Moscow Exchange adds Russia’s first Gold ETF

The ETF is trading in US Dollars and Russian Rubles – cross listed on the Irish Stock Exchange.

Moscow Exchange started offering shares of the first physical gold ETF in the country – FinEx Physically held Gold ETF. The fund’s holdings are stored in a vault in London and the instrument will be using London’s fixing price. Despite being denominated in US Dollars as a reference, trading is going to be available in Russian Rubles. The ETF is EU regulated, it is listed on the Irish Stock Exchange and cross listed on the Moscow Exchange.

Deputy CEO of the Moscow Exchange Alexand Afanasyev has stated that ETFs have a huge potential on the Moscow exchange – reducing transaction costs for local investors and aiding them to diversify their portfolios. He also mentioned other precious metals products are making their way towards listing.

The Moscow exchange is taking yet another step to provide quality liquidity in a variety of instruments to local market players. While most of the trading on the exchange are Ruble-based pairs — mainly USDRUB and EURRUB — Moscow Exchange has been active adding new products and features. It recently signed a cooperation agreement with Eurex for the trading of Ruble-based FX derivatives. Specifically, Eurex Exchange will launch Euro-Russian Ruble and U.S. Dollar-Russian Ruble FX futures on its trading system. It has also seen record trading volumes in the Yuan-Ruble CNYRUB pair, as interest in Yuan trading grows globally.

To see the Moscow Exchange press release on the Gold ETF introduction click here.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report. 

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