exchange (SGE). The exchanges signed an MoU back in April 2018 and a MoU on cooperation in gold trading signed by the Bank of Russia and the People’s Bank of China in September 2017.
The clearing membership status will allow MOEX to establish a trading and clearing link with the SGE, which will support increased liquidity and trading volumes on the Russian regulated precious metals market, diversify end markets and make operations with gold more efficient for participants in the Russian precious metals trading market and their clients.
MOEX has already teamed up with the Bank of China, Industrial and Commercial Bank of China (ICBC), Shanghai Stock Exchange (SSE), China Financial Futures Exchange (CFFEX), Dalian Commodity Exchange, Shenzhen Stock Exchange (SZSE).