Following its monitoring of the MOEX USD/RUB FX Fixing, the Central Bank of Russia (CBR) has confirmed that the benchmark accurately reflects the market and meets all requirements for transparency of calculation methodology.
The inspection took place in Q3 2016, and will be repeated on a regular basis.
In July 2016, the CBR officially recognised MOEX’s USD/RUB FX Fixing and the Exchange’s operational performance as fixing administrator as being of satisfactory quality. The CBR also confirmed the fixing’s compliance with the Bank’s requirements.
In March 2016, MOEX’s indices and FX fixings were assessed as IOSCO-compliant.
Moscow Exchange calculates ruble rates for a number of currencies, as well as fixings for USD/RUB FX swaps with maturities from one week to one year.
CME Group has used MOEX’s USD/RUB benchmark for its ruble-denominated currency futures since July 2016. The gauge is also incorporated in ISDA’s FX Definitions as the primary rate to settle ruble-denominated currency futures on the OTC market.