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Russia’s financial markets economy is developing rapidly, with its major trading venue, Moscow Exchange, having spent the past year busily engaged in ensuring that its technology is a match for that of mainstream Western markets, with dedicated connectivity between Europe, UK and North America having been provided by Canadian venue-neutral infrastructure provider TMX Atrium early last year, and subsequent government level collaborations with China on yuan/ruble swap procedures involving the venue.
Ruble liquidity has been in high demand, and therefore many additional, mainstream currencies have become the focus of Moscow Exchange in order that ruble pairs can be extended globally.
Today, Moscow Exchange has furthered this by announcing its intention to add two prominent pairs on 1 December 2014.
These pairs will be GBP/RUB and HKD/RUB, which will be available with today and tomorrow settlement and as overnight swaps. As per other currency pairs available on Moscow Exchange, the new pairs will trade from 10:00 am to 11:50 pm MSK.
Moscow Exchange Money Market Managing Director Igor Marich commented:”We are pushing ahead with the development of exchange technologies and expanding our product offerings by launching new currency pairs. The HKD/RUB pair we are offering in response to intense interest in Asian currencies from brokers and their clients. Client demand has also driven the introduction of GBP trading. With both pairs, we aim to offer our clients conversion transactions at the best prices available on the market.”
For the official announcement from Moscow Exchange, click here.