Moscow Exchange (MOEX) and Shenzhen Stock Exchange (SZSE) have signed a Memorandum of Understanding (MoU) aimed at promoting cooperation and strengthening the partnership between the exchanges. Moscow Exchange CEO Alexander Afanasiev and Shenzhen Stock Exchange Executive Vice President Mr. Peng Ming participated in the MoU signing ceremony.
The MoU provides for joint marketing events for Russian and Chinese investors and facilitation of mutual access to the markets of the two countries, including possible creation of a trading and clearing link between Moscow and Shenzhen as well as cross-listing of ETFs that track Russian and Chinese equity indices.
In recent years Moscow Exchange has consistently developed ties with China’s leading exchanges and financial institutions. These efforts aim to expand settlement in national currencies between Russia and China and to boost trading volumes in yuan-deonominated instruments in Russia, including for capital raising campaigns for Russian-Chinese infrastructure projects.
MOEX has cooperation agreements in place with the Bank of China, Industrial and Commercial Bank of China (ICBC), Shanghai Stock Exchange, China Financial Futures Exchange (CFFEX), Dalian Commodity Exchange, Shanghai Gold Exchange, the largest Chinese brokerage firms CITIC Securities and Galaxy Securities, as well as with SSE Infonet concerning the distribution of Russian market data in China.
Moscow Exchange Group operates Russia’s main trading platform for equities, bonds, derivative instruments, currencies, money market instruments, precious metals and agricultural products. The Group includes Russia’s central securities depository (National Settlement Depository), and National Clearing Centre, performing the functions of central counterparty on the markets, which allows Moscow Exchange to offer its clients the full spectrum of trading and post-trading services.
Moscow Exchange ranks among the world’s top 25 exchanges by total volume of equities traded, and among the five largest exchanges for bond and derivative trading. Securities of 656 Russian companies, including the country’s largest companies by market capitalization, were traded on MOEX as of 1 October 2018.
Shenzhen Stock Exchange (China) was founded in 1990. It is a non-commercial legal entity under the supervision of the China Securities Regulatory Commission (CSRC). The exchange ranks among the world’s top three exchange by equity trading volume. Currently, more than 2,100 securities are listed on the exchange. Shenzhen Stock Exchange is a member of the Asian and Oceanian Stock Exchanges Federation (AOSEF) and the World Federation of Exchanges (WFE), and an affiliate member of the International Organization of Securities Commissions (IOSCO).