Central Bank of Russia has officially acknowledged quality of MOEx USD/RUB FX Fixing

The Central Bank of Russia (CBR) has officially recognised Moscow Exchange’s USD/RUB FX Fixing and Moscow Exchange’s operational performance as fixing administrator as being of satisfactory quality. The CBR also the fixing`s compliance with the Bank`s requirements, which are based on the International Organization of Securities Commissions (IOSCO) principles for financial benchmarks.

In March 2016, Moscow Exchange indices and FX fixings were recognized as IOSCO-compliant.

On a daily basis Moscow Exchange calculates a family of FX fixings of the Russian Ruble against the U.S. dollar, Euro and Yuan that are used to settle RUB denominated FX derivatives. It also provides fixings for USD/RUB FX swaps with maturities from one week to one year. The MOEX USD/RUB benchmark has traditionally been used to settle U.S. dollar FX futures traded at MOEX.

CME Group will begin using the MOEX benchmark for its rouble-denominated currency futures on July 18, 2016.

MOEX operates the world’s largest rouble FX trading marketplace. In June 2016 average daily trading volumes were $20.4 billion.

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