Moscow Exchange lists new options for OTC trading

Banks, brokers and non-financial companies will have more opportunities for trading on Moscow Exchange, the company today announced. The Russian market maker has expanded the direct market access to use OTC services on MOEX’s FX and Precious Metals Markets.

MOEX launched Linking with Foreign Liquidity Providers using NTPro platform technology. This service allows market participants to make spot trades in G10 currencies at prices quoted by major global banks with settlement through MOEX’s central counterparty (CCP), the National Clearing Centre (NCC).

The transition to NTPro technology will provide reduction in latency and rejection rates, and in this way increasing the speed and quality of OTC trades execution.

Moscow Exchange

The FX market OTC services’ list of instruments has been expanded. From September the market operator makes available EUR/USD and GBP/USD swap transactions through the Request for Stream (RFS) functionality, delivering quotations from leading global banks providing liquidity, with settlement through the CCP.

Market participants can now also clear OTC swap transactions with the CCP executed via OTC e-platforms. Cclearing of OTC trades with the CCP was previously available only for spot instruments. With the new functionality, there is an improved liquidity management and minimised credit and settlement risks achieved through leveraging reliable exchange and settlement infrastructure.

Market participants at MOEX’s Precious Metals have access to global gold market liquidity. The exchange has made available spot transactions at London gold market prices (Loco London, an XAU/USD instrument with T+2 settlement) and gold/US dollar swaps. The exchange noted that trades are executed in an automated mode through the central counterparty, which is subject to the single limit and netting of liabilities.

The new instruments will help diversify the sales markets and increase the efficiency of gold transactions by Russian precious metals market participants and their clients.

MOEX recently added 20 international stocks to trading, including stocks from Zoom, Western Digital and Virgin Galactic.

Last month, the exchange announced net profit growth of 2.1% in Q2 2021.


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